Business & Tech
Cumberland CID Votes Itself A Tax Increase
Commercial property owners will pay an additional five mills of property tax, while apartment complex owners will see a three mill increase.
Businesses and residents of the Cumberland Community Improvement District (CID) will soon see higher taxes, which will help pay for Braves-related transportation improvements in the area.
The CID board voted to increase commercial property taxes by five mills in the 5.5 square mile area to provide $10 million in funding to ease the burden on commuters and baseball fans in light of the Atlanta Braves' announced relocation to the Cumberland area during their meeting on Tuesday.
According to the Marietta Daily Journal, Board members Mason Zimmerman, Barry Teague, Connie Engel, John Shern, and Chairman Tad Leithead all voted for the tax increase.
The board will also create a new tax district roughly within the borders of the CID, which will allow Cobb County to levy an additional three-mill tax in the area. Additionally, the three mill tax increase will be felt by the owners of apartment complexes in the district; the CID cannot tax non-commercial properties.
The projects that the tax increase will pay for have not yet been determined, says the MDJ. However, Leithead said that once Cobb County informs CID leadership about the specific transportation projects in the area, CID's newly-raised tax money will go to fund those projects.
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