School millage not expected to change, but Nov. tax bills will see a slight increase
The millage rate to be set by the Fayette County Board of Education later this month will remain the same this year, but property owners will still see a tax increase going to the school system.
An Aug. 4 public hearing on the 2014 millage rate had the school board proposing to keep the 2014 maintenance and operation tax rate at 20 mills, the maximum rate allowed by state law.
Though the millage rate remains the same, the increase in property values means that the owner of a $200,000 home will see a $34.14 increase on the November tax bill. That increase is the equivalent of an increase of .438 mills.
Assistant Superintendent Tom Gray said property and motor vehicle tax revenues are expected to total approximately $75.4 million. Gray said vehicle ad valorem taxes are expected to show a decrease.
The millage rate will be adopted Aug. 18 at 6:30 p.m.
The school board will also decide at that time on a bond millage rate, currently positioned at 1.45 mills. The school board is expected to maintain that rate.
The combined rate for the maintenance and operation millage and bond millage totals 21.45 mills.