Cobb County’s property tax digest is going to decline for the fourth consecutive year, Chief Tax Appraiser Phi Hogsed Sr. says, but don’t expect a second consecutive increase in county property taxes.
After Hogsed estimated the digest will decline 3.9 percent this year, Board of Commissioners Chairman Tim Lee told The Marietta Daily Journal: “There absolutely will not be a tax increase this summer.”
He also said there will be no layoffs or furloughs.
Finance Director Jim Pehrson said Cobb can absorb the likely $8.3 million decline in revenue because the county budgeted for a 2.5 percent drop, built in a surplus and an emergency reserve, and can find ways to cover the remaining $2.2 million or so, The Atlanta Journal-Constitution reported.
The picture might not be so rosy for the Cobb County School District.
Chief Financial Officer Mike Addison assumed a 2 percent decline in the tax digest when he prepared a tentative budget that includes five furlough days, larger class sizes, delayed raises and reduced funding for paraprofessionals in libraries to close a $62.5 million deficit.
That deficit included a $1.1 million cut in local property taxes for the school system. If the actual decline in the digest is 3.9 percent, that would mean around $1 million in additional lost revenue.
As for your tax bill, Hogsed said assessment notices should go out to homeowners around May 18, the MDJ reported.