BAY COUNTY, Fla. (WMBB) – On Monday afternoon, the Bay District School Board unveiled the proposed 2023-24 budget, with funds substantially higher than last year.

The budget projects a total revenue of just over $700 million, $100 million more than last year.

Additionally, the board announced that the millage rate is project to be lower, decreasing from 5.504 mills to 5.483.

Their total revenue from the property tax is expected to reach $169 million, a 21% increase from their 2022-23 revenue.

“What that means for the average homeowner or property owner out there is that their millage is going down. So if the taxable value of their property is the same as it was last year, they’ll be paying less,” said Board Chair Steve Moss.

Moss attributed the revenue increase to a larger influx of Bay County residents.

“We will have unprecedented growth in Bay County for another year,” predicted Moss, ” a lot of times we have to turn back around and use a lot of that extra revenue that we get from taxes on new schools and the new students.”

A focal point in how to spend the funds includes expanding schools to serve more children. Expansion projects include Southport, Northside, West Bay, and Highland Park elementaries, as well as the Deana Bozeman School.

The meeting concluded with the board voting to approve the tentative budget for marketing. The District will hold workshops throughout the next month for further discourse.

The board slates to hold a public hearing for adopting the final millage rates and final budget on September 11th.