City of Canton, GA 2022 Millage Rate Overview

City of Canton Millage Rate Presentation – 2022 Digest

City of Canton Digest Over Time Gross Digest

Net Digest

$2,100,000,000

$2,008M

$1,900,000,000 $1,700,000,000

$1,622M $1,648M

$1,500,000,000

$1,428M $1,327M

$1,300,000,000 $1,100,000,000

$1,310M

$1,195M $1,112M

$1,164M $1,091M

$984M

$900,000,000

$944M

$991M

$836M

$700,000,000 $500,000,000

2016

2017

2018

2019 digest year

2020

2021

2022

City of Canton Millage Rate Over Time 8

7.500 7.385 7.115

7

6.800

6.778

6.800

6.800

6.800

6.800

6.256

6.196 5.966

6

5.950 5.850

5.400

5.400

5.400

5.400

5.400

5.400

2017

2018

2019

2020

2021

2022

2016

2015

2014

2013

2012

2011

2010

2009

2008

2007

2006

2005

2004

2003

5

2002

5.600

Millage Rate Advertisement

How are Property Taxes Calculated?

Average Home with Homestead Exemption: Fair Market Value (FMV) $375,000 Assessed Value (AV)

$150,000 or 40% of FMV

Millage Rate Annual Property Tax Levy $

0.0054 or 5.40 Mills 810 Tax Amount

Home with Senior or Disability Exemption: Fair Market Value (FMV)

$375,000

Assessed Value (AV)

$150,000 or 40% of FMV

Senior/Disability Exemption

(112,000) Maximum

Net AV

38,000

Millage Rate

0.0054 or 5.40 Mills

Annual Property Tax Levy

$ 205.20 Tax Amount

NOTES: • There are 10,204 residential parcels within the City • Of these, 2,990 parcels qualify for the City of Canton Senior Exemption • 2022 Senior Exemptions will save seniors more than $1.7M in taxes • More than 78% of senior-owned properties receive the full $112,000 City of Canton Senior Exemption • The City must pay the County a Fire Service Fee based on the Tax Digest Value of all property within Canton, regardless of any exemptions. The service fee is calculated using the County’s Fire District Millage Rate (currently proposed at 2.984 mills).

July 7th @ 11 AM

July 7th @ 6 PM

July 21st @ 6 PM

July 27th

First Public Hearing

Second Public Hearing

Third and Final Public Hearing and Adoption of the 2022 Millage Rate

City Finance Department will submit Millage Rate Certification (PT-38) to the County to be forwarded to the State Department of Revenue

City of Canton Millage Rate Presentation – 2022 Digest