Springfield’s City Commission approved the budget for the next fiscal year at their Sept. 23 meeting. To see the approved budget, visit this page.
The approved budget includes a reduction from the rolled back millage rate. (The rollback millage rate is the property tax rate that would produce the same revenues from existing properties.) The millage rate was lowered from 5.8587 to 5.5300.
The millage rate reduction results in about $1.8 million remaining with taxpayers. The $255 million tentative budget is 2.57% lower than the current year’s adopted budget primarily due to the financial impact of the COVID-19 pandemic. Fiscal Year 2020/21 runs from Oct. 1, 2020, to Sept. 30, 2021.
