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Board tentatively sets millage increase, schedules hearings and authorizes staff to pursue financing steps
Summary
The board announced a tentative millage rate increase (a 6.38% increase leading to a 20.3 mill rate) and scheduled virtual public hearings; in executive session the board authorized staff and bond counsel to pursue PFA conduit financing and to refinance 2014 certificates if economically appropriate.
City Schools of Decatur board members on June 10 announced a tentative millage rate increase, scheduled related hearings and, in executive session, approved staff actions to advance financing for the district’s proposed capital improvements.
Lede: the board tentatively adopted a proposed millage rate that would represent a 6.38% increase—raising the rate to 20.3 mills (an increase of roughly 1.217 mills). District staff said a $700,000 fair market value home would see an estimated tax increase of about $426 under the tentative rate and a non‑homestead property assessed at $900,000 would see about $548 increase. The board scheduled virtual public hearings on the proposed tax increase on…
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