On Sept. 9, the Lee County School Board approved a $2.9 billion budget during its final budget hearing for the 2024-2025 school year. The approved budget includes various millage rates that will raise funds through property taxes to support the district’s operations.
The breakdown of the millage rates is as follows:
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3.071 mills for the required local effort, raising $498,608,981
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0.0748 mills for basic discretionary funding, raising $121,445,626
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1.500 mills for capital outlay, raising $243,540,694
The total millage rate of 5.319 mills is a 1.43% increase from the rollback rate of 5.2441 mills and will raise $863,595,301 through property taxes.
For context, one mill equals $1 for every $1,000 of taxable property valuation.
Taxpayer Example:
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A $100,000 home last year, now valued at $105,390, would see a property tax increase of $31.97, bringing the bill to $560.57.
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For those with the Save Our Homes exemption, the taxable value can’t increase more than 3%. So, for a $100,000 home, the new value would be $103,000. At the approved tax rate, the new bill would be $414.88, a $18.43 increase.
The board also approved the final budget of $2,919,795,073, broken down into:
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General Operating Fund: $1,281,739,638
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Special Revenue Fund: $131,705,825
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Debt Service Fund: $99,018,536
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Capital Outlay Fund: $1,181,726,237
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Internal Service Fund: $225,604,837
This year’s budget represents a decrease of $114,667,599 from the previous year’s budget of $3,034,462,672.
Board members highlighted their efforts in achieving cost savings while still supporting all district students and staff. Board Member Melisa Giovanneli commended the savings found, while Board Member Bill Ribble emphasized the board’s efforts in ensuring transparency and clear communication with the community.
“We had some cutbacks, right sizing,” Ribble said. “But in the end, we’re setting up for a great future and making sure the community understands where every dollar is going.”
The budget ensures continued support for Lee County’s schools while balancing the needs of both the community and the district’s financial health.
