The Knox County Board of Education will hold a public hearing in the Knox County Board of Education Annex on Thursday September 14, 2017 at 6:00 p.m. to hear public comments regarding a proposed general fund tax levy of 53.2 cents cents on real property and 53.2 cents on personal property.
The General Fund tax levied in fiscal year 2017 was 50.9 cents on real property and 50.9 cents on personal property and produced revenue of $4,389,451.19. The proposed General Fund tax rate of 53.2 cents on real property and 53.2 cents on personal property is expected to produce $4,826,523.79. Of this amount, $723,155.66 is from new and personal property. The compensating tax rate for 2018 is 51.2 cents on real property and 51.2 cents on personal property and is expected to produce $4,645,075.53.
The general areas to which expected revenue of $437,072.60 above 2017 revenue is to be allocated are as follows: Cost of collections, $17,482.90 and $419,589.70 instruction.