Alpharetta, Georgia – The budget for the fiscal year 2025 keeps the millage rate steady at 5.750 through the 2024 tax year and into 2025. The City has held this rate since 2009 while also offering significant tax relief to residents through various homestead exemptions, which are among the most generous in the state.
This millage rate consists of two parts: a maintenance and operations (M&O) levy and a bond levy. The M&O levy, set at 5.010 mills, funds essential city services and capital projects. The bond levy, at 0.740 mills, funds the city’s general obligation debt approved by voters. Because of anticipated property tax reassessments, the City is announcing a 10.84% property tax increase for the M&O levy, the larger of the two.
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Georgia law requires a rollback millage rate calculation that would generate the same revenue as the previous year if no property reassessments had occurred. The proposed M&O millage rate is higher than this rollback rate. Thus, the City of Alpharetta must advertise this increase and hold three public hearings to allow residents to voice their opinions before the City Council can finalize the millage rate.
The public hearings will be held on the following dates and times in the Council Chambers at Alpharetta City Hall located at 2 Park Plaza:
The City of Alpharetta is using its revenue growth to fund law enforcement initiatives, address salary and contractual inflation, and enhance capital infrastructure maintenance.
Residents are encouraged to review the adopted budget on the City of Alpharetta’s website at www.alpharetta.ga.us, and through the financial transparency portal at https://cleargov.com/georgia/fulton/city/alpharetta.
The FY 2024 millage rate, combined with significant Homestead Exemptions, helps keep Alpharetta affordable and competitively positioned compared to neighboring areas.
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The City’s multiple homestead exemptions are estimated to save our homeowners over $8.7 million annually and include:
- Floating Homestead exemption that caps the taxable value growth of homesteaded properties to the lesser of 3% or Consumer Price Index (CPI);
- Basic Homestead exemption of $45,000 off the assessed value of homesteaded properties which is among the highest in the State;
- Senior Basic Homestead exemption of $25,000 off the assessed value of homesteaded properties for residents aged 65 and older;
- Senior full-value exemption available to residents aged 70 and older who meet certain income requirements.
