Tuesday, March 1, 2011
© Copyright 2014
Gwinnett Daily Post
LAWRENCEVILLE — The Gwinnett County Board of Commissioners intends to realign 0.23 mills of the property tax rate from debt service to general operations.
While the millage rate won’t be set until this summer, the board voted Tuesday to approve a resolution designating its intent to realign the millage rate.
The change will reallocate about $4.8 million to the general fund but will not increase the existing millage rate, according to Aaron Bovos, deputy county administrator and chief financial officer.
The tax was initially levied as part of a 1986 bond package for the library and road construction. The bond was most recently refinanced in 2002, and as of January, the debt has been paid off.
The board’s voted Tuesday to close that fund and transfer remaining assets to an outstanding general obligation bond that was used to finance construction of the tower at the jail.a
Commissioner Mike Beaudreau said the decision to realign the tax levy is “the sensible thing to do,” since capital construction is now covered by a special purpose local option sales tax.