In the juxtaposition of wide-open, bustling open houses across the campus, Trigg County’s Board of Education opened up a lengthy discussion Thursday night on property taxes, the cumbersome SEEK formula and the shade of difficult choices ahead.
At the forefront: a stunning July 31 revelation, in which district officials were notified by Trigg County PVA officials that this year’s quadrant property assessment came in 13% higher — at least 8% more than expected and budgeted.
Holly Greene, the district’s chief finance officer, called this news “extremely challenging” — and for many reasons.
Properties in Trigg County have their value reassessed in a rotation of four different zones, one per year, and this year’s happened to involve — among other budding assets — the massive growth observed on U.S. 68 near the Jolly Way developments.
Naturally, these properties have outpaced projections, and because of SEEK’s requirement of “30 cent effort” creates a levy of 30 cents on $100 of assessed value, Greene — in as layman’s terms as possible — said state funding will be lower than anticipated.
Greene recommended that the district apply for SEEK relief — if any remains — through four qualifying benchmarks:
1) Have 4% adjusted SEEK final growth in fiscal year 2024.
2) Have 4% adjusted SEEK final growth in fiscal year 2025.
3) Report an excess of 14.4% growth in real property value from fiscal year 2023 through 2025.
And 4) embrace a 4% levy tax rate in fiscal year 2025, which districts must decide by summer 2024.
Greene said that when the district pays on the “30 Cent Effort,” it’s on 100% of the assessment — not the actual amount collected. Last year, only 95% of these taxes were collected in Trigg County, which is higher than usual. And, based on the actual collections, the district pays the Trigg County Sheriff’s Office a 4% flat rate to do the collecting.
Oddly enough, Greene and board members noted a 4% levy — which was accepted — will actually be lower than current rates on real property for Trigg Countians who have yet to be reassessed. In fact, it’s the lowest tax rate for said properties since 2014.
Board attorney Jack Lackey noted that the SEEK formula can be difficult for city and county officials to fathom, because those municipalities can take 4%, or a compensating rate, and never have to deal with state deductions.
In other school board news:
— Greene also noted that two special needs busses ordered this past January will not arrive until February 2025, due to manufacturing delays, while only one of five electric busses provided through EPA grants is currently on campus.
— Speaking of electric busses, Director of Curriculum Lacey Schrock confirmed that a recent safety training with the new wheels involved more than 100 local first responders and district maintenance personnel, and reportedly served as “one of the most successful trainings” in Kentucky.
— Substitute teacher pay has been amended to $135 per day for retired teachers, $105 per day for a previous or current teaching certificate and/or a 10-year substitute certificate, $95 a day for those with a bachelor’s degree and/or a 5-to-9-year substitute certificate, and $85 a day for high school diplomas or an equivalency and/or a 1-year emergency substitute certificate.
Furthermore, whenever an assignment of a sub exceeds 20 days, the sub is entitled to pay on the regular teacher’s salary schedule. The service must be continuous, within the same position, and the sub must have the certificate for the assignment.
Subs may also advance to higher pay ranks during a school year, upon receipt of appropriate transcripts and/or certificates.
— Travel meal reimbursement rates were also increased to meet state laws retroactive to July 1, up to $12 for breakfast, $15 for lunch and $23 for dinner.
