The St. Johns County School Board unanimously adopted the district’s 2021-22 tentative budget and tax rate on July 27. The final tax rate will be approved on Sept. 14.
The tentative tax rate was set at $5.81 per $1,000 of a property’s taxable value. This is a 14-cent reduction from last year’s rate of $5.95 per $1,000 of taxable value, or a reduction of 2.4%.
In fact, this is the lowest tax rate in more than a decade, made possible by the increase in the county’s property values. Current property values are $37,077,961,902 — or about $2.96 billion more than last year.
Of each $5.81, the district keeps 75 cents for discretionary funding and $1.50 for capital projects. The rest is turned over to the state for redistribution. This practice ensures that poorer districts receive equitable funding.
Though the tax rate is lower than last year, it marks an increase in actual dollars over the rolled-back rate of $5.69 per $1,000 of taxable value. The rolled-back rate is the tax rate that would generate the same amount of revenue as last year if applied to the current property tax roll.
The tax rate is mandated by the state and, if approved, would generate $215,497,115 — or about $12.4 million more than last year.
If the tentative tax rate of $5.81 is approved, the owner of a $400,000 home with a homestead exemption of $25,000 would pay $2,178.75 in school taxes next year. This is a reduction of $52.50, or 2%, from what the property owner paid last year.
The only way a property owner will see an increase is if the property value has risen since last year, according to figures from county property appraiser’s office.
The total tentative school district budget for 2021-22 is $1.02 billion. Of this, $438,916,200 will go toward the general operating fund. Revenue comes from property taxes, federal grants, a half-cent sales tax and more.
The tentative budget includes a 6% increase in capital outlay funds for motor vehicles. The district is planning to purchase 41 new school buses this year.
