City Commission To Hold Second Tax Rate Hearing Thursday

The second hearing for what amounts to a minor tax increase for Rome residents, despite a decrease in the millage rate, will take place Thursday.

The Rome City Commission is scheduled to hold its second hearing on a proposed reduction to the 2024 millage rate by 0.2 mills Thursday at 10 a.m. in the commission chambers at city hall, 601 Broad St. The final hearing will take place on July 22.

Commissioners will be considering the combined millage rates for the city government and Rome City Schools. The combined rate of 26.25 mills will decrease the millage rate, but because of higher property tax values will amount to approximately a 7% tax increase.

The city is proposing to decrease the city maintenance and operations rate from 7.80 to 7.67 mills, the capital rate from 1.80 to 1.75 mills and the city school tax from 16.85 to 16.75 mills.

A tax rate of one mill represents one dollar per $1,000 of assessed value, which is 40% of a property’s fair market value.

In this case, for a property valued at $250,000, without a homestead exemption, the estimated property tax will be $2,625. Compared to the 2023 valuations and millage rate, the same $250,000 property would have a property tax of $2,645.