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Proposed 6.223 millage: lower rate but higher property values mean more revenue
Summary
CFO Dawn Posey told the board the proposed 2026–27 total millage would be 6.223 (down from 6.272), but rising assessed values are projected to increase revenue to about $142.2 million, triggering a notice of proposed tax increase under rollback-rate rules.
Dawn Posey, the district’s chief financial officer, told the board that the proposed total millage for 2026–27 is 6.223—down from 6.272 in 2025–26—but rising property values will raise district revenue. Posey said Clay County’s taxable value rose from roughly $21.9 billion to about $22.8 billion, producing an estimated $142,200,000 under the proposed rate.
Posey explained the rollback rate (the rate that would generate prior‑year revenue using current‑year values) and calculated a rollback of about 6.1294; because the proposed 6.223 rate is higher than that rollback, the district must advertise a notice of a proposed tax increase. Posey emphasized that the change in total dollars collected is driven by assessed‑value increases rather than the millage rate itself.
She also ran two homeowner scenarios to show effects on individual bills: for a $200,000 home with no value change, taxes fall from $1,097.60 to $1,089.03 (about $8.57 decrease); with a 3% assessed‑value increase, taxes are $1,126.36 compared to last year’s $1,097.60 (an increase in payment tied to value growth). "So overall, the change in the total amount generated has nothing to do with the millage, but everything to do with the assessed value of the property," Posey said.
The board approved the tentative millage resolutions as part of the budget motions; staff will publish required TRIM notices and present final figures at the Sept. 10 hearing.
