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I.
Tax Rate Hearing for Fiscal Year 2020-21
This hearing is being held pursuant to the provisions of KRS 160.470 for the purpose of hearing public comments regarding a proposed General Fund recall tax levy for FY 2020-21 of 81.6 cents on real property and 81.6 cents on personal property. The current 2019-20 rate is 73.6 cents.
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 81.6 cents on real property and 81.6 cents on personal property is expected to produce revenue of $601,366,309. Of this amount, $69,141,825 is from new and personal property. The compensating tax rate for 2019-20 is 70.7 cents on real property and 70.7 cents on personal property and is expected to produce $521,036,740.93.
For a home valued at $100,000, this would be, on average, an increase of less than 22 cents a day or $80 a year.
The general area to which revenue of $103,386,012 above 2019 revenue is to be allocated is: Cost of Collections $3,618,510; Building Fund $12,923,252; Instruction $72,370,208; Transportation $3,101,580; and Maintenance of Plant $11,372,461.
Submitted by: Cordelia Hardin
Attachment
Please note: In light of Covid-19 concerns, special procedures will be in place at the Hearing so that citizens can make comments to the Board while at the same time maintaining social distancing. Public speakers will only be able to address the Board via video-teleconference by going to VanHoose Education Center and adhering to the following guidelines: JCPS Guidance for Speakers at May 21 Board Meeting. Also in light of Covid-19, the Board will receive comments in writing either via email or regular mail before the meeting. Such comments must be received at angela.gilpin@jefferson.kyschools.us or Angela Gilpin, 3332 Newburg Road, Louisville, KY 40218, before 5:00 p.m. May 20 to be considered by the Board.
Order #2020-59 - Motion Passed: A motion to adjourn passed with a motion by Mr. James Craig and a second by Dr. Corrie Shull.
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