The Jefferson County School Board will vote on Monday night to increase property tax by a tenth of a cent.
This means a house valued at $100,000 dollars would pay an additional one dollar per year.
The school board has raised property tax for three straight years to help balance the budget. This year’s increase would be the smallest over the previous years’ raises. Last year’s tax increase of three cents was the district’s largest over the past three years. And it brought around $28 million dollars to the district.
State law says taxing districts can increase their rates annually. But the resulting revenue increase cannot exceed four percent. JCPS officials say the increase will not create any additional revenue for the district.
JCPS is the largest district in the state and it has an operating budget around $1 billion.
Tonight is the first school board meeting of the school year.
School Year/Tax Increase (per $100,000 of assessed property value)
2011-2012: 67.7 (proposed)