Keeping the public aware of changes that affect them is often facilitated with the help of flyer printing services.
In May of this year a tentative budget of $801.8 million was approved for the 2024-2025 fiscal year by the Fayette school board. This was followed on August 2 by a certified net assessment from the Department of Property Taxation along with the state Department of Education concerning current growth and tax rates. Current rates are 81.0 cents per $100 in value in real estate and 83.3 cents per $100 in value in personal property.
As a result, a tax rate of 80.9 cents (real estate) and 83 cents (personal property) has been levied by the Board of Education per assessed valuation for the 2024-2025 school year. The motor vehicle tax remained unchanged at 59.2 cents for each $100 of assessed value.
Board Chair Tyler Murphy commented on the rate cut in a statement from the school district saying:
“Essentially, it allows us to lower the rate while still fulfilling the budget obligations approved in May.”
According to the school board agenda the tax rate cuts will have a fiscal impact of $325,733,780.53.