The Fannin County School System opted to go with a rollback millage rate of 10.391 for 2020 during a Board of Education meeting Thursday, August 13.
This rate is down from 2019’s rate of 10.593.
Finance Director Susan Wynn explained that the system’s Net M&O (Maintence and Operations) digest is listed at $1,653,192,129. This is an increase from last year’s amount of $1,595,208,459.
The total taxes levied in 2019 was listed at $16,898,043, while the figure for 2020 shows a 1.66% net increase, or $280,276, at $17,178,319 total.
The millage rate for the school system has decreased since 2012 when the rate was listed at 12.9. At that time, the value of one mill was $1,137,359.46 and the total taxes levied was $14,671,937.00.
Last year, the value of one mill was listed at $1,602,923.06, and the total taxes levied was $16,979,764.00.
Wynn lists 2020’s figures at $1,653,192.13 for the value of one mill, and $17,178,319.41 for total taxes levied.
The system will advertise the current 2020 tax digest and 5-year history of levy in The News Observer before officially adopting the millage rate during a meeting Thursday, August 27 at 4 p.m.