BDS adopts tentative budget and proposed millage for upcoming school year
BAY COUNTY, Fla. (WJHG/WECP) - With inflation, Bay District School board members are trying to raise money, without raising taxes. On Tuesday, they’re one step closer to doing so.
At a budget workshop and public hearing, board members adopted a tentative budget and proposed millage for the upcoming school year. They proposed a lower rate of 5.5 mill. This is lower than last school year’s 5.84 mill and has consistently gone down since 2009. For example, the new rate saves property owners $34 per $100,000 of assessed property value.
“The state actually sets that required local effort, which is less. They’re able to lower that rate because of the increase in property values. You obviously multiply the rate times the value of all the property to get your revenue. The property value has increased enough that you can lower the rate and still generate more money,” District CFO Jim Loyed said.
Also in this year’s $610 million budget, there are salary increases for employees. This budget is more than $70 million more than last year.
The final millage and budget will be voted on September 8th.
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