District Sets 2019 Tax Rate
The Bourbon School Board set the 2019 tax rate at $3.991 per $100 of assessed valuation, with $3.05 going towards the incidental fund and 93.5 cents towards the debt service levy.
Last year’s levy was set at $3.9629, giving the district an increase of three cents.
The debt service levy has been held at 93.5 cents for several years as part of a voluntary rollback promised to voters in previous bond issue campaigns.
Debt repayment for bonds allows the district to continuously hold the 93.5 cent rate.
Bourbon’s tax rate has typically been around $3.9. The tax rate for the 2016-2017 school year was the last one where the rate went above $4.
It rolled back to $3.9827 for the 2017-2018 year.
Superintendent Dr. Kyle Gibbs said existing property values were down some.
“They were assessed a little lower than in previous years,” Gibbs said. “There is no change for the average taxpayer because the levy is going up a little bit. It’s commensurate unless you made improvements in your property.”
There was new construction throughout the three counties the district makes up. Gibbs reported $2.5 million overall and depending on what type, could mean anywhere from $8.1 million to $13.6 million in market value.
“That’s positive growth that will help the local economy,” said Gibbs, who estimates it will provide more than $80,000 in revenue for the district.