SC RFA Releases CPI Used to Calculate FY2021-22 Millage Rate Limitations
The SC Revenue and Fiscal Affairs Office (RFA) has released the Consumer Price Index (CPI) that will be used to calculate the FY2021-22 millage rate limitations. See RFA’s memo. The CPI increase from calendar year 2019 to 2020 was 1.23 percent. Each county’s millage rate limitation for FY2021-22 will be based upon 1.23 percent plus any increase in population. The US Census Bureau plans to release July 1, 2020 county population estimates on May 4, 2021. This means counties will likely receive millage cap information by the first week of May, approximately a month later than usual. SCAC staff will forward the information to counties as soon as it is available. If you have any questions, please contact Mary Katherine Miller with the RFA at MaryKatherine.Miller@rfa.sc.gov or (803) 734-3322.