Stephens Co. BOE To Officially Set Millage Today
The Stephens County Board of Education is expected to take a vote to officially set its millage rate at a called meeting this morning.
Stephens County school board members are scheduled to meet at 8:30 a.m. at the School System Administrative Offices on Mize Road to vote on the millage rate.
Before the 8:30 a.m. called meeting, the school board will hold the third and final required public hearing on the proposed millage rate hike at 8 a.m.
That public hearing will also be at the School System Administrative Offices.
The Board of Education is proposing to set its millage rate at the state maximum of 20 mills.
That is a 1.6 mill increase from the current millage rate of 18.4 and would mean an increase in property taxes of about $64 for every $100,000 in property value.
Stephens County School Superintendent Bryan Dorsey said raising the millage rate to 20 mills would result in about $870,000 in additional revenue
The millage rate increase is part of a plan by the school system to re-coup a total of about $2.7 million.
According to Dorsey, about $2.7 million is what is needed to both balance the Fiscal Year 2015 budget and pay back an estimated deficit in the school system’s fund balance of about $1.3 million.
Dorsey said the plan to make up the budget shortfall also includes nine calendar reduction days next year for school system staff.