St. Martin school taxes down slightly
Residents of St. Martin Parish who pay property taxes will get a slight break on their 2016 tax bill following action taken last week by the St. Martin School Board.
Board members set the millage rate to be levied for school operations and bond service during a special meeting held on May 18 at 33.51 mills for 2016, a slight decrease from the 2015 level of 33.84 mills.
The reduction was possible, in part, due to increases in the value of assessed property in the parish and despite the impending sale of $10 million in bonds set for next month, the first installment of a $64.5 million bond issue approved by voters earlier this year.
Over the past 20 years the board levied millage has been gradually reduced from the 41.94 mills of 1995.
Mills dedicated to bond retirement stood at 26 mills in 1995 but has been set at 21.5 mills since 2009 even though the board has financed bond issues of $30 million in 2009 and $40.3 million in 2013.
The individual millages levied, in 2016 and 2015, are as follows:
•Constitutional tax – 2.48 mills, down from 2.56 in 2015.
•Maintenance tax – 7.91 mills, down from 8.16.
•Operations tax – 1.62 mills, unchanged.
•School bonds tax – 21.5 mills, unchanged.