160.470 Tax rate limits -- Hearing -- Levy exceeding four percent increase subject
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/ky/160-470A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
to recall vote or reconsideration -- Levy of minimum equivalent tax rate.
(a)Notwithstanding any statutory provisions to the contrary, no district board of
education shall levy a general tax rate which will produce more revenue,
exclusive of revenue from net assessment growth as defined in KRS 132.010,
than would be produced by application of the general tax rate that could have
been levied in the preceding year to the preceding year's assessment, except as
provided in subsections
(9)and
(10)of this section and KRS 157.440.
(b)If an election is held as provided for in KRS 132.017 and the question should
fail, such failure shall not reduce the "...general tax rate that could have been
levied in the preceding year...," referred to in subsection (1)(a) of this section,
for purposes of computing the general tax rate for succeeding years.
In the event of a merger of school districts, the limitations contained in this section
shall be based upon the combined revenue of the merging districts, as computed
under the provisions of this section.
(2)No district board of education shall levy a general tax rate within the limits imposed
in subsection
(1)of this section which respectively exceeds the compensating tax
rate defined in KRS 132.010, except as provided in subsections
(9)and
(10)of this
section, KRS 157.440, and KRS 157.621, until the district board of education has
complied with the provisions of subsection
(7)of this section.
(3)Upon receipt of property assessments from the Department of Revenue, the
commissioner of education shall certify the following to each district board of
education:
(a)The general tax rate that a district board of education could levy under the
provisions of subsection
(1)of this section, and the amount of revenue
expected to be produced;
(b)The compensating tax rate as defined in KRS 132.010 for a district's general
tax rate the amount of revenue expected to be produced;
(c)The general tax rate which will produce, respectively, no more revenue from
real property, exclusive of revenue from new property, than four percent (4%)
over the amount of revenue produced by the compensating tax rate defined in
KRS 132.010, and the amount of revenue expected to be produced.
(4)Upon completion of action on property assessment data, the Department of
Revenue shall submit certified property assessment data as required in KRS
133.125 to the chief state school officer.
(5)Within thirty
(30)days after the district board of education has received its
assessment data, the rates levied shall be forwarded to the Kentucky Board of
Education for its approval or disapproval. The failure of the district board of
education to furnish the rates within the time prescribed shall not invalidate any
levy made thereafter.
(a)Each district board of education shall, on or before January 31 of each
calendar year, formally and publicly examine detailed line item estimated
revenues and proposed expenditures for the subsequent fiscal year. On or
before May 30 of each calendar year, each district board of education shall
adopt a tentative working budget which shall include a minimum reserve of
two percent (2%) of the total budget.
(b)Each district board of education shall submit to the Kentucky Board of
Education no later than September 30, a close estimate or working budget
which shall conform to the administrative regulations prescribed by the
Kentucky Board of Education.
(a)Except as provided in subsections
(9)and
(10)of this section and KRS
157.440, a district board of education proposing to levy a general tax rate
within the limits of subsection
(1)of this section which exceed the
compensating tax rate defined in KRS 132.010 shall hold a public hearing to
hear comments from the public regarding the proposed tax rate. The hearing
shall be held in the principal office of the taxing district or, in the event the
taxing district has no office, or the office is not suitable for such a hearing, the
hearing shall be held in a suitable facility as near as possible to the geographic
center of the district.
(b)The district board of education shall advertise the hearing by causing the
following to be published at least twice for two
(2)consecutive weeks, in the
newspaper of largest circulation in the county, a display type advertisement of
not less than twelve
(12)column inches:
1. The general tax rate levied in the preceding year, and the revenue
produced by that rate;
2. The general tax rate for the current year, and the revenue expected to be
produced by that rate;
3. The compensating general tax rate, and the revenue expected from it;
4. The revenue expected from new property and personal property;
5. The general areas to which revenue in excess of the revenue produced in
the preceding year is to be allocated;
6. A time and place for the public hearing which shall be held not less than
seven
(7)days nor more than ten
(10)days after the day that the second
advertisement is published;
7. The purpose of the hearing; and
8. A statement to the effect that the General Assembly has required
publication of the advertisement and the information contained herein.
(c)In lieu of the two
(2)published notices, a single notice containing the required
information may be sent by first-class mail to each person owning real
property, addressed to the property owner at his residence or principal place
of business as shown on the current year property tax roll.
(d)The hearing shall be open to the public. All persons desiring to be heard shall
be given an opportunity to present oral testimony. The district board of
education may set reasonable time limits for testimony.
(a)That portion of a general tax rate, except as provided in subsections
(9)and
(10)of this section, KRS 157.440, and KRS 157.621, levied by an action of a
district board of education which will produce, respectively, revenue from real
property, exclusive of revenue from new property, more than four percent
(4%) over the amount of revenue produced by the compensating tax rate
defined in KRS 132.010, shall be subject to a recall vote or reconsideration by
the district board of education as provided for in KRS 132.017, and shall be
advertised as provided for in paragraph
(b)of this subsection.
(b)The district board of education shall, within seven
(7)days following adoption
of an ordinance, order, resolution, or motion to levy a general tax rate, except
as provided in subsections
(9)and
(10)of this section and KRS 157.440,
which will produce revenue from real property, exclusive of revenue from
new property as defined in KRS 132.010, more than four percent (4%) over
the amount of revenue produced by the compensating tax rate defined in KRS
132.010, cause the following to be published, in the newspaper of largest
circulation in the county, a display type advertisement of not less than twelve
(12)column inches:
1. The fact that the district board of education has adopted such a rate;
2. The fact that the part of the rate which will produce revenue from real
property, exclusive of new property as defined in KRS 132.010, in
excess of four percent (4%) over the amount of revenue produced by the
compensating tax rate defined in KRS 132.010 is subject to recall; and
3. The name, address, and telephone number of the county clerk of the
county or urban-county in which the school district is located, with a
notation to the effect that that official can provide the necessary
information about the petition required to initiate recall of the tax rate.
(a)Notwithstanding any statutory provisions to the contrary, effective for school
years beginning after June 30, 1990, the board of education of each school
district shall levy a minimum equivalent tax rate of thirty cents ($0.30) for
general school purposes. Equivalent tax rate is defined as the rate which
results when the income collected during the prior year from all taxes levied
by the district for school purposes is divided by the total assessed value of
property plus the assessment for motor vehicles certified by the Department of
Revenue. School districts collecting school taxes authorized by KRS 160.593
to 160.597, 160.601 to 160.633, or 160.635 to 160.648 for less than twelve
(12)months during a school year shall have included in income collected
under this section the pro rata tax collection for twelve
(12)months.
(b)Failure of a board to comply with paragraph
(a)of this subsection may
constitute a forfeiture of office by its members pursuant to KRS 415.050 and
415.060.
(10)A district board of education may levy a general tax rate that will produce revenue
from real property, exclusive of revenue from new property, that is four percent
(4%) over the amount of the revenue produced by the compensating tax rate as
defined in KRS 132.010.