Bond millage reduced, tax digest increase
The bond millage rate in the Newton County School System (NCSS) will be reduced to exactly zero for the upcoming fiscal year.
As part of a previously approved SPLOST by the citizens, the bond millage, which is currently .45 mills and only pays for school debt, will have to be done away with for the 2015-2016 fiscal year, says NCSS Executive Financial Manager Erica Robinson.
With the reduction in the bond, homeowners will probably pay about $154 less in taxes than what they paid in 2009, Robinson told the Newton County School Board (BOE) at a special-called meeting Thursday night.
The maintenance and operations ( M&O) millage rate will remain at 20 mills, which is the amount it’s been since being raised from 18.21 mills before the 2010-2011 fiscal year.
While the M&O millage rate will stay the same, the school district will more than likely have gross taxes of about $41.28 million, nearly $2 million more than last school year the highest amount since the 2011-2012 fiscal year. The tax digest will about $2.06 million, the first time it’s been over $2 million since fiscal year 2011-2012.
Home property values in Newton County are currently on the rise which is contributing to the increase in taxes.
“Even though its’ better than 2015, we still have a little bit of a ways to go to get back to 2009,” Robinson said.
The NCSS is still trying to recover to the levels these figures were at in fiscal year 2008-2009, before the great recession hit the realest market. During that year, the school district had a tax digest of $2.95 million raised about $53.81 million in taxes.