Flowery Branch residents could see a property tax increase next year, even as officials propose to keep the South Hall city’s tax rate the same.
“The increase is strictly due to the value of … property rising,” City Manager Bill Andrew said.
Because of higher property values, to pull in the same amount of revenue, the city would need to reduce the tax rate of 3.264 mills to 3.012 mills.
The city is proposing to keep the rate at 3.264 mills, with 1 mill equal to $1 for each $1,000 in assessed property value.
The proposed tax increase for a home with a fair market value of $175,000 is $17.64, city officials said.
The rise in the city’s property tax digest — or list of taxable properties — is mainly due to the sale of TreePark Apartment Homes at a higher value, Andrew said.
TreePark is off Thurmon Tanner Parkway between Phil Niekro Boulevard and Cantrell Road.
Of the overall increase in the tax digest, about “46 percent of it is attributable to the increase in value of TreePark Apartments,” Andrew said.
“If you back out 46 percent of this increase, as if the TreePark property did not exist,” then on average, a home with a fair market value of $175,000 would only see an increase of $9.53, he added.
As required by state law, Flowery Branch has scheduled public hearings on the matter for 9 a.m. and 6 p.m. June 1 and 6 p.m. June 8 at Flowery Branch City Hall, 5517 Main St.
The proposed fiscal 2017-18 budget will be available for public review on June 1, with a public hearing on the document set for June 8.
The budget, which will become effective July 1, will be considered for adoption by the City Council on June 15.