Property tax rates approved by school board

Jonathan Wright - [email protected]
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VANCEBURG — The Lewis County Board of Education met Monday evening to discuss several items pertaining to the beginning of the new school year. Among those items was approving the motor vehicle and watercraft property tax rates.

According to Superintendent Jamie Weddington, the vehicle and watercraft property tax will receive no changes, and will remain at the same rate as it was a year prior.

“It’s the same rate that we’ve had for as long as I think Joe (Kennedy) has it tracked,” Weddington said.

The rate of the tax approved by the board is 49 cents per $100 of the value of the property.

Property tax rates for real estate and personal property was also approved. Weddington said he and Financial Officer Kennedy had reviewed reports with the Kentucky Department of Education to follow their recommendation of the rate.

“In order for us to maximize our tier one state funding, we would need to approve the rate that is on report two and it’s called the ‘House Bill 940 rate.’” Weddington said.

Approved by the board was the real estate and personal property tax rate of 49.2 cents per $100 in addition to a 0.2 percent for exonerations, based on losses on prior years, according to Weddington.

“The Kentucky Department of Education projects the adopted HB940 rate will generate approximately $1,937,985 in total local revenue from real estate and the same rate will generate $575,789 from personal property,” Weddington said.

The board also approved several contracts with companies that will provide groceries to the school district for the new school year. Among the bids made to provide milk to the schools, Modern Foods was selected for the contract, Bimbo Bakeries was the only bidder to provide the district bread and Gordon Food Services was also selected to provide other groceries and supplies.

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Jonathan Wright

[email protected]