Schools consider property tax increase

The Pike County board of education has tentatively adopted a millage rate which will require an increase in property taxes by 5.9% percent over the rollback rate. The tentative budget increase will result in a millage rate of 16.933 mills, an increase of .95 mills. Without this tentative tax increase, the millage rate for the school will be no more than 15.983 mills. The proposed tax increase for a home with a fair market value of $150,000 is approximately $57 and the proposed tax increase for non-homestead property with a fair market value of $100,000 is approximately $38.According to the tax digest and tax levy history on page 6A, last year’s total school taxes levied was $8.25 million and the proposed budget would levy $9.35 million in taxes. The net tax increase would be $1,095,875 or a 13.27% increase. Last year’s budget increase was only 1.15% and the year before that, it was only 2.16%. In 2016 the net tax increase was 4.41% and in 2015, there was a tax decrease of 1.06%. The board of education will host three public millage hearings prior to the adoption of the Fiscal Year 2021 budget. The hearings are open to the public and will be held in the board room at the Pike Schools Memorial Annex on Monday, Oct. 19 at noon, on Monday, Oct. 19 at 6 p.m. and on Monday, Oct. 26 at noon in the Ninth Grade Academy Collaboration Room. Adoption of the proposed school budget will take place immediately following the Oct. 26 meeting which starts at noon.