Jefferson school board property tax increase to be less than expected
The Jefferson County Public School (JCPS) Board has settled on a 4% increase rather than the 4.8% it originally suggested.
A “personal property” and “real property” revenue increase of 4% percent would, according to the board’s estimation, provide a gross revenue of over $706m. Mark Hebert, a spokesperson for JCPS, which educates the majority of Louisville students, says that approximately 46% of the school district’s revenue is derived from local property taxes such as those levied on land, homes, and boats.
The JCPS budget is currently $2.1bn. The current tax rate is 76.3 cents for real property and 76.8 for personal property. According to Mark Herbert, the new tax rate cannot be calculated yet. He explains:
It is unlikely that those certifications will be in before August. Printing services help government agencies keep the public informed in cases like this.
Herbert revealed that exploding Jefferson County property values over the last two years have garnered a revenue increase of 4% without a tax rate increase. In fact, the board was able to grow the revenue by 4% while cutting the tax rate increase. Superintendent Dr. Marty Pollio believes this might be possible again this year.
A “personal property” and “real property” revenue increase of 4% percent would, according to the board’s estimation, provide a gross revenue of over $706m. Mark Hebert, a spokesperson for JCPS, which educates the majority of Louisville students, says that approximately 46% of the school district’s revenue is derived from local property taxes such as those levied on land, homes, and boats.
The JCPS budget is currently $2.1bn. The current tax rate is 76.3 cents for real property and 76.8 for personal property. According to Mark Herbert, the new tax rate cannot be calculated yet. He explains:
"The school board and district won't know for certain what tax rate(s) might result in a 4% boost in revenue until the assessments submitted by the Jefferson County Property Valuation Administrator are certified by the Kentucky Department of Revenue."
It is unlikely that those certifications will be in before August. Printing services help government agencies keep the public informed in cases like this.
Herbert revealed that exploding Jefferson County property values over the last two years have garnered a revenue increase of 4% without a tax rate increase. In fact, the board was able to grow the revenue by 4% while cutting the tax rate increase. Superintendent Dr. Marty Pollio believes this might be possible again this year.