Portage County approves 2024 tax rates amid rising property valuations

The Aurora City Schools District Board has approved a crucial annual resolution that sets the tax rates for the upcoming calendar year. This decision, made during the February 25, 2025 meeting, is significant as it directly impacts funding for the district's debt service and overall budget.

The resolution aligns with the recent property valuation reevaluation in Portage County, which saw a notable increase of 32.11%. The total real property valuation in the district surged from approximately $882.6 million to over $1 billion. Despite this increase, the effective tax rates for homeowners and commercial properties will see a decrease. Homeowner millage rates dropped by 9.62 mills, bringing the total to 37.127 mills, while commercial and industrial rates fell by 10.162 mills to 47.066 mills. Overall, residential millage has decreased by 20.6%.

This reduction in millage rates, despite rising property valuations, is attributed to the inside millage, which remains unaffected by the changes. The inside millage accounts for about 12% of the total millage, allowing the district to secure additional funding despite the overall decrease.

The board's approval of this resolution is a pivotal step in ensuring the district can effectively manage its financial obligations while providing necessary resources for educational programs. Further discussions and questions regarding the resolution were welcomed, indicating a commitment to transparency and community engagement in financial matters.