The primary focus of the meeting was the adoption of the tentative millage rates for the upcoming fiscal year. The proposed millage rates for 2024-2025 were compared to the previous year’s rates, revealing a decrease from 5.93 mills to 5.75 mills, which is 3.5% lower than the 2023-2024 adopted millage. Superintendent Michael Maine and Mr. Morrison presented detailed comparisons, highlighting changes in various components such as the required local effort, discretionary operating, additional voted millage, and capital outlay millage. The required local effort for 2023-2024 was 3.195 mills, which has been adjusted to 3.77 mills for 2024-2025, representing a decrease.

A major point discussed was the impact of the millage rates on local taxpayers. For a homeowner with an average assessed property value of $696,000, the 2024-2025 tax would be approximately $3,866, a 3.25% reduction from the previous year’s $3,992. However, considering an 8.01% increase in property values in Martin County, the actual tax decrease would be minimal, amounting to $8.32 or 0.23% less than the previous year.

Superintendent Maine confirmed that the public hearing was properly advertised in accordance with state law, and no written responses were received. The public was invited to provide input, but no individuals or organizations came forward to speak. Following this, the Board unanimously approved the tentative millage rates.

Following the approval of the millage rates, the Board reviewed the tentative budget for 2024-2025. The general operating fund increased to $23.5 million, driven primarily by higher local property taxes. The debt service fund decreased by $897,000 due to the refunding of the series 2014A refunding COP. Capital projects showed an $8 million increase, reflecting expenditures from the previously approved 5-year Capital Plan. The food service fund saw a slight increase, while federal funds decreased by $18.5 million, attributed to the spend-down of COVID-related funds.

The Board again invited public input on the tentative budget, but no comments were made. Consequently, the Board unanimously approved the tentative budget for 2024-2025.