The Elbert County Board of Education has set its Fiscal Year 2014 millage rate.
At a called meeting last night the school board adopted a millage rate of 16.722 for FY 2014, which is an increase of .665 mils over last year’s rate.
School District Chief Financial Officer Ben Childs explained the reasoning behind a higher millage rate.
“The reason for the increase is basically a drop of twenty-one million dollars in the real property assessment of the county”, said Childs. “That is the biggest drop we have seen in five to six years.”
He says even though the millage rate is technically higher than last year, Elbert County residents will pay the same amount of property tax that they have in prior years.
“It is not a millage rate increase, we are actually keeping our millage rate in line to generate the same amount of revenue in FY 14 as we generated in FY 13”, explained Childs.
A motion was made during the meeting to adopt the FY 2014 millage rate of 16.722 mils, which passed with a unanimous 4-0 vote, as Board Member Teresa Barnett was not present at the meeting.