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Rising property values will cause an overall tax increase despite the unchanged rate.
Lawrenceville Officials will consider maintaining the City’s current millage rate of 1.826 heading in to the Fiscal Year (FY) 2021. Leaving the property tax-rate the same as the previous year will mean an overall tax increase for property owners whose property values also increased according to the Gwinnett County Tax Assessor’s Office. No change in the millage rate of 1.826 mills will result in a 65-cent/month increase for a home valued at $200,000.
“The City of Lawrenceville has not raised the millage rate in 29 years,” said Mayor David Still. “A millage rate of 5.00 mills was set in 1991, and the City has steadily lowered or maintained the millage rate each subsequent year since. In 2010, the millage rate was 2.160. That is 15.5% higher than the 2019 rate of 1.826, the same rate proposed for 2020.”
The City currently works with one of the largest municipal budgets in the Metro Atlanta area. With revenue streams that include not only property taxes and business fees, but also a robust utilities’ infrastructure of gas, electric, water and storm water services. Lawrenceville strives to be strategic, intentional and practical with every investment.
The City of Lawrenceville’s credit rating was recently upgraded by Standard & Poor Global based on very strong management, strong financial policies and practices, strong budgetary performance, with operating surpluses, very strong budgetary flexibility, liquidity, a weak debt and contingent liability profile and a very strong institutional framework.
In 2019, the City of Lawrenceville was awarded the “Distinguished Budget Presentation Award” by the Government Finance Officers Association of the United States and Canada (GFOA). This award represents a commitment of the governing body and staff to meeting the highest principles of governmental budgeting and is the highest form of recognition in governmental budgeting. The City of Lawrenceville is one of only 1,123 municipalities to receive this award in the U.S. and Canada. In addition, The City of Lawrenceville was awarded the “Certificate of Achievement for Excellence in Financial
Reporting” (CAFR) by the Government Finance Officers Association of the United States and Canada (GFOA). This award is the highest form of recognition in the area of governmental accounting and financial reporting. 2019 marked the fourth consecutive year the City was awarded this honor.
“I am extremely proud of our Finance Department and all of our Department Heads for the excellent management of our City resources,” said City Manager Chuck Warbington. “Lawrenceville is in a strong financial position not only for continued growth, but for initiatives to create a more vibrant community for our citizens.”
Lawrenceville residents are invited to the public hearings on the millage rate discussion to be held on July 8, 2020 at Lawrenceville City Hall at 4:45 P.M as well as July 27, 2020 at Lawrenceville City Hall at 12 noon and 7:00 P.M.