AJC explains parks bond tax burden

The following information appeared as a sidebar in the Atlanta Journal Constitution on Thursday, October 12, 2006 in the article "Parks Proposal: Ballot unclear on tax burden" by AJC staff writer Craig Schneider

• In 2007, 2008: The county would borrow $40 million for the parks. That would cost a homeowner of a $200,000 home on average $11.50 a year for the 10 years of the bond, though the cost in the early years would be just a few dollars. Cobb officials said the growth of the county tax base, among other things, would cover that cost so existing homeowners wouldn't see a bump in their tax bill because of the park issue.

• In 2010: Cobb will retire the debt on a 1993 bond to build a jail. The total on that was $39 million. The remaining debt is $19.5 million. In 2011, the savings to taxpayers of paying off that amount would be $13.60 a year on a home appraised at $200,000. That savings would go to pay off the new parks issue.

• In 2017: The county will retire a 1996 bond for $30 million for parks. That has $19.4 million left on it. That would save that homeowner $4 more, which also would be used to pay off the parks issue.