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 Fort Thomas Independent Schools may see a reduction in their property tax rates, though the district plans to generate more local revenue.Â
Fort Thomas’ board of education voted to propose lower rates at this week’s regular meeting.Â
But the proposed lower rates would bring in 4% more property tax revenue than last year, based on the state’s assessment of property values in the district.
A district’s property value assessment also 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. ther factors like attendance also play into the formula and determine a district’s final share of state funding.
Under a new state law, school boards must propose rates and then publicly post them for two weeks before the board can officially adopt them at a public hearing.
The board is opting to lower both types of property taxes: for real estate and for personal property.
Proposed rates are 90.2 on real estate and 102.7 on personal property.
That translates to $902 in tax revenue for every $100,000 in real property and $1,027 in tax revenue for every $100,000 in personal property.
The 2025-26 rates were 104.4 on real estate and 104.4 on personal 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.
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