Historic 15.2-millage reduction in five years comes while district invests $226 million in construction, wipes out long-term debt and maintains $50 million fund balance.
Florence, S.C. — As property tax bills begin to arrive, Florence 1 Schools announces that it has lowered its tax millage once again. This is the third time in five years that Florence 1 has lowered taxes.
Over the last five years, the district has decreased its debt millage by 15.2 mills, leading to direct taxpayer relief and allowing businesses to reinvest in the Florence community. The reduction represents a deliberate step by the Florence 1 Board of Trustees and district leadership to ensure that taxpayer dollars are managed carefully, efficiently and with a long-term perspective, while maintaining its focus on providing outstanding educational opportunities for students.
Florence 1 Superintendent Richard O'Malley said that this reduction is historic and an accomplishment that no other school district in South Carolina has achieved.
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"Lowering taxes while continuing to invest in our students and staff is a responsibility we take very seriously," O'Malley said. "Our community deserves a school system that is both financially responsible and committed to excellence. We believe you can do both, protecting taxpayers today while making strategic investments that strengthen our schools for tomorrow."
Florence 1 has worked to maintain a strong financial position while making significant investments in classrooms, academic programs, school facilities, technology, the arts, athletics and student support services.
"The district's Board of Trustees' approach is centered on a simple principle," said Board Chairman Porter Stewart. "Every taxpayer dollar should be used wisely, and every investment should ultimately benefit students."
While reducing its debt millage, Florence 1 Schools has continued making significant investments in the future of its students and school community, including approximately $226 million in construction projects, while fully paying off its long-term debt and maintaining a $50 million fund balance.
"The combination of sustained tax reductions, major capital investment, zero long-term debt, and a strong fund balance represents an extraordinary level of financial stewardship for a public school district," said Chief Financial Officer Laura Showe. "The latest tax reduction builds on previous efforts by the district to control costs and maintain fiscal discipline. Rather than relying on fund balance to support recurring operating expenses, Florence 1 Schools has worked to maintain a sustainable financial position that provides stability and flexibility for the future."
Florence 1 Schools will continue to evaluate its financial practices, identify opportunities for greater efficiency and make strategic investments that support student achievement and the long-term strength of the school district.
"Our goal is not simply to have a balanced budget," said F1S Board Vice Chair Trisha Caulder. "Our goal is to be exceptional stewards of public resources. We want our taxpayers to have confidence that we are making thoughtful decisions with their money, while our students continue to receive the opportunities they deserve."
"This is about more than lowering taxes," said Superintendent Richard O'Malley. "It is about demonstrating that a school district can be ambitious in its investments, disciplined in its spending, and responsible to the taxpayers who make our work possible."
