What is the maximum debt level for cities and counties in Georgia based on taxable property?

The maximum debt level for cities and counties in Georgia, based on taxable property, is set at 10%. This limitation is in place to ensure that local governments do not overextend their financial obligations, which could jeopardize their financial stability and the ability to provide services to residents.

By maintaining a maximum debt threshold of 10%, Georgia's law aims to promote responsible fiscal management among its municipalities and counties. This provides a safeguard against excessive borrowing, which could lead to significant financial challenges in the future if local governments take on more debt than they can manage.

Other percentages listed, such as 15%, 20%, and 30%, do not align with the statutory limit established in Georgia law, which is specifically designed to establish a manageable and sustainable level of debt for local entities.