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I.
CALL TO ORDER
II.
ADOPTION OF AGENDA
Motion Passed: Approval of the agenda as written was passed with a motion by Ms. Jenny Hobson and a second by Ms. Donna Lovell.
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Dr. Jacqueline Burnside
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Absent
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Ms. Jenny Hobson
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Yes
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Mr. J. Morgan
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Yes
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Ms. Donna Lovell
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Yes
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III.
BUSINESS/ACTION ITEM FOR BOARD CONSIDERATION
III.A.
2026-2027 General Fund Tax Levy
In accordance with KRS 160.470 (House Bill 44), the Berea Independent Board of Education has proposed a General Fund tax levy for the fiscal year 2026-2027. The proposed tax rates and expected revenues have been calculated and are detailed below.
Current 2026 Rate: 86.7 cents on real property and 88 cents on personal property (per $100 of assessed value)
Evaluation of the Compensating Rate ($0.845) and the 4% Increase Rate ($0.878) has been completed. District staff recommends proposing a tax levy of $0.878 per $100 assessed value for Real Property and $0.880 per $100 for Personal Property.
Impact on Berea Independent: The compensating rate would produce an amount of revenue equal to what was billed in 2026. The 4% Increase Rate would produce $106,524 in additional revenue.
Impact on Taxpayers: For a residential property valued at $100,000, the 4% rate represents an approximate increase of $11 per year. The compensating rate would represent a $19/year reduction for the same property.
Recommended Action:
Approve the proposed 4% increase tax rate for real and personal property requested by Mr. Nathan Sweet, Director of Operations, and recommended by Dr. Neaves, Superintendent.
Under updated Kentucky statutory requirements (HB 757 amending tax rate adoption procedures), local school districts must complete a multi-step public process prior to the final adoption of annual property tax rates.
Boards must vote on a proposed rate, then public notice requirements must be followed. After the two week public notice period is over, the board will meet to officially set tax rates.
The Board of Education must formally consider and select a proposed tax rate prior to advertising any rate above the compensating rate. Failure to do so will result in the automatic adoption of the compensating rate.
Current 2026 Rate: 86.7 cents on real property and 88 cents on personal property (per $100 of assessed value)
Evaluation of the Compensating Rate ($0.845) and the 4% Increase Rate ($0.878) has been completed. District staff recommends proposing a tax levy of $0.878 per $100 assessed value for Real Property and $0.880 per $100 for Personal Property.
Impact on Berea Independent: The compensating rate would produce an amount of revenue equal to what was billed in 2026. The 4% Increase Rate would produce $106,524 in additional revenue.
Impact on Taxpayers: For a residential property valued at $100,000, the 4% rate represents an approximate increase of $11 per year. The compensating rate would represent a $19/year reduction for the same property.
Recommended Action:
Approve the proposed 4% increase tax rate for real and personal property for public advertisement.
Under updated Kentucky statutory requirements (HB 757 amending tax rate adoption procedures), local school districts must complete a multi-step public process prior to the final adoption of annual property tax rates.
Boards must vote on a proposed rate, then public notice requirements must be followed. After the two week public notice period is over, the board will meet to officially set tax rates.
The Board of Education must formally consider and select a proposed tax rate prior to advertising any rate above the compensating rate. Failure to do so will result in the automatic adoption of the compensating rate.
Current 2026 Rate: 86.7 cents on real property and 88 cents on personal property (per $100 of assessed value)
Evaluation of the Compensating Rate ($0.845) and the 4% Increase Rate ($0.878) has been completed. District staff recommends proposing a tax levy of $0.878 per $100 assessed value for Real Property and $0.880 per $100 for Personal Property.
Impact on Berea Independent: The compensating rate would produce an amount of revenue equal to what was billed in 2026. The 4% Increase Rate would produce $106,524 in additional revenue.
Impact on Taxpayers: For a residential property valued at $100,000, the 4% rate represents an approximate increase of $11 per year. The compensating rate would represent a $19/year reduction for the same property.
Recommended Action:
Approve the proposed 4% increase tax rate for real and personal property for public advertisement.
Motion Passed: Approve the proposed General Fund tax levy of 87.8 cents per $100 assessed value on Real Property and 88.0 cents per $100 assessed value on Personal Property for the fiscal year 2026-2027 passed with a motion by Ms. Jenny Hobson and a second by Ms. Donna Lovell.
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Dr. Jacqueline Burnside
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Yes
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Ms. Jenny Hobson
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Yes
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Mr. J. Morgan
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Yes
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Ms. Donna Lovell
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Yes
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IV.
ADJOURNMENT
Motion Passed: Approval to adjourn the meeting passed with a motion by Dr. Jacqueline Burnside and a second by Ms. Jenny Hobson.
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Dr. Jacqueline Burnside
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Yes
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Ms. Jenny Hobson
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Yes
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Mr. J. Morgan
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Yes
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Ms. Donna Lovell
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Yes
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