The Board is meeting tonight at 7 pm to consider several items. The key item is the final approval of the 20.64 millage rate for property taxes for the General Fund. In addition, the Personnel Gains and Losses Report will be reviewed, specific furlough days will be set and there will be an update on the new Superintendent search.
Regarding the millage rate and why it has come to before the Board on three occasions. The Property Tax Digest for 2012 has an increase in the property values due to reassessments. When this occurs, under the GA revenue statutes, the millage rate is “rolled back” to a level that would result in the same revenue to the school system as in the prior year.
This year, the reassessments resulted in an additional $6 million (estimate) in property tax revenues, which is a reversal of the downward trend over the last several years. However, to capture this $6 million, the millage rate has to be raised from the “rolled back” level to the same level that it was in the prior year. In essence, maintaining the millage rate consistent with the prior year is a tax rate increase and the increase required a re-publication of the change. The Board is likely to finalize their approval on this tonight. For those of you interested in more detail, please follow the link to the specific GA statute on this.
The Personnel Gains and Losses Report is fairly straight forward. As in the last Report, HR continues to add staff to fill out the new positions included in the Project Thrive initiative. In addition, 11 new Teacher Resident positions are being created for the RT3- Teach for America program which is included in the Special Revue Fund.