Board voted during its monthly meeting to lower rate to 4-mills
Gateway85 Community Improvement District’s (CID) board of directors voted to lower the 2023 millage rate from five-mills to four-mills at the recommendation of Executive Director Emory Morsberger during its May board meeting. This is a historic decrease for the CID, which is a self-taxing district that uses commercial property taxes to accelerate infrastructure improvements and promote economic development, since its formation in 2006.
Due to the efforts of Gateway85 CID in promoting prosperity and commerce in the area, local property values have increased to allow sustained value from a lower tax rate. In 2021, the CID’s property values equaled $1.7 billion.
“I see it as an incredible indication that the CID’s efforts to improve our district and increase property values have been successful. The board felt, and I agreed, that we could maintain Gateway85 CID’s investment in projects, studies and more while achieving the same level of success for the CID’s programs and initiatives,” said Morsberger.
Through partnerships with government and municipal organizations, Gateway85 CID has executed $110 million in improvements since 2006.
The CID millage rate is placed upon the regular tax bills sent by the Tax Commissioner, who transmits the collected taxes to the CID Board to use on initiatives to improve the district for its CID members and businesses.
“I am thrilled to have support of the board members for the proposed millage rate, as we are always striving to support business owners and help them improve their bottom lines.”
Gateway85 CID is home to 3,000 businesses, which represents 16% of all jobs in Gwinnett County. These vary in size from international conglomerates, large-scale movie studios to small, locally-owned businesses.
About Gateway85 CID
Gateway85 Community Improvement District is one of the largest CIDs in the state of Georgia. The public-private partnership is funded by commercial property owners in the 14-square mile area, spanning the I-85 corridor in southwest Gwinnett County. Formed in 2006, the formerly named Gwinnett Village CID represents more than 550 owners, accounting for $1.7 billion in commercial property value. Gateway85 succeeds by partnering with Georgia DOT, the Atlanta Regional Commission, Gwinnett County, Norcross and Peachtree Corners. These partnerships have led to over $110 million in improvements since 2006 and are on track to produce another $179 million in progress by 2030.