Flagler County School Board members and staff heard some sobering news Tuesday night: The district's revenues will be about $3.8 million less than they anticipated.
Taxpayers, on the other hand, have reason to celebrate. Their property tax rate should be lower than it was last year.
Chief Financial Officer Tom Tant told the board during a regular meeting that state officials told him they'd lowered the tax rate and, as a result, school revenues from the estimates they gave districts earlier in the year.
Property owners can expect a tax rate of $7.943 per $1,000 of taxable property value. That's down from the current rate of $8.031 per $1,000 -- and the rolled-back rate of $8.5791. The rolled-back rate is the rate necessary to produce the same revenue as the current rate, using new assessments of the same properties.
For the school district, the new tax rate will mean whittling down its operating budget, which includes salaries, instructional expenses and utility costs. The district had planned to spend slightly less than $95 million.