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Notice of Hearing

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NOTICE OF HEARING
 
The Boone County Board of Education will hold a public hearing at the Ralph Rush
Staff Development Center, on August 29, at 7:00 P.M. to hear public comments
regarding proposed 2019 property tax levies of 66.4 cents per $100 valuation for real
and personal property.
 
The 2018 property tax rates levied were 64.6 cents per $100 valuation for real
property and 65.3 for tangible property expected to produce $84.3 million and
produced $84.5 million for the 2018-19 fiscal year. A portion of current tax
collections were related to prior years’ assessment. The proposed total property tax
rate levies of 66.4 cents per $100 valuation for real and tangible property is expected
to produce $90.1 million for 2019-20 fiscal year. Of this amount, $16.2 million is
from new and tangible property. The compensating rate for 2019 is 63.9 cents on
real property and 65.8 cents on tangible property and is expected to produce $87.2
million.
 
The general areas to which revenue of $5.6 million above the 2018-19 revenue to be
allocated are: $112,000 for the cost of tax collections; $1,051,192 is restricted for the
building fund; replacement of SEEK funding reductions estimated at $2.1 million;
and $2.3 million for instructional program needs including social emotional learning
support, increased student access to technology, enhancements to school safety as
well as personnel necessary to support these initiatives.
 
Notice of Hearing document




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