The decision by the Bulloch County Tax Assessor’s office to increase the value of certain income producing property in Bulloch County means the Bulloch County Board of Education will cut its milage rate by 1 mil. Without that action the increase in revenue would appear to be a tax increase which would mean a series of public hearings would be required.
The action was taken after Tony Brown, chief financial officer for the Bulloch County School system, told the board of directors the reduction would eliminate the need for hearings. Even though funds will be reduced about $175,000 the higher evaluations will still result in increased revenue for the school system in the future. He also said another rollback in the system’s millage rate is expected next year, too.
The new rate was set at 9.848 mils, more than a full point below the current 9.95 mils. That should result in a slight reduction most home owners will be assessed. Another positive factor is an $18 million balance.
The new millage rate was approved by a 7 to 1 vote at last week’s Board of Education’s meeting and is expected to be adopted at the August 14 meeting. The lone no vote came from board member Anshul Jain.