9 10 19 Meeting Audio

This hearing is being held pursuant to the provisions of KRS 160.470 for the purpose of hearing public comments regarding a proposed 2019 General Fund tax levy of 73.6 cents on real property and 73.6 cents on personal property.

The General Fund tax levied in fiscal year 2019 was 72.5 cents on real property and 72.5 cents on personal property and produced revenue of $497,980,297.14. The proposed General Fund tax rate of 73.6 cents on real property and 73.6 cents on personal property is expected to produce revenue of $542,408,828. Of this amount, $56,500,531 is from new and personal property. The compensating tax rate for 2020 is 70.7 cents on real property and 70.7 cents on personal property and is expected to produce $521,036,740.93.

The result of this for a $100,000 home would be, on average, 92 cents a month or $11 a year.

The general area to which revenue of $30,835,839 above 2019 revenue is to be allocated is: Cost of Collections $614,624; Building Fund $1,765,649; Instruction $22,508,352; Transportation $1,963,434; and Maintenance of Plant $3,813,046.

Submitted by: Cordelia Hardin

• 9 10 19 Meeting Notice

Order #2019-155 - Motion Passed:  A motion to adjourn the Tax Rate Hearing passed with a motion by Mr. Chris Brady and a second by Mr. James Craig.