Pike school system cuts millage rate

The board of education established the millage rate at a brief meeting Thursday, Aug. 27.”The millage rate is less than last year,” financial director Kenneth Carter said. “And the dollars generated by these rates are the very same as last year.”The net total millage rate established by the board is 14.379 for 2009, which is for the fiscal year 2010 budget. That is 13.252 mills for maintenance and operations, and 1.127 mills for bond.The total taxes levied are $7,167,630. That is the same amount levied for 2008.The net total millage rate set by the board of education for 2008 was 14.518.In June the Pike board of education adopted a balanced budget of $22.6 million for the fiscal year spanning from July 1, 2009 until June 30, 2010. But in August the board trimmed that budget to $22 million due to funding cuts made by Gov. Sonny Perdue.The millage rate, also known as the tax rate, is a figure applied to the value of property to calculate the property tax liability, according to MillageRate.com.