The Ministry of Government Relations will conduct further review and consult with business stakeholders and the municipal sector to develop a long-term policy for placing limits on mill rate
factors to take effect in 2014.
SDCL 10-13-35, 10-13-38) When assessments rise faster than these tax limits, local officials compensate by lowering the mill rate
Thus, counties with low taxable values tend to have high mill rates
, and vice-versa.
A mill rate
equal to half the annual amount "would be more representative of such operations and would be an incentive for them to stay in business and improve amenities," Pouliot suggested.
State law allows a maximum mill rate
of 50 but this would require a change to the district's service plan by Aurora.
This drawdown is largely due to pay-as-you-go capital expenditures (for which reserves were specifically set aside) and maintenance of mill rates
at their current levels.
EPT mill rates
are decided in the budget process and announced on budget day.
8 million) could have been levied with a mill rate
of only 275 mills.
ADEQUATE TAXING MARGIN: Recent assessed value (AV) losses required an increase in the district's limited debt service mill rate
but adequate margin remains beneath the cap to absorb additional AV losses or stagnant growth.
The 20-year bond for the project is a debt that has raised the mill rate
11 mill rate
have not been sufficient to cover debt service.
If the current budget request is approved, the mill rate
will go up .