Lowest Property Tax Rate in 35 Years
Roswell City Council approved a property tax rate for fiscal year (FY) 2023 of 4.463 mills during their meeting on Monday, September 12, 2022. The new property tax rate is 5.4 percent lower than last year's rate and the lowest the rate has been in 35 years. The 4.463 rate represents the "rollback rate," which was specifically computed to offset inflationary increases in property values. Residents should see no increase in their City property tax bill compared to last year.
"During a year that has seen a significant rise in property values, the City of Roswell is pleased to approve a rollback tax rate to counterbalance any potential increase for the City portion of residents' tax bills," said Mayor Kurt Wilson. "I am extremely proud of our City Council and our staff for executing a budget strategy that enabled us to help Roswell's taxpayers by reducing our property tax rate to its lowest level in more than three decades."
The 4.463 rate includes a Maintenance & Operations (M & O) component of 4.363 (reduced 5.5 percent from previous year), which goes toward supporting the City's General Fund services and programs such as Public Safety, Recreation and Parks, Transportation, and services offered by other City departments. The Debt Service portion, which funds the repayment of voter-approved, bonded debt, remains the same as it was last year at 0.100 mills.
Out of the total property tax that a Roswell resident pays each year, City taxes are equal to approximately 15 percent of their total bill. Taxes paid to Fulton County Schools and Fulton County account for approximately 55 percent and 30 percent, respectively. Each government entity determines its own property tax rate (or millage rate) for its portion.
With the City of Roswell's 4.463 property tax rate, a Roswell homeowner who has a property with a fair market value of $450,000 (assessed value of $180,000 or 40%), will pay approximately $803.34 in property taxes to the City of Roswell.
Historically, the City of Roswell has had one of the lowest property tax rates among cities in northern Fulton County. The 4.463 rate represents the second lowest property tax rate in North Fulton, with only Johns Creek having a lower rate.
For more information about property taxes, visit www.roswellgov.com/PropertyTaxInfo.
