Tax Rate Hearing

 For Fiscal Year 2016-17

This hearing is being held pursuant to the provisions of KRS 160.470 for the purpose of hearing public comments regarding a proposed 2017 General Fund tax levy of 70.8 cents on real property and 71.0 cents on personal property.

The General Fund tax levied in fiscal year 2016 was 71.0 cents on real property and 71.0 cents on personal property and produced revenue of $430,827,372.77. The proposed General Fund tax rate of 70.8 cents on real property and 71.0 cents on personal property is expected to produce revenue of $463,444,611. Of this amount, $51,697,844 is from new and personal property. The compensating tax rate for 2017 is 67.9 cents on real property and 71.0 cents on personal property and is expected to produce $446,454,675.31 in revenue.

The general areas to which revenue of $14,619,021 above 2016 revenue is to be allocated are: Cost of Collections $219,286; Building Fund $1,570,349; Instruction $8,863,384; Transportation $2,507,058; and Maintenance of Plant $1,458,944.

Audio: 8 22 2016 Tax Hearing

• 8 22 16 Public Hearing Notice

All persons who have requested to speak on the proposed rates will now be given an opportunity to present testimony. Each speaker is allowed 3 minutes to address the Board. At the end of 2-1/2 minutes, a bell will sound once. You will then have 30 seconds to finish your statement. At the end of 3 minutes, the bell will sound twice indicating your speaking time has ended.

Order #398 - Motion Passed:  A motion to adjourn at 6:37 p.m. passed with a motion by Mr. Chris Brady and a second by Mrs. Linda Duncan.