Tuesday, June 24, 2014
© Copyright 2014
Clayton News Daily
JONESBORO — The good news is homeowners will not have to pay more in property taxes for schools.
The Clayton County Board of Education approved a tentative millage rate less than the allowable maximum 20 mills during its work session Monday.
Chief Financial Officer Ken Thompson said the district’s business services staff calculated a revenue neutral “rollback” rate of 19.861 mills based on tax digest data from the Clayton County Tax Commissioner’s Office.
The rate is lower than the 20-mill rate from fiscal year 2014, because the rollback rate takes into consideration adjustments to the digest made for reappraisals.
Thompson said adopting the rollback will result in no tax increase to taxpayers.
He said the rollback means that homeowners whose homes appreciated in value would pay the same in property taxes, while those whose properties did not would receive tax bills less than last year.
He added that by adopting the 19.861 millage rate as opposed to keeping the rate at 20 mills will result in a decrease in projected revenue of about $792,000.
“This amount can be absorbed by the district’s ending FY15 fund balance and does not impact our ability to give and sustain the 3 percent pay raise and 1 percent bonus as included in the FY15 proposed budget,” said Thompson. “To tentatively adopt the revenue neutral rollback millage rate of 19.861 mills for maintenance and operations to support the FY15 budget as adopted.”