The Warren County Public Schools Board of Education will consider a proposed tax rate increase on real and personal property, and district taxpayers will have the chance to make their voices heard during a public hearing. The meeting will be at 7 p.m. Monday in Greenwood High School’s auditorium.
A recent notice published in the Daily News said the board is considering a rate hike to 46.6 cents, which is up from the previous rate of 46.1 cents per every $100 of real and personal property that was enacted last year.
The proposed rate hike is just one option before the board, however. The board could also opt to take the compensating rate – 44.9 cents on real and personal property – that would produce an amount of tax revenue roughly equal to the amount produced in the previous year from real property.
Regardless of what action the board ultimately takes, the district expects to take a hit in the amount of per-pupil funding it receives through the Support Education Excellence in Kentucky program, or SEEK funds.
Under the program, when the assessed value of a school district’s property tax base goes up, it sees a corresponding drop in its SEEK funds.
The district’s total assessed property value this year is $639 million, with roughly $330 million of that amount coming from new property, WCPS Chief Financial Officer Chris McIntyre said in an interview Friday.
McIntyre said the school district is anticipating a corresponding drop in SEEK funding of about $1 million. Last year, the district received $3,461 per pupil based on average daily attendance. This year, the district expects that figure to drop to $3,394 per pupil.
According to the board’s public notice, additional revenue will be allocated toward school safety, its building fund, instruction, transportation and facilities maintenance.
Likewise, the Bowling Green Independent School District’s Board of Education will also hold a public hearing Monday before setting its property tax rate.
According to a similar public notice, the board is considering setting the rate at 84.5 cents per $100 of real and personal property, which represents no rate change from last year.
The hearing will take place at 6 p.m. Monday at the district’s central office at 1211 Center St.