Nelson County Board lowers real-property rate to 67¢; approves revised BG-1s and facility projects, hears bonding-capacity briefing

The Nelson County Board of Education on Aug. 19 voted 4–1 to reduce the real-property tax rate for fiscal year 2026 from 67.3 cents to 67 cents per $100 of assessed value and to keep the motor-vehicle rate at 54.8 cents. District staff presented the recommended change as an early step in the budget process; the reduced rate was recommended even as assessed property values rose, which staff said would still boost local revenue because of higher assessments. District staff showed local-tax revenue in illustrative figures moving from about $26.4 million to roughly $27.1 million under the lower rate, and noted that each one-tenth-of-a-cent (a penny equals about $440,000) materially affects annual revenue. Mr. Martin (district staff) framed the decision in the context of longer-term revenue pressures tied to changes in state funding formulas. He explained that a state formula item commonly described as the “30¢ local effort” reduces state aid when local assessments increase: “We’ve continued to lose state revenue in large part because of the 30¢ local effort,”…