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The $1.219-billion budget is 4.4 percent less than last year's.
By MONIQUE FIELDS, Times Staff Writer
© St. Petersburg Times, published September 18, 2002
LARGO -- Pinellas School Board members Tuesday approved the district's $1.219-billion budget for the 2002-03 school year.
The budget includes an average 4.9 percent raise for teachers at a cost of $15.6-million and an additional $4.5-million for a reserve fund, bringing that fund's total to $21-million.
"The board asked us to put money aside for the anticipated increased costs associated with choice," said Doug Forth, the district's budget director. "It's supposed to help us pay for the increase in transportation."
The budget is $56.3-million less than a year ago, a decrease of 4.4 percent.
The dip comes as projects have been completed, including Jamerson and Sanderlin elementary schools, as well as the new Paul B. Stephens Exceptional Center.
The budget includes a slight decrease in the property tax rate.
The proposed tax rate for next year is 8.449, down from 8.487 mills last year. A mill is equal to $1 in tax for every $1,000 of assessed taxable property value.
The owner of a $100,000 home with a $25,000 homestead exemption would pay $633.68 in school taxes, down from $636.53.
To determine school district taxes, take the assessed value of a home, and if it qualifies for the $25,000 homestead exemption, subtract the amount from the assessed value. Divide that number by 1,000 and multiply by 8.449.
Even with the slight decrease in this year's rate, tax bills may not be lower because property values increased by about 7 percent and other agencies levy taxes in Pinellas County.