Magoffin County Board of Education Approves to Lower Taxes

The Magoffin County Board of Education has approved a general fund tax levy of 57.9

cents on real property and 57.9 cents on personal property.

The General Fund tax levied in fiscal year 2026 was 58.9 cents on real property and

58.9 cents on personal property and produced revenue of $1,816,342.93. The approved

General Fund tax rate of 57.9 cents on real property and 57.9 cents on personal

property is expected to produce $2,021,326.58. Of this amount, $477,466.48 is from

new and personal property. The compensating tax for 2027 is 55.8 cents on real

property and 58 cents on personal property and is expected to produce $1,965,802.38.

The approved rate is expected to generate more revenue than received in the

preceding year. The general areas to which revenue of $204,983.65 above 2026

revenue is to be allocated are as follows: Cost of collections, $8,199.35; instruction,

$196,784.30.

This information is published pursuant to KRS 160.470. The proposed tax rate is not

subject to recall under KRS 132.017.

The General Assembly has required publication of this advertisement and information

contained herein.