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School Board to set tax rates tonight

The McCreary County Board of Education is expected to vote on the 2016-17 property tax rates during their regular September meeting tonight in the Central Office.

It is likely the Board will vote on a suggestion to accept the 4-percent rate, set by the State, which would raise taxes on real and personal property to 43 cents per $100.

The increase is 1.1 cents over the tax rate set last year by the Board.

The Board will have three tax options to consider: the compensating rate, which would generate about the same revenue as the year before, the 4-percent rate, which would generate about 4-percent more than the previous year, or a “nickel” tax, which would significantly increase revenue – but would be subject to a public vote.

A special meeting was held earlier this month to hear comments from the public concerning the potential 4-percent increase from the Board, but only one citizen spoke during the required comment period.

The McCreary County Fiscal Court will also hold a special session Friday morning to set the County tax rates.

Tax rates were not set during the regular meeting earlier this month due to the fact that the School Board had yet to set their rates, and other special taxing districts were not heard from, as required by law.

Judge Executive Doug Stephens noted during the September meeting that the auditors advised the Fiscal Court to wait to set their rates, and accept all rates from the special districts only when they were all reported.

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