ST. JOHNS COUNTY, Fla. — On Tuesday the St. Johns County School Board signaled that it was giving approval to decrease the district's portion of the millage rate by 33 cents, going from 5.81 mills to 5.48.
One mill is equal to $1 in property taxes which is levied for every $1,000 of your property's taxable value. However, the decrease doesn't necessarily mean you will pay less next year.
"A St. Johns County citizen could be paying more in school board taxes if their value was propertied more or assessed higher than the prior year," explained the district's Chief Financial Officer Gretchen Saunders.
She outlined the changes in the county's assessed property values over the years, increasing from $37 billion dollars last year to $45 billion this year.
The values have risen since 2013 when the county's assessed value was just below $19 billion.
"The taxes in the county are going up exponentially and that is going to affect everyone in this room," said one man who spoke during public comment.
He told the board his tax bill increased 26%. In Florida, properties with a homestead exemption, are limited to a maximum 3% increase each year.
"The appreciation on the houses have gone up significantly since I came down here. Which means that's a windfall for government in the taxation side of this equation," the man said.
The overall millage rate has not been set for next year. The St. Johns County Board of County Commissioners is expected to have a final vote on its portion of the millage rate next week.
As we reported, the board doesn't plan to increase its rate and could decrease it.