Property owners in Trimble County will now pay an extra 2.2 cents per $100 of property value, as decided at a special Trimble County Board of Education meeting Thursday night.

The board approved its tax levy for the 2019-2020 year, which raises real estate and personal property taxes from 73.3 cents to 75.5 cents per $100 of assessed value, and continues the 55.4 cent tax on motor vehicles and the three percent utility tax rate from last year. Altogther, the district is projected to take in $640,998,185 in tax revenue, a roughly five percent increase from last year.

However, the district will have to dip into contingency funds this year because of a thorough assessment from the Trimble County Property Value Aministrator (PVA) that found structures throughout the county that had not been included on past property tax bills, said Rebecca Moore, a financial consultant from the county and a former school board member.

The additional buildings raised revenues by about $7 million, which actually decreases support from the state. Once the estimate goes over certain amount, the state contributes about $107,000 less in funding, she said.

The decrease in state funds, plus a $307,760 decrease in enrollment puts the district at about $37,000 below even.

Moore said the district is “fine financially,” because it has $1.6 million in contingency funds. But they’ll want to avoid using those funds as much as possible, especially now that the Kentucky legislature is working on a bill that would require districts to contribute an extra 2 percent for teacher benefits, board member William E. Robertson said.

Trimble and other counties without much industry on the tax base to even that out are “at the mercy of the state,” Robertson said.

Correction: September 12, 2019

A story on the Trimble County School tax levy in the Saturday, Sept. 7 edition of The Madison Courier incorrectly stated the tax increase passed by the Board of Education. The increase, which raises taxes by $22 per $100,000 of assessed property value, equates to 2.2 cents per $100, not $2.20 per $100 as stated. Another error described financial consultant Rebecca Moore as a former school board employee. Moore was a teacher, principal and central office employee, but was never on the school board.