The Orange County School Board has set the millage rate required to support the district's tentative 2019-20 budget.
During the School Board's July 30 meeting, members voted to approve a millage rate of 7.109 for 2019-20. The 2018-19 millage rate was 7.299. The breakdown for the 2019-20 fiscal year's millage rate is as follows:
- Required Local Effort: 3.861
- Basic Discretionary: .748
- Additional Voted: 1.000
- Capital Improvement: 1.500
Millage rates are the tax rates used to calculate local property taxes, and rates represent the amount per every $1,000 of a property's assessed value.
In addition to determining this fiscal year's millage rate, the School Board also approved the proposed tentative budget and the date for the final public budget hearing and adoption, The tentative 2019-20 budget is as follows:
- General Fund: $2,228,016,437
- Special Revenue Fund: $174,727,229
- Debt Service Fund: $224,838,528
- Capital Projects Fund: $1,402,416,774
- Internal Service Fund: $344,450,772
- Total: $4,374,449,740 (2018-19 total was $4,738,061,242)
The final public hearing for the fiscal year 2019-20 budget is scheduled for 5:30 p.m. Sept. 10., at the Ronald Blocker Educational Leadership Center, 445 W. Amelia St., Orlando. The tentative budget is contingent on final approval after this hearing.
For more information on the proposed FY 2019-20 budget, click here.