Residents are invited to participate in upcoming public meetings on the topic.
Lawrenceville officials have announced their decision to tentatively adopt a millage rate that will remain at the current level, ensuring financial stability and continued growth for the City. This decision comes after carefully considering and analyzing the city's budgetary needs.
The tentative adoption of the millage rate will result in an 8.58 percent increase in property taxes. This increase will set the millage rate at 2.228 mills, which is 0.45 mills (above the roll-back rate). Without this tentative tax increase, the millage rate would have remained at a maximum of 1.778 mills. To put it into perspective, a home with a fair market value of $350,000 will experience a proposed tax increase of approximately $22.94. In comparison, a non-homestead property with a fair market value of $600,000 will see a proposed tax increase of approximately $45.88.
Mayor David Still emphasized the city's unwavering commitment to transparency and preparedness, expressing his satisfaction by stating, "I am pleased to announce that our meticulous financial stewardship allows us to sustain the existing millage rate. It is truly impressive that the City of Lawrenceville can uphold such a minimal rate for our valued property owners."
The City of Lawrenceville manages one of the largest municipal budgets in the Metro Atlanta area. Its revenue streams encompass property taxes, business fees, and a robust utility infrastructure that includes electric, gas, and stormwater services. With strategic, intentional, and practical investments, Lawrenceville aims to foster a vibrant community for its residents.
Moody's recently upgraded the City of Lawrenceville's credit rating due to its very strong management, solid financial policies and practices, stable budgetary performance, operating surpluses, sound budgetary flexibility, liquidity, limited debt and contingent liability profile, and a secure institutional framework. Furthermore, the Government Finance Officers Association of the United States and Canada (GFOA) awarded the City with the "Certificate of Achievement for Excellence in Financial Reporting" (ACFR) for the sixth consecutive year in 2022. This recognition signifies Lawrenceville's commitment to exceptional governmental accounting and financial reporting.
City Manager Chuck Warbington expressed his confidence in the dedication and competence of our Finance Department and all Department Heads, stating, "I commend our outstanding team for their exceptional management of our city's resources. Lawrenceville stands tall in a position of financial strength, poised for continued growth and equipped with innovative initiatives to foster a dynamic community that thrives for the betterment of our citizens."
Lawrenceville residents are encouraged to participate in a public hearing on the millage rate, scheduled for July 19, 2023, at Lawrenceville City Hall at 12 noon and 5:00 pm, and on July 31, 2023, at Lawrenceville City Hall at 7:00 pm. This hearing allows residents to voice their opinions and engage in the decision-making process.