Cumberland CID Report of Proposed Millage Rate

Cumberland CID Report of Proposed Millage Rate
July 6, 2018 Cumberland CID
Cumberland CID

In compliance with O.C.G.A. §48-5-32, the Cumberland Community Improvement District reports that at its meeting on July 26, 2018, beginning at 7:30 A.M. the Cobb County Chamber of Commerce, 240 Interstate North Parkway, Atlanta, Cobb County, Georgia, the Cumberland CID Board of Directors will vote upon a proposal to levy an ad valorem taxation rate of 5 mills, and will set its millage rate for the lawful purposes of the District for the current calendar year.  Set forth below are the assessed taxable values of the properties subject to taxes for the current year and immediately preceding five calendar years, the total dollar amount of ad valorem taxes proposed to be levied for the current year and levied in the immediately preceding five calendar years, as well as the percentage and total dollar increases or decreases with respect to the immediately preceding calendar year.  All property levied upon is real property.  The millage rate for each year has been 5 mills.

Year $ Assessed Value $ Taxes Levied % Change $ Change
2013 1,093,675,055 5,468,375 -2% -100,154
2014 1,136,913,418 5,684,567 4% 216,192
2015 1,154,136,389 5,770,681 1.5% 86,114
2016 1,222,335,320 6,111,677 6% 340,996
2017 1,313,463,256 6,567,316 7.5% 455,639
2018 proposed 1,396,986,326 6,984,932 6% 417,616

Lynn Rainey, P.C.
State Bar No.  592350
358 Roswell Street, Suite 1130
Marietta, Georgia  30060-8200
(770) 421-6040
General Counsel for CID