All About the Mission - August 9
Ok, show of hands. Who understands a roll back rate? With the significant increase in the tax digest for Augusta-Richmond County over the last year, this is a term we are certain to hear more about as both Augusta-Richmond County and the Richmond County Board of Education consider their budgets for the upcoming fiscal years.
The Richmond County Board of Education has recently announced its recommended millage rate which will be less than the current millage rate. Based on an estimated increase in property values (tax digest) over the last year for the county of $2.3 Billion, taxpayers should expect a reduction in the millage rate, especially as many property owners contend with increased assessments. As the value of property grows in the county as a reflection of growth and adjusted market value, it should be the expectation of every tax paying property owner that governments and schools carefully weigh the potential increases in property taxes against the value of services being received.
In preparation for its upcoming public meetings regarding a proposed new tax rate for the RCBOE, the district has developed information regarding what the roll back rate would be to generate the same amount of revenues as the previous year. Even with a slight increase above that rate, it will still be the lowest rate for the district in almost 20 years. The rate proposed for the upcoming fiscal year will maintain and address rising costs as well as continue to maintain the district’s ability to offer competitive teacher salaries that help recruit and retain highly qualified teachers, provide the latest textbooks and technology resources to support learning, maintain safe and clean learning environments and fuel and service the existing transportation fleet. To learn more about the Millage Rate and how our school system uses your tax dollars to support student learning and achievement, click here
As a community, we should be celebrating the many benefits of a rising tax digest. It is indicative of a growing economy, more investment and more jobs. With a stagnant digest, governments and schools are faced with rising costs with little alternative than to increase millage rates. As we look to Augusta-Richmond County to develop its budget for 2023, it will be all about our mission to ensure a balanced approach to maintaining year over year budgets and sustaining investments that will yield the most return to our community.