During a special session Thursday, board members set the new rate at 38.7 cents per $100 assessed value on real property following a public hearing. This levy is down from the rate of 39.5 cents collected last year.
A rate of 39.5 cents was set on personal property and that rate remains unchanged from the previous year.
Proposed tax rates are based on revenue targets and calculations of property values. Superintendent Mike Howard had earlier reported that revenue projections for this year allowed the board to lower the rate for local landowners and still meet the district’s budgeted targets.
These new rates are expected to produce nearly $4.5 million in revenue, of which nearly $1.3 million will come from new and personal property.
The board also set a property tax rate on motor vehicles and watercraft at 33.6 cents, which remains the same as in prior years.
The board then went into an hour-long executive session, from which no action was taken, and adjourned upon their return.