The Knox County Board of Education met Monday evening for the purpose of reviewing and setting property tax rates for the upcoming year. The special called meeting was to allow for tax bills to be prepared and mailed prior to October 1, which would have caused delay if the Board had waited until their regular monthly meeting, set for September 27.
The Board approved the compensating tax rate, which is the rate that will generate the same revenue that was received in the prior year. Due to new properties being built and the reassessment of others in the past year, Knox County’s overall property value increased. Therefore the compensating rate, set at 52.4 for real estate, has been the lowest rate in the past three years, if not longer. For a dwelling and property valued at $100,000 owners will see an $11.00 decrease in school tax. This rate is set to generate $4,278,281 for the school district.
The personal property rate was set at 52.8 which is part of the compensating rate. The motor vehicle tax rate continues at 50.2 as set by the state with no changes occurring.
Also during the special called meeting the Board heard the first reading of changes to the public comment at open meetings policy. Prior to stakeholders bringing their concerns before the Board, they must first meet with the superintendent to see if the issue can be resolved internally and faster than waiting to attend a meeting to express the concern. Those concerns that the superintendent is unable to address will continue to the Board for hearing and their research prior to action.
The next meeting of the Knox County Board of Education is set for Monday, September 27, 6:30 pm, at the Board of Education Annex.
A copy of the September 20 agenda follows the video replay below and is available for download as a PDF document.