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The Marion County Board of Education has proposed to keep the same millage rates, which will result in small 1.3 percent and 1.58 percent increases in its Maintenance and Operation (M&O), and Bond tax levies for 2006 (fiscal year 2007). The School Board plans to set a millage rate of 15.0 for the M&O and 1.75 for the bond levy. Those are the same millage rates as last year, but the amount of taxes expected to be generated is a little higher due to a larger tax digest.
The 1.3 percent increase in maintenance and operation taxes is expected to bring in $2,883,214, which is $3,748 more than last year. Meanwhile, the 1.58 percent increase in bond taxes is expected to generate $340,739, which is $535 more than last year. Combined, the increase in tax revenue will be around $4,284.
The School Board will vote to officially adopt the new millage rates in a meeting on Wednesday, August 23 at 7 p.m. in the Office of the Superintendent.
City of Buena Vista:
The City of Buena Vista has tentatively set a millage rate for 2006 that will result in a modest 2.18 percent increase in property taxes.
The City Council has proposed a millage rate of 17.0, which is up slightly from last year’s 16.5. The new rate is expected to generate around $495,270 in taxes, which is an increase of $10,548 (or 2.18 percent) from 2005.
Council members will vote to officially adopt the new millage rate in a meeting on August 23 at 5:30 p.m. |
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