DCPS, OPS set property tax rates for new fiscal year

August 28, 2020 | 12:08 am

Updated August 28, 2020 | 12:12 am

Daviess County Public Schools and Owensboro Public Schools each had board meetings Thursday where both of them set the new property tax rates for fiscal year 2021.

OPS lowered their rate while DCPS’ will remain the same.

DCPS to leave property tax rate unchanged for 2020 fiscal year 

The Daviess County Public Schools Board of Education voted Thursday to keep its property tax rate unchanged for the fiscal year. That vote will leave the 2020 fiscal year tax rate at 71.5 cents per $100 assessed value for real and personal property. 

Last year, that tax rate left DCPS with around $38.6 million in revenue. 

A proposal that would have added 0.2 cents for exonerations, escalating the amount to 71.7 cents, was not approved by board members. DCPS Director of Finance Sara Harley said exonerations occur when, for example, homeowners contest their home’s value to lower their property tax rate. 

The exoneration would have produced about $40.9 million for DCPS. 

The decision to leave the tax rate unchanged came after board members spoke out last Tuesday about the financial hardships already being placed upon members of the community. At Thursday’s meeting, all DCPS board members voted to keep the tax rate where it was.

Owensboro Public Schools lowers tax rate to lowest number in seven years

Owensboro Public Schools approved the new property tax rate Thursday, bringing it down to 84.9 cents, its lowest mark in seven years.

The Fiscal Year 2020 property tax rate was 86.6 cents per $100 assessed value for real and personal property. It produced a revenue of roughly $12.6 million.

The approved rate for this year is 84.9 cents and would produce an estimated revenue of roughly $13.4 million — with nearly $1.5 million coming from new and personal property.

“That’s great news,” Board Chair Jeremy Edge said of the rate. “That’s very exciting.”

August 28, 2020 | 12:08 am

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