After more than a month of discussion and meetings, the Forsyth County Board of Education has decided to avoid a millage rate rollback, approving to maintain the district millage and the proposed property tax increase that will mean for some residents.
At the regularly scheduled July meeting of the Forsyth County Board of Education, a motion to approve the maintenance and operation at the current rate of 17.30 mills was unanimously approved by the board with no further discussion. Board members briefly considered a roll-back of the millage rate at a June meeting, but after consideration abandoned the idea.
Previously Chris Griner, Forsyth County School chief financial officer, said that due to recent county tax reassessments, by maintaining the millage at its current rate instead of rolling rates back in concert with the reassessments, the school system will be approving a property tax increase.
"By not rolling that back, it creates an increase of 6.12 percent. But if you were to roll it back, there would be no increase due to the reassessments,” Griner said. "The board is leaving the millage rate where it is. By law they have the opportunity to roll it back to 16.303, but with all the growth that the county is experiencing ... they decided not to do that roll-back."
The millage rate is the formula that calculates property taxes. One mill equals $1 for every $1,000 in assessed property value, which is 40 percent of the actual market value.
The school board held three public participation meetings on the millage and the proposed tax increase before the vote in July. According to Jennifer Caracciolo, Director of Communications for Forsyth County Schools, no members of the public attended any of the meetings.
A public notice on the tax increase states that under the current millage rate, property taxes will increase by 6.12 percent.
“The proposed tax increase for a home with a fair market value of $325,000 is approximately $127.62 and the proposed tax increase for non-homestead property with a fair market value of $325,000 is approximately $129.61,” the notice states.