By James Brown
Glasgow News 1
The Glasgow Independent Schools Board of Education approved a slightly lower real property tax rate for the 2026-27 fiscal year, while expecting to bring in more money for the district’s general fund.
During a special-called meeting Thursday night, the board voted to adopt the compensating rate, which is designed to generate approximately the same amount of revenue as the previous year.
The new real property tax rate will be 78.5 cents per 100 dollars of assessed value for property owners within the Glasgow Independent Schools district.
That is down from 79.1 cents per 100 dollars last year and represents a decrease in the effective tax rate for local property owners.
The tax rate on personal property will remain at 80.9 cents.
Even with the lower real property rate, the district expects to collect about 7.81 million dollars in general fund property tax revenue, compared with about 7.36 million collected in fiscal year 2026.
District officials say the change aligns with the compensating rate formula, which is intended to keep revenues roughly flat even as property assessments change from year to year.
Under state rules enacted this year, Glasgow Independent Schools had to advertise the proposed tax rate for two weeks before the board could take a final vote.
The board initially supported the compensating rate at its regular August meeting, then called the Thursday special meeting to meet the new legal requirements.
Officials also were required to approve a tax rate within 45 days of receiving their tax rate options from the state.
The district received its options on July 23, which prompted the timing of the special-called session.
In addition to setting the tax rate, the board approved its working budget for the 2026-27 school year.
Superintendent Chad Muhlenkamp and his staff put together a slide show that was projected onto television screens around the room that detailed the revenue streams and expenditures for the district.
The superintendent said the idea of detailing the working budget and setting up the slide show for all in attendance of the meeting to see came after a conversation with board member Garnett Bale.
Will Hodges with Kentucky Education Fund spoke to the board about establishing a Memorandum of Understanding to develop a new fundraising avenue for the district.
The Kentucky Education Fund is “a statewide, nonpartisan option for administering qualifying contributions and scholarships under the new program,” the organization stated in a recent press release. The nonprofit organization has been established to oversee educational scholarships for Kentucky public and private school students under a future federal tax credit program.
The state legislature passed House Bill 1 and some lawmakers said it would allow K-12 students and their families to benefit from a federal tax credit.
The board approved the memorandum.
The agenda included approval of several student trips for Glasgow High School and Glasgow Middle School clubs and teams, including softball and baseball tournaments in Florida, Future Farmers of America and Family, Career and Community Leaders of America events, Beta Club activities and leadership trips across Kentucky and out of state.
The board also approved a facility use agreement with Maple and Pine Lanes for use of the bowling lanes by the high school’s bowling team, and agreement and requests to submit Delta Kappa Gamma grant applications for South Green Elementary and Glasgow Middle School.
Board members accepted a long list of donations benefiting Glasgow High School, Highland Elementary, Glasgow Middle School and multiple athletic programs.
Those contributions included funds for boys golf, football, cheer and other school activities, with individual donations ranging from $500 to $5,000.
Glasgow Independent Schools board member Dr. William Thornbury speaks during the Thursday, Sept. 10, board of education meeting as fellow board member Garnett Bale looks on. James Brown/Glasgow News 1
Key Facts
– Glasgow Independent Schools Board of Education adopted the compensating real property tax rate for 2026-27.
– The new rate is 78.5 cents per 100 dollars of assessed value, down from 79.1 cents.
– Officials expect general fund property tax revenue to rise to about 7.81 million dollars, up from 7.36 million.
– The move follows Kentucky’s compensating rate formula and new legal requirements on notice and timing.
– The board also approved the 2026-27 working budget and a partnership with Kentucky Education Fund.
– Members authorized multiple student trips, facility use agreements, grant applications and donations for schools and sports.
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