Hardin County Schools will host a hearing for a possible tax increase at 6 p.m. Wednesday at the district’s central office.
The proposed tax rate is 64.7 cents per $100 of assessed value on real estate and personal property, which is expected to generate about $40.6 million for the district, according to a notice in The News-Enterprise.
The proposed rate is an increase from last year’s rate, which was 63.1 cents on real property and 62.9 cents on personal property. Those taxes produced about $37.6 million for the school district.
The current proposed tax rates represent a 4-percent increase in revenue, but Hardin County Board of Education members may vote on a different proposal.
A person owning a home valued at $100,000 can expect to pay $647 in property taxes if the board votes to take a 4-percent increase in revenue. By state law, 4 percent is the maximum permissible annual revenue increase without being subject to a possible voter referendum.
Jessica Annis, director of finance for Hardin County Schools, said the tax money would be used for various expenditures, including competitive salary raises, day-to-day operations and instruction. A portion of the revenue generated also will go to building-related projects, such as bond payments and building maintenance.
The Hardin County Board of Education votes on the tax levy at 6 p.m. Thursday at the district’s central office.