As required by KRS 160.470 (7), advertising and hearing requirements must be met in order to levy a tax rate that exceeds the compensating tax rate.  An advertisement was placed in The State Journal newspaper on August 7 and August 14.

The purpose of this hearing is to hear public comments on a proposed tax levy of 51.80 cents on real property and 51.80 cents on personal property.

Motion Passed:  Adjourn Tax Hearing @ 7:02 p.m. passed with a motion by Mr. William Cofield and a second by Mr. Doug Crowe.

The Board is required to set the tax rate for 2007 for all motor vehicles and watercraft.  The proposed rate of 51.0 is the same rate that has been levied since 1983.

That the Franklin County Board of Education levy a property tax rate of 51.0 cents per $100 of assessed value upon motor vehicles and watercraft for the calendar year of 2007.

Motion Passed:  That the Franklin County Board of Education levy a property tax rate of 51.0 cents per $100 of assessed value upon motor vehicles and watercraft for the calendar year of 2007. passed with a motion by Mr. William Cofield and a second by Stanley Salchli.

In 2006, a property tax rate of 51.6 was levied by the Franklin County Board of Education.  For 2007, a tax rate of 51.8 is proposed for both real estate and tangible personal property. 

That a tax rate of 51.8 be levied for 2007

Motion Passed:  That a tax rate of 51.8 be levied for 2007 passed with a motion by Mr. William Cofield and a second by Stanley Salchli.

The next meeting of the Franklin County Board of Education will be Tuesday, September 5, 2006, at the Central Office.

That the meeting be adjourned

Motion Passed:  That the meeting be adjourned 9:08 p.m. passed with a motion by Mr. William Cofield and a second by Stanley Salchli.