Boone County school board approves 65.5-cent property tax rate to restore district funding

The Boone County Board of Education voted to levy property tax rates that will generate an estimated $142 million for the district, approving 65.5 cents per $100 of assessed value for real estate and tangible personal property and 49.7 cents per $100 for motor vehicles at its public meeting.

Board members and staff said the move restores local revenue needed after years of declining state support. Daryl Denham and business office staff told the board the 65.5-cent rate would produce about $142 million in revenue, while taking a lower, compensating rate would yield about $137.5 million — roughly $4.5 million less.

The vote followed a public hearing that drew dozens of speakers, including teachers, parents, students and district employees. Kelly Reid of the Boone County Education Association urged the board to approve the rate, saying, “I am speaking in favor of the tax increase,” and pointing to recent pay gains that the union says help recruit and retain staff. Several teachers and school leaders described programs and student needs they said depend on stable funding. "This is not a new tax or funding source. Taxpayers are already paying this tax," one long-time teacher said…