Pierce County Board of Education approved setting its millage rate at 14 mills during a called meeting last Tuesday night.
The rate is the same as last year.
Two people were in attendance at the public hearing prior to the meeting, but neither spoke on the budget or millage. No other citizens attended the two previous public hearings. By state law three public hearings must be held for a tax increase. required to be held by state law.
Helms explained, the board projected a millage of 13.994 mills to fund its operations. However, that number would be just a smidge under the 14 mills the state requires for schools systems to be eligible for equalization money.
Equalization money is state funds given to local school systems based on property wealth per student. Pierce County is considered a low wealth district because of its tax base. Pierce County Schools are projected to earn $5 million in equalization money for the 2024-2025 school year. Helms explained if the school system gave a full rollback, it would no longer qualify for the $5 million in equalization money.
The loss would require a roughly 6 mill increase in property tax to make up the difference.
Helms said taxpayers with home values under $400,000 will notice less than a dollar difference between the proposed millage and the rollback rate.
The board approved a $42.8 million budget for fiscal year 2025 in June.
