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Board shown millage scenarios and Act 1 index projections as budget planning tool
Summary
Finance staff demonstrated how assessed‑value growth and different millage increases (quarter‑mill to the full Act 1 index) would change revenue, noting a quarter‑mill would raise about $489,000 and raising to the full index could yield about $1.3 million.
During the budget briefing Mrs. Lent outlined simple millage scenarios to illustrate tradeoffs between assessed‑value growth and a tax increase. She said the district’s assessed value as of November and early February underpins the projections and that by not raising the millage, small increases in revenue can still come from assessed‑value growth. “A quarter of a mill bringing in an additional about 489,000,” she said, and added that “if you would go clear to the index, that would be bring in about 1.3 million.”
The presenter also summarized how the Act 1 base and adjusted indexes are calculated and noted Big Spring’s adjusted ACT 1 index was 4.3% for 2026–27. She offered rough multi‑year projections from the state fiscal office so the board could see what the index cap might look like in later years, and cautioned that the board must file paperwork with the state when choosing not to raise taxes above the index.
