This story was written by Lia Salvatierra, our new Education Reporter. Find more of Lia’s reporting here. Do you have an NKY education story? Email lsalvatierra@linknky.com.
Taxpayers within Boone County School District may see lower property tax rates even as the district plans to generate more revenue than last year.
Boone County’s board of education voted to propose new rates at an Aug. 13 regular meeting.
Under new state rules, districts must propose and advertise rates for two weeks before the board can officially adopt them at a public hearing.
The proposed rates would bring in 4% more property tax revenue compared with last year, based on the state’s assessment of property values in the district.
A district’s property value assessment affects how much money it receives from the state.
Under the state’s school funding formula, higher property values reduce state funding and lower property values increase state funding. Other factors like attendance also play into the formula and determine the district’s final share of state funding.
According to a public notice from the district, increased revenue would support higher costs due to inflation, salaries, technology, student safety and an early childhood center for the district.
Boone County is proposing to lower the tax rate for real property, while keeping the personal property rate the same as last year.
Under the district’s proposal the real property rate would drop to 64.6 and the personal property rate would remain at 65.5.
That translates to $646 in tax revenue for every $100,000 in real property and $655 in tax revenue for every $100,000 in personal property.
The 2025-26 rates were 65.5 for both types of property.
Real property includes land and its associated structures and property rights.
Personal property includes items used for business or commerce including inventory, raw materials and office supplies.
Find more detailed information on how school property taxes work here.
Lia Salvatierra is a journalist with Report for America, a service program that helps boost coverage of underreported topics and areas throughout the United States. To help LINK nky continue to provide this kind of reporting, you can make a tax-deductible donation here.
