INDIAN RIVER COUNTY — The Indian River County School Board approved its tax rate for the 2011-12 fiscal year that is expected to take less money from property owners than last year. The board also approved its $308.8 million budget.
Tuesday’s meeting was the second and final public hearing on both the millage rate and the budget, following a hearing held in July that elicited no public comment.
“We, the public, need to wake up and smell the roses,” said Harry Hurst, the one person from the public to speak to the issue Tuesday. “The money simply is not going to be there for the range of services that we’re needing and wanting.”
Hurst questioned the School Board’s decision to approve a tax rate that will take in less money than last year.
“I’m scratching my head,” he said, adding that the district won’t have the resources it needs to get done what needs be done.
The School Board did not address Hurst’s comments and instead unanimously approved a millage rate of 8.244 mills.
The budget for the 2011-12 fiscal year is $1.8 million more than what was presented to the School Board during July’s hearing.
Assistant Superintendent of Finance Carter Morrison explained to the board that the difference is due to the closing of the financial books from the 2010-11 fiscal year. Funds left over in various accounts were moved forward.
What the millage rate means to residential property owners:
A property owner with a $200,000 home and a $25,000 homestead exemption would have paid $1,443.75 under last year’s tax rate of 8.250 mills.
Assuming no decrease in property value, that same homeowner would pay $1,442.70 this year under the 8.244 mills.
Property values have declined from last year by about 6 percent, according to Morrison.
Given the drop in property values, the homeowner could expect to pay nearly $106 less this year to the School District.
