Wednesday, June 10, 2009
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Gwinnett Daily Post
LAWRENCEVILLE - During a called meeting Tuesday, the Lawrenceville City Council set the 2009 tax millage rate for the city at 2.16 mills, the same as for 2008.
Mayor Rex Millsaps estimated that using this rate would result in a 3.28 percent decrease, or $79,000, in the amount of property taxes to be collected based on the city's tax digest.
"This is based on the digest as its stands now. It's likely to decline more," Millsaps said.
The drop in the city's tax digest was attributed to reassessments that lowered property values due to the downturn in the housing market.
Lawrenceville has a fiscal year budget that runs from Sept. 1 through Aug. 31. Work has just started on the new budget, the mayor said.
The city will address the loss in property tax revenue though budget cuts, he said. It also has reserve funds it can use if necessary.