LOUISVILLE, Ky. — The Jefferson County Public Schools (JCPS) tax rate on real property will lower for the 2023-24 fiscal year.
The Jefferson County Board of Education voted to lower its property tax rate Tuesday night, but the district will still make more money.
According to a news release, the board approved a rate of 76 cents per $100 in assessed value on real property. Under the new rate, a homeowner would pay $760 in school tax on a $100,000 home assessment.
This is down from last year's rate of 76.3 cents.
JCPS expects this to generate more than $711 million in revenue, up 4% from last year.
Officials said roughly $50.5 million of that money will be put toward the district’s building fund for capital projects and debt payment on bond issues. The remaining balance, $660.5 million, will be put toward the district’s General Fund to pay for educational services and operations.
The district said changes were made because property assessments went up.
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