During a special-called meeting of the Knox County Board of Education Monday evening, the tax rate for real estate, personal property, aircraft and watercrafts were set for the 2020-2021 year.
Finance Officer Gertrude Smith presented the Board with the real estate and personal property tax calculations from the Kentucky Department of Education. According to Knox County property valuation data, there is a net increase of $20,168,517 in real estate in Knox County and an increase of $2,208,718 in tangible property for which will be subject to taxation. Last year’s school tax rate was 54.8. The increase in the property values in Knox would allow the district to set a compensating rate of 53.5 for real estate and 53.9 for personal property, both less than last year’s 54.8, yet would generate the same amount of tax revenue for the school district. The Board discussed the rate remaining unchanged at 54.8 or accepting the lower rate of 53.5 and 53.9. Superintendent Sprinkles shared with the Board that based on the impact that COVID-19 has had on the community, he would recommend that the Board take the compensating rate. After discussion, the lower compensating rates of 53.5 for real estate and 53.9 for personal property was approved.
In other action, Superintendent Sprinkles shared with the Board that there was a need to seek additional interested bidders for clothing and shoes to serve the Lynn Camp area. The bids that were previously submitted and accepted were geographically convenient to schools around Barbourville and east. The Board voted to readvertise for clothing and shoes.
Additionally, the Board voted to extend the deadline for submitting bids for PPE and nursing supplies. Superintendent Sprinkles shared with the Board that as more schools open, there will be greater demand for supplies. The Board voted to extend the deadline for submitting bids.
Official minutes of the August 24 meeting will be available after approval at the September 28 meeting.