DeKalb County CEO Michael Thurmond’s proposed fiscal year 2019 mid-year budget includes a balanced budget, millage rate rollback and property tax relief.
County officials say the proposed millage rate rollback, combined with the Equalized Homestead Option Sales Tax Credit (EHOST), means an average tax savings of $930 for a resident owning a home valued at $250,000.
“DeKalb’s $1.2 billion fiscal year 2019 midyear budget prioritizes fiscal integrity and accountability,” said Thurmond. “The county is committed to delivering high-quality services while providing substantial property tax reductions for the second consecutive year,” said Thurmond.
Thurmond is proposing to roll back the Combined Countywide Operational rate, which was 10.364 mills in fiscal year 2018 to 9.952 mills in fiscal year 2019, reducing the rate by 0.412 mills.
The projected value of the millage rate rollback is $12 million, which will provide a property tax reduction of $41.20 on properties valued at $250,000. The benchmark millage rate for unincorporated DeKalb will remain at 20.81 mills.
In addition to the millage rates rollback, DeKalb homeowners will also benefit from $119 million in property tax relief generated by the EHOST. The tax reduction is the result of the passage of two measures in November 2017: EHOST and the Special Purpose Local Option Sales Tax (SPLOST).
DeKalb is the only county in Georgia with an EHOST, which is 100 percent dedicated to homeowner tax relief. In fiscal year 2019, the EHOST property tax relief measure will deliver an average tax cut of $889 to residents owning a home valued at $250,000. Combined, these two efforts will generate $131 million in property tax relief for DeKalb County property owners.
A final vote on the budget proposal by the Board of Commissioners is scheduled for Tuesday, July 9.