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School Board millage sees slight drop

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By Sean Arnold

The School Board of Levy County unanimously adopted its final 2016-2017 millage and budget, setting the combined millage rate at 6.876, and the total budget at $77,264,131.00.

The budget was revised up from the original advertised estimate by $1,503,385, largely due to $1,259,923 in additional anticipated costs for capital projects.

This year’s millage represents the rollback rate, which is the calculated rate that’s required to collect around the same amount of property tax revenue as in the prior year. It’s around a 3.3 percent drop from last year’s 7.12. The millage rate is the amount owed per $1,000 of property value.

The majority of the millage levy – 4.628 – constitutes the “required local effort” that a district must meet in order to receive state funding. The “Local Capital Improvement” levy, which goes towards construction, maintenance and equipment for schools, is capped by the state at 1.5 mills. The remaining 0.7480 is the basic discretionary operating rate.


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