The Covington Board of Education voted to lower its property tax rate by 17% last week, following a similar move by the City of Covington, citing increased property value assessments in the city.
Superintendent Alvin Garrison recommended a tax rate of 89.5 cents, which is a reduction of 18.6 cents from last year’s rate of 108.1 cents. The district also lowered its personal property tax rate from 108.3 cents to 100.2 cents.
“The tax rate has not been this low since 2003,’’ Garrison said.
If adopted, the new property rate would mean the owner of a home within the district valued at $100,000 would pay $895 in property taxes. The amount residents pay is determined by the assessed valuation of their homes.
The district does not cover the entire City of Covington, which is also served in various parts by the Kenton County School District.
According to Annette Burtschy, Covington’s former finance director from 2012 to 2020, the board did not increase property taxes during those years even though they had an opportunity to. However, during the 2021-2022 school year, the district voted to hike the property tax rate.
Burtschy cautioned that even though the board is proposing cutting the tax rate by 17 percent, not all residents will see a decrease.
Covington’s board of education says it plans to use revenue generated from the property tax to keep the salaries of Covington teachers and staff on par with other Northern Kentucky districts, update technology and facilities, and address the needs associated with the District’s growing population of English language learners.
“We believe we should offer the best for our students, teachers, staff and community,’’ Garrison said. “They definitely deserve it.’’
