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McCreary County Board weighs higher 2025–26 tax rate as federal payments, rising costs shrink budget
Summary
At its Aug. 26 meeting the McCreary County Board of Education discussed three tax-rate options amid a loss of federal in-lieu payments and rising insurance and utility costs; a motion was made to adopt the highest rate option but no recorded vote appears in the transcript.
At a regular meeting Aug. 26, the McCreary County Board of Education discussed three options for the 2025–26 property tax rate and heard staff describe a sharp drop in federal in-lieu payments that contributed to an operating shortfall.
District staff presented three rate options: the current rate (reported as 0.00350, projected to generate about $1.9 million), option 2 (0.00355, projected about $1.93 million) and option 3 (0.00358, slightly higher projected revenue). The presentation said the district’s Secure Rural Schools (in-lieu) payments this year are $14,451, down from prior years when the…
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