By Pam Thomas
Guest columnist
There has been a lot of discussion lately about Woodford County Public Schools and the tax rate needed to keep our schools running well. Earlier this year, the school board made significant cuts to balance the budget, and did so through a transparent, open process I appreciated.
For FY 2026- 2027, the board is proposing to hold the real property tax rate steady at 63.3 cents per $100 of valuation – a 14-year low – generating enough revenue to maintain current operations, with a little extra to address identified unmet needs.
Here is the point I want every Woodford County property owner to understand: at this rate, most of us will not pay more in school taxes next year.
That’s because real property is reassessed by the property valuation administrator (PVA) on a four-year statutory cycle, unless improvements are made to it. Unless your property was reassessed or improved this cycle, its assessed value won’t change – and if the rate doesn’t change either, your tax bill to the schools won’t change. Some property owners will pay more, but that will be because their property is worth more, not because of the rate set by the school district.
That distinction matters because holding the rate steady still triggers something called a “recall vote.” Kentucky law allows a recall any time a proposed rate would generate more than 4% in additional local revenue over the prior year – and because overall property values in Woodford County have risen, the flat rate crosses that threshold on paper, even though most property owners would actually see no increase.
If a recall vote succeeds, the rate would be rolled back to one that generates just 4% in additional local revenue. But that wouldn’t translate to a 4% funding increase for our schools. The same rise in property values that triggers the recall also reduces the district’s state funding under Kentucky’s SEEK formula, which is designed to send less state money to districts with higher property wealth, like Woodford County. A recall would be a double loss for our schools: less local revenue and less state revenue at the same time.
That’s especially concerning given the broader funding picture. State support for SEEK – the formula that funds K-12 education across Kentucky — is roughly 25% lower today than it was in 2008, once inflation is accounted for. Local property tax revenue isn’t replacing a shrinking luxury; it’s replacing a shrinking foundation.
I support Dr. Jones and the board’s efforts to rein in spending while still delivering a first-class education for our kids. Given how far state funding has fallen behind, supporting our schools with local tax dollars is one of the best investments we can make in our community – and in ourselves.
Thomas lives in Midway and works at the Kentucky Center for Economic Policy, where she engages in research and writing about education policy in Kentucky.