Oldham County Schools Superintendent Greg Schultz announced he will recommend no increase to the tax rate for the 2017-18 fiscal year. Schultz's recommendation is that the rate remain 77.7 cents per $100 of assessed property value, the same as last year.

Schultz said current property assessments will yield enough revenue for the district to meet its financial obligations, even though state SEEK funding will decrease this fiscal year. 

Even though there will be no increase in the tax rate, the board of education is required to hold a public hearing. That meeting will take place Thursday, August 31 at 6:00 p.m. at the Oldham County Schools Arts Center. The board will vote on Mr. Schultz’s recommendation at that meeting. 

Of the recommended 77.7 cent tax rate, only 55.3 cents are available for operational expenses through the general fund. A portion of the local tax revenue generated must be set aside for the building fund per state law. These funds are used to pay the debt service on existing buildings, as well as pay for renovations on existing buildings and construction of new facilities.