MAYO — An adjustment to the millage rate led the Lafayette County School Board to recess its budget hearing last week.
The school board met July 30 for a public hearing to approve its tentative millage rate and budget for the 2019-20 fiscal year.
However, after advertising the required local effort portion of the millage rate as 3.838 mills, that rate was adjusted by the state to 3.858 — which will mean an additional revenue of $5,500.
So the budget hearing was recessed until Tuesday. The board’s final budget hearing is set for Sept. 5.
The district’s total millage rate is 6.1060 which also includes Capital Outlay rate of 1.5 mills and a basic discretionary operating millage of 0.748 mills, both of which are set by the board. The adjustment was made due to a decrease in property values in the county.