Keeping the tax rate at 17.75 mills, the Commerce Board of Education is expected to approve a 5.9 percent increase in property taxes next month.
According to finance director Ann Stokey, the tax digest increased by about 5.9 percent from last year. Stokey said that after formulation, a millage rate rollback of 1.3 percent would be required to avoid a tax increase, but that rollback was decided against.
“Really no great surprise to what we had anticipated,” said school superintendent Dr. Mac McCoy during Monday night’s BOE meeting.
The tax rate will remain at 17.75 mills, the same rate levied since 2005.
“I’d rather be conservative like we were last year and show extra than be in the hole,” Stokey said.
The board has scheduled three public hearings on the increase. The first two are July 29 at 10 a.m. and at 6 p.m. at the Commerce High School media center. The final meeting will be Aug. 5 at 6 p.m., also in the CHS media center, with a called meeting following immediately to adopt the millage rate.
For more information on the Commerce Board of Education meeting, see the July 16 issue of The Commerce News.