The Daviess County Public Schools board approved slightly reducing the district’s property tax rate while leaving the personal property tax rate unchanged for the upcoming fiscal year. Despite the adjustment, officials estimate the increase in property assessments will still generate about $3.2 million in additional revenue.
Board members reviewed the proposed rates during a luncheon on Tuesday and voted on them at Thursday’s regular meeting.
According to Finance Director Sara Harley, the real property rate will decrease from 71.0 cents to 69.8 cents per $100 of assessed value, while the personal property rate will remain at 71.5 cents. Both rates had been unchanged since the 2021-22 fiscal year.
Total property assessments for 2025-26 are $8.49 billion, a 7.02% increase from $7.93 billion in 2024-25, Harley said. The approved rates are projected to generate an additional $2.4 million for the general fund and $834,904 for the building fund.
“This increase in revenue will help offset additional budgetary expenses and the 3% raise the board approved for all staff for 2025-2026,” Harley said.
