JCPS recommends lowering property tax rate for 2016-17 - WDRB 41 Louisville News

JCPS recommends lowering property tax rate for 2016-17

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LOUISVILLE, Ky. (WDRB) -- JCPS Superintendent Donna Hargens announced Friday she will ask the school board to slightly lower property taxes this year.

Hargens’ will recommend to the Jefferson County Board of Education on Aug. 22 that the tax rate decrease from 71 cents per $100 of assessed value to 70.8 cents, which means the owner of a $100,000 home would continue to pay about $708 in property taxes to JCPS, about two dollars less than last year.

A public hearing to discuss Hargens’ tax rate recommendation will be held Aug. 22 at 6 p.m. at the VanHoose Education Center, 3331 Newburg Road.

Hargens says the district must lower the rate or it would exceed the four percent revenue growth allowed by Kentucky law. If the district did not lower the rate, the rate would be subject to a recall by voters.

Under state law, a taxing district can adjust its rate annually, but the new rate cannot result in its revenue increasing by more than 4 percent. Any increase exceeding 4 percent requires a petition that puts the increase up for a referendum.

A legal advertisement about the potential decrease that will run in Saturday's newspaper.

Property owners in Jefferson County have seen their school tax rates steadily climb over the last decade. In 2004-05, the owner of a $100,000 home would have paid the school district $592 in property taxes -- $124 less than what the current rate yields. That equates to a 21 percent increase over the past 10 years.

However, higher property assessments over the past few years have generated additional revenue for JCPS, officials say.

This story will be updated.

Reporter Antoinette Konz can be reached at 502-585-0838 or @tkonz on Twitter.

Copyright 2016 WDRB News. All rights reserved.

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