Jefferson County
September 14, 2021 4:30 PM
Tax Rate Hearing
I. Tax Rate Hearing for Fiscal Year 2021-22
Rationale

This hearing is being held pursuant to the provisions of KRS 160.470 for the purpose of hearing public comments regarding a proposed 2021-22 General Fund tax levy of 79.6 cents on real property and 79.6 cents on personal property.

The General Fund tax levied in fiscal year 2021 was 80.6 cents on real property and 80.6 cents on personal property. The General Fund tax rate billed in fiscal year 2021 was 75.5 cents on real property and 75.5 cents on personal property and produced revenue of $550,171,349. The proposed 2021-22 General Fund tax rate of 79.6 cents on real property and 79.6 cents on personal property is expected to produce gross revenue of $636,688,585. Of this amount $68,038,314 is from new and personal property. The compensating tax for 2021-22 is 76.5 cents on real property and 76.5 cents on personal property and is expected to produce $611,892,924.

The general areas to which estimated revenue of $57,038,555 above 2021 revenue is to be allocated are as follows: Cost of Collections, $7,458,623; Building Fund, $7,453,759; Instruction, $31,475,658; Transportation, $2,591,940; and Maintenance of Plant, $8,058,575.

Submitted by: Cordelia Hardin

 

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