The Floyd County Board of Education voted Tuesday to approve a property tax rate lower than originally proposed, setting the millage rate at 16.83 mills—the lowest for the school system since 2001.
The approved rate is lower than the rollback rate calculated by the county tax assessor’s office, resulting in a 0.35% tax decrease. The rollback rate for the school system would have been 16.894 mills.
Board members said the decision reflects a commitment to easing the tax burden on local property owners while maintaining support for school operations.
The move comes after weeks of budget discussions and public input. Officials acknowledged that while the original proposal would have kept more funding in place for long-term projects, the lowered rate still allows the system to meet operational needs without raising additional revenue beyond what is necessary.
“This is a significant step,” board members said during the meeting. “We’ve been mindful of the economic pressures on our community and worked to balance that with the needs of our students and staff.”
