The Covington Independent Schools Board of Education approved by a 3-2 vote to add a nickel tax for property owners at its meeting last week.
The new rate will be 92.50 (or an additional $34.09 annually) for a home valued at $113,610 and 92.50 (an additional $121.71 annually) for a commercial property valued at $405,703.
The funds would be used to help provide central air conditioning for all school buildings in the district.
At the meeting, prior to the vote, CBC Executive Director Pat Frew read a position statement approved by the CBC Board of Directors at its August 21 meeting:
The Covington Business Council acts an advocate for our member companies and stakeholders and take positions on issues that affect these entities. The CBC strongly supports our local schools and wants them to be thriving institutions that create opportunities to excel for all students. Before considering future tax increases, the CBC respectfully requests administrators
(1) consider the negative impact increased taxes have on the viability of Covington businesses in the short run and
(2) draft and share a well-crafted aspirational plan showing how additional funding will be obtained, used to make infrastructure investments over a multi-year period, and how these investments would improve student outcomes and make Covington schools more competitive and attractive from an economic-development perspective.
The CBC encourages affected Covington property owners to direct their opinions to Covington School Board President Tom Haggard, tom.haggard@covingtonkyschools.us.
The next regularly scheduled School Board meeting is Thursday, September 14 at 5:30 p.m. at the BOE offices, 25 E. 7th Street, Covington, KY 41011.
The CBC also applauding the Kenton County Fiscal Court for voting to reduce the ’23 real property tax rate by 7.6 percent to its lowest level since 2002.
