The General Fund tax levied in fiscal year 2019 was 84 cents on real property and 84 cents on personal property and produced revenue of $8,428,869.71. The proposed General Fund tax rate of 86.4 cents on real property and 86.4 cents on personal property is expected to produce $9,093,746.34, for a net revenue increase of $664,877.
The general areas to which the additional revenue of $664,877 is to be allocated are as follows: Cost of collections, $14,959.72; higher pension fund from the state, $40,000; $609,916.91 would be used for safety improvements to district school buildings in order to be in compliance by the 2022-23 school year with the School Safety & Resiliency Act passed by the Kentucky General Assembly in 2019.
This translates to an extra $24 per year if your house is assessed at $100,000.
