LOUISVILLE, Ky. (WAVE) - JCPS unanimously approved a new proposal to lower the property tax rates for the 2025 to 2026 fiscal year.

The school board says that although the rate is decreasing, the change alongside the higher assessments for some properties than previously will bring in 36.5 million more dollars a year that will go toward supporting staff costs, curriculum, facilities and the general operations of JCPS.

The motion will lower the tax rate to 71.7 cents per $100 of assessed value, which adds up to about $1,800 a year for a home valued at $250,000.

The new tax standard will keep the rates for personal property, motor vehicle and occupational taxes the same.

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