The current property and motor vehicle tax is 44 cents per one hundred dollars of assessed value. Superintendent Tim McGinnis is recommending a 4 percent local revenue increase, which would raise the tax price to 44.7 cents per one hundred dollars of value.
Public education receives the highest amount of money generated form tax dollars. The state uses the local property tax and motor vehicle tax to determine the amount of money a school will receive each school year. Kentucky has adopted a new program to help fund school districts that are struggling. Supporting Excellence in Education in Kentucky or SEEK looks into community growth to determine the amount of money a school district is receiving. If a community is experiencing growth, some of their tax money remains in Frankfort to help those communities that are struggling Trigg County is currently having positive growth. Therefore, under SEEK 30 cents of Trigg County's 44 cent tax will remain in Frankfort. Five cents is required for the Building Fund. Another five cents is needed for the bond indebtedness for the next twenty years. Therefore, only 4 percent of the tax remain for general fund and instructional expense.
The increase of seven tenths of a cent would go into the school program for the needs of the district. It will help offset the cost of the recent high school renovation and help with other improvement within the facilities. The district would also like to be able to have more money to spend on all- day kindergarten, pre-school and maintaining an alternative school program.
The district would like to add guidance counselors, decrease the student/teacher ratio, expand music programs, and add Jr. ROTC in the high school. McGinnis asks people to consider the fact that insurance prices continue to rise as well as fuel prices for the buses.
An increase of taxes to 44.7 cents would raise the price of property tax on a $100,000 house by $7.
The school board will hold a public hearing to discuss these matters further. The hearing will be held on Aug. 26, 2004 at 6:30 p.m. At 7 p.m. the board will vote within their regular meeting. Invitations to the hearing and school board meeting are being sent to legislative candidates.