(9)(c) Requires a Minimum Millage Rate to Qualify for Equalization: (9) "Qualified local school system" is defined as any local school system: (A) Having an assessed valuation per weighted full-time equivalent count for the year of the digest which is below the guaranteed valuation; (B) Having an effective millage rate greater than the millage rate applied to calculate the local five mill share pursuant to subsection (a) of Code Section 20-2- 164; and (C) Beginning July 1, 2015, having a millage rate or an equivalent millage of at least 12 mills; beginning July 1, 2016, having a millage rate or an equivalent millage of at least 12 1/2 mills; beginning July 1, 2017, having a millage rate or an equivalent millage of at least 13 mills; beginning July 1, 2018, having a millage rate or an equivalent millage of at least 13 1/2 mills; beginning July 1, 2019, and thereafter, having a millage rate or an equivalent millage of at least 14 mills.

Historical  Equalization Funding
FY16	$                654,500.00
FY17	$                790,135.00
FY18	$                723,816.00
FY19	$                878,777.00
FY20	$                836,743.00
FY21	$             1,058,633.00
FY22	$             1,457,091.00
FY23	$             1,502,541.00
FY24	$             1,339,180.00
FY25	$             1,588,933.00
Total	$          10,830,349.00
This chart shows the historical financial impact of Educational Equalization.  FY25, it is 15.6% of the total QBE allotment

 

School Tax Comparison for $100,000 home
40% Assessed Value	Millage Rate	Total Tax	Decrease
$                   40,000.00	14.062	$  562.48
$                   40,000.00	14.000	$  560.00	$       2.48
$                   40,000.00	13.121	$  524.84	$    37.64
This chart compares the tax impact on a residential home on the current millage rate, the millage rate at the equalization minimum, and the  assessor's proposed rollback millage rate.

 

Value per mill of tax
2024 Tax levy	$             3,268,409.00
Current Millage Rate	14.062
Value per mill	$                232,428.46
This chart is reflecting the value of a mill of tax.  For FY25, the amount received in equalization is worth 6.836 mills of local tax.

 

10 Year Millage Rate History
2014	15.110
2015	15.110
2016	15.110
2017	15.110
2018	15.098
2019	15.095
2020	15.095
2021	14.250
2022	14.250
2023	14.062
2024	14.000
The millage rate has decreased by 1.11 mills since 2014.