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Oldham County Board keeps tax rate flat, approves staff incentive bonuses
Summary
Board voted to hold the property tax rate at 81.2 mills and approved one‑time retention payments for staff: $3,000 for full‑time employees and $1,500 for part‑time employees, funded from carryover balances.
The Oldham County Board of Education voted Aug. 25 to keep its property tax rate flat and to approve a one‑time staff incentive, using carryover funds.
The board voted 5‑0 to maintain the property tax rate at 81.2 mills and to keep the motor‑vehicle rate at 64.3 mills and utility rate at 3 percent. “We are staying under the 4% rate that was given to us,” the superintendent said during discussion; staff earlier explained the state’s calculation options and the choice not to recoup prior‑year exonerations.
On a separate motion, the board approved a districtwide, one‑time incentive intended to aid retention: $3,000 for full‑time employees and $1,500 for part‑time employees. The motion passed 5‑0. Board members said the payments are funded from the district’s healthy carryforward balance.
Treasurer Suzanne Alexander presented July financials showing opening‑year receipts of about $9.6 million and disbursements of roughly $17 million for the month, yielding an ending governmental fund balance the packet listed as $88,700,000 (combined funds reported at roughly $98,100,000). Alexander noted that most general‑fund tax receipts arrive between November and February and that the district received the first capital outlay payment for the year.
A separate capital project motion — approval of a revised BG‑1 and award of contract for South Oldham High School phase‑3 renovation and addition — passed by a 4‑1 vote.
Board members discussed the state‑provided 4 percent threshold and an option to recover prior‑year exonerations; staff said the district had an opportunity to recover about $2.9 million in prior‑year revenues but chose not to pursue it in order to remain under the 4 percent threshold. The treasurer and staff also noted that higher assessed values mean flat rates can still yield increased revenue compared with prior years.
The board said it will present a working budget in September and continue to monitor revenues, construction funds and carryforward balances.
