The Fayette County Public Schools board gave the green light to new, higher tax rates for the next school year Monday.
By a vote of 4-1, the board voted to bump the real estate and personal property rate from 69.6 cents per $100 of assessed value to 71.9 cents. FCPS Superintendent Tom Shelton says the increase was an assumption already factored in to the budget for the next fiscal year.
"They were fully aware since May that we would be asking for the allowable four percent increase, which effectively is a 23. cent tax increase," he says.
The rate increase would amount to an extra $23 a year for the owner of a home worth $100,000.
The district is currently facing a $20M budget shortfall.
