In a recent government meeting, officials discussed the implications of an upcoming referendum on the mill rate, which could see a significant change depending on the outcome. If the referendum fails in November, the mill rate is projected to increase by approximately 36%, raising concerns about the financial burden on taxpayers.
The district has historically aimed to maintain a stable mill rate to avoid drastic fluctuations in taxes from year to year. Officials emphasized the importance of strategic planning to manage debt and ensure that the mill rate remains steady. They noted that while the current mill rate has decreased from $8.26 to $7.65, this does not guarantee that taxes will not rise, especially with fair market values increasing by 8%.
The discussion highlighted the necessity of addressing future deficits, regardless of the referendum's outcome. If the referendum fails, the district will still pursue consolidations to manage financial challenges, but any future attempts to secure additional funding through a referendum could result in a substantial tax increase for residents.
Officials underscored the importance of investing in local schools to attract families to the Green Bay area, reinforcing the connection between educational funding and community growth. The meeting concluded with a call for continued engagement with the community as the district navigates these financial decisions.