JCPS Lowers Real Property Tax Rate for 2024-25 Fiscal Year

Sept. 3, 2024—The Jefferson County Public Schools (JCPS) tax rate on real property will decrease for the 2024-25 fiscal year due to rising property assessments throughout the county.

The Jefferson County Board of Education (JCBE) met Tuesday and approved a rate of 73.5 cents per $100 assessed value on real property, down from 76 cents in 2023-24. Under the new rate, a homeowner would pay $735 in school tax on a $100,000 home assessment.

Although the rate is decreasing, the new rate combined with higher assessments will bring in an estimated $31 million in additional funds to support employee raises, curriculum, facilities, and the general operations of JCPS. This represents a 4 percent increase over last year in gross revenue—the largest increase allowed by state law without voter approval.

The 2024-25 personal property tax rate will also decrease to 73.5 cents, down from 76.8 cents in 2023-24. The motor vehicle tax rate will remain at 58.5 cents.

The estimated gross revenue generated by the 73.5 cents real property rate and the 73.5 cents personal property rate is $750,665,321. Of this amount, $54,911,745 will be allocated to the Building Fund for capital projects and debt payment on bond issues. The balance, $695,753,576, will be allocated to the General Fund to pay for educational services and operations.