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CFO: millage rise driven by state-required local effort and higher property values; $76.90 per $100,000 example
Summary
CFO Jonathan told the board the proposed millage increase reflects a state-set required local effort and a $464 million rise in property values; he said the increase translates to about $76.90 for every $100,000 of taxable value and that the full $300 million bond costs $226.10 per $100,000.
CFO Jonathan told the Putnam County School Board that two primary factors are driving the district's millage increase for FY 2026–27: a state-mandated rise in the required local effort and an increase in local property values.
He offered specific figures: the rolled-back millage is 5.1549, the proposed millage excluding debt is 5.3730 (projected to generate 104.23% of last year's tax revenue), and property values rose by $464,000,000 (from $8,524,000,000 to $8,988,000,000). "For every $100,000 in taxable property value a taxpayer has, they will see a $76.90 increase in their taxes due to PCSD's millage rate increase this fiscal year," Jonathan said. He added that when the full voter-approved $300,000,000 bond is included, the total bond tax per $100,000 is $226.10 for the life of the issuance.
Jonathan also explained the recent issuance of the final $100,000,000 tranche of bonds increased the district's debt-service millage this year; he described how the district calculates millage to match debt-service obligations and stated the debt millage will decline as bonds are paid off unless new debt is approved by voters.
Provenance: Presentation and Q&A covering rollback, proposed millage, property-value drivers, and tax-impact tables (SEG 075–SEG 096; SEG 467–SEG 505).
