NICKEL TAX INFORMATION ....We now have a website to help inform the public with factual information as it pertains to school facilities and the nickel tax vote.
In the past week I have continued to hear of questions regarding the Nickel tax and urgent needs funding. It is my goal to answer those questions in this week’s article. The questions asked are:
Last week there was an article entitled Rand: ‘Urgent Needs’ $$$ ‘not guaranteed’ appearing in the Trimble Banner. I believe this was a well written article and allowed the community to hear about Urgent Needs Funding from a member of the State Legislature, which is a very important perspective. It is my hope that as readers saw this article they actually read the whole article, for it reinforces those very points that have been expressed by
In last week’s edition of the Trimble Banner there was an article regarding the 10 cent tax that was passed back in 1979. I have some additional information on that to share this week and then I hope that discussion can be put rest. The old special voted building fund tax (14.3) is in the 1990 tax rate. That matches information about the tax raised to build the middle school in 1980(the 10 cents tax of 1979).
The current system that we are under for facilities funding began in 1990 with the Kentucky Educational Reform Act (KERA). Prior to 1990 school districts could not issue bonds, that had to be done through the city or the county. It was not until 1986-1987 that school districts could issue bonds. Back then Finance Corporations did not exist.