CID BOARD TO VOTE JULY 25 TO KEEP ITS AD VALOREM TAXATION RATE OF 3 MILLS; CANCELS JULY 5 MEETING
REPORT OF NORTH FULTON COMMUNITY IMPROVEMENT DISTRICT OF PROPOSED MILLAGE RATE
The North Fulton CID Board of Directors will vote July 25 to keep its ad valorem taxation rate of 3 mills, and will set its millage rate for the lawful purposes of the District for the current calendar year. The vote will be held at the Greater North Fulton Chamber of Commerce, 11605 Haynes Bridge Road, Suite 100, in Alpharetta, at 8:30 a.m. There will be no July board meeting.
In compliance with O.C.G.A. §48-5, the North Fulton Community Improvement District reports that at its meeting on July 25, 2011, beginning at 8:30 A.M. at the Greater North Fulton Chamber of Commerce, 11605 Haynes Bridge Road, Suite 100, Alpharetta, Fulton County, Georgia, the North Fulton CID Board of Directors will vote upon a proposal to levy an ad valorem taxation rate of 3 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 with respect to the immediately preceding calendar year. All property levied upon is real property. The millage rate each year has been 3 mills.
Assessed Value Taxes Levied % Increase $ Increase
2006 $510,038,470 $1,530,114 10% $ 133,991
2007 $704,216,217 $2,112,649 38% $ 582,535
2008 $861,117,662 $2,583,353 22% $ 470,704
2009 $961,365,034 $2,884,095 12% $ 300,742
2010 $897,297,746 $2,691,893 - 7% - $ 192,202
2011proposed $887,007,421 $2,661,022 - 1% - $ 30,871
J. Lynn Rainey, PC
State Bar No. 592350
358 Roswell Street, Suite 1130
Marietta, GA 30060
Attorney for CID