The Sarasota County School Board will hold a public hearing tonight on the budget and millage rate.
The board will vote on the approval of the 2014-2015 school year budget and millage rates.
The millage rate is decreasing from 7.97 to 7.777. This is the first year the millage rate has fallen since 2011.
One mill equals $1 for every $1,000 of assessed property valuation. That means for every $100,000 of assessed value, homeowners will save $19.30 on their property-tax bill with the new rate.
The school district will be receiving more revenue from property taxes than last year, though, because home values in the area are on the rise and the district’s taxable values (tax roll) increased 7.8% from last year.
The district’s entire budget this year is $704 million, which Deputy Chief Financial Officer Al Weidner said was in “very good condition” during the board’s last budget meeting. Only $108,477 worth of cuts had to be made, which was less than previous years, he said.
District student enrollment is expected to increase with 1,077 students this year: 891 in charters and 186 in district schools.
The school board will meet at 5:15 p.m. tonight at the Landings Administrative Complex, 1980 Landings Blvd, Sarasota.
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