According to a proposal by the Newport Board of Education, property taxes should be reduced.

Newport Independent Schools administrators have proposed reducing the district’s property tax rates for 2024-25 — also called the equalization tax rate — from 9.64 cents per $1,000 of assessed property value to $7.68. Under Kentucky law, schools are only allowed to generate the same amount of property tax revenue as they did in the previous year, plus a four percent adjustment for inflation.

However, despite the decreasing rate, the county would receive approximately $1.1 million in additional revenue due to the higher property tax rates set by the Campbell County Property Value Administrator (PVA).

With these funds the district can:

· Funding for Phases II and III of the new Newport High School Stadium.
· Buy student desks and furniture.
· Installation of new flooring, doors and LED lighting at Newport Primary School.
· Replace privacy fences at the elementary school and the district headquarters.
· Replace windows and roof in the control center.
· Reduce debt.

“These initiatives are about taking a proactive stance and equipping students with all the tools they need to achieve successful outcomes,” said Tony Watts, superintendent of Newport Independent Schools.

“As the Newport Independent Schools Board of Education prepares to set the tax rate for the 2024-25 school year, it is important to provide the public with information that provides insight into the Board’s considerations in making its tax rate decision,” said Superintendent Watts.

However, due to the PVA’s revaluation of properties and a significant increase in property values ​​in the district, some property owners will pay higher taxes next year. Homeowners whose properties have not been revalued will pay lower taxes.

It is important to note that the PVA is an independent state agency and the district has no control or say in its operations, including determining the value of property in the school district.

“The role of PVA assessments is critical to understanding the full extent of the school district’s tax rate setting,” said Superintendent Watts. “Increased PVA assessments generally result in higher tax bills for property owners.”

Higher revenues are also needed because the PVA made errors in its estimates last year that cost the district about $400,000.

The Newport Board of Education is scheduled to vote on the proposed tax rate during its regular monthly meeting on August 28.