taxes

Politics
6:56 am
Tue February 11, 2014

Gov. Steve Beshear's Tax Plan Fails to Address Inequality, Economic Think Tank Says

Steve Beshear
Credit Rae Hodge/Kentucky Public Radio

Kentucky Gov. Steve Beshear’s tax reform plan fails to address issues of fairness in the state’s tax code, says a non-partisan economic think tank.

The Institute on Taxation and Economic Policy doesn’t think the plan’s Earned Income Tax Credit will be enough to offset the new sales taxes for the less wealthy.

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Local News
8:03 am
Sat February 1, 2014

In Push to Increase Earned Income Tax Credit Use, Free Tax Service Offered to Some Louisvillians

Credit Shutterstock.com

Free tax services will again be offered to qualified Louisvillians in an effort to boost the number of residents who qualify for the Earned Income Tax Credit.

This year, 27 sites will offer free tax preparation to some Louisvillians, organized by the Louisville Asset Building Coalition and other groups.

Mayor Greg Fischer says the money can help families and the local economy.

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Education
1:18 pm
Thu September 12, 2013

Kentucky—and Most States—are Spending Less Per Student Than Before the Recession, Report Says

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Kentucky lags behind its peers for funding its public education system since the recession, a new report from the Washington-based Center on Budget and Policy Priorities shows.

The report released Thursday shows 34 states provide less per-student funding than they did in 2008. Of those, 15 states are giving less than they did a year ago.

Kentucky is among both these groups.

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Education
11:08 am
Fri August 30, 2013

JCPS School Board Member David Jones Jr. Talks Tax Increases, Says More Restructuring Needed

Jefferson County Board of Education member David Jones Jr. says although the board’s recently approved tax increase will bring in new revenue, real savings and supports will come from making the district more efficient.

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Education
12:20 pm
Thu August 29, 2013

Oldham School Board Votes On Maximum Tax Hike Tonight

Credit File photo

The Oldham County School Board will vote Wednesday night on whether to approve its largest tax increase of the past 10 years. 

Superintendent Will Wells says the district has already made $3 million in cuts and part of balancing the district's budget will also require raising taxes, which he says will allow Oldham Schools to maintain the academic programs that are working.

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Politics
10:23 am
Mon November 26, 2012

State Spending $3 Million on Tax Amnesty Initiative

The state government of Kentucky is spending $3 million on a tax amnesty program that officials hope will bring $55 million in revenue.

In 2002, Kentucky launched an amnesty initiative that garnered $40 million. Governor Steve Beshear announced this effort in October to help balance the two-year budget that will allow citizens and businesses to make restitution.

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Education
8:36 am
Tue August 28, 2012

JCPS Approves Tax Increase

The Jefferson County School Board has approved a 3.4 property tax increase.

The increase was proposed in light of dwindling state and federal funding. It will generate about $17 million for the district, and cost homeowners about $23 for every $100,000 their houses are worth.

The revenue will be used to support the district's dozens of new assistant principals and updates to the JCPS transportation plan.

Politics
12:37 pm
Mon August 13, 2012

Fischer Discusses City Tax Options in Lane Report Interview

In an interview with the Lexington-based Lane Report, Louisville Mayor Greg Fischer said the city needs to diversify its tax base to help combat budget shortfalls.

About 80 percent of Metro Government's revenue comes from occupational and property taxes, which have stalled due to the economy. The mayor had to fill a $20 million deficit in his last fiscal plan while the tax base has grown at a slower rate and a structural imbalance gets wider.

Lately Fischer has been pushing a local option sales tax, adding cities need more options to raise revenue. In the one-on-one interview, he cited a recommendation from Governor Steve Beshear's Blue Ribbon Tax Commission is that cities share in the state’s sales taxes as well.

From The Lane Report:

EL: Would you raise the sales tax, ask for a share of the current state sales tax, or would you have a local-option sales tax on top of the current sales tax?

GF: Whether it’s a private business or the business of government, a more diversified revenue stream has better odds of staying level or growing. Kentucky cities do not have a sales tax component to their revenue stream. The second possibility is the local-option sales tax: where the citizens of a city can vote on a specific project, for a specific time period, paid for in a specific way. Most all of our competitive cities have that option as well; Kentucky cities do not. So when you see capital investments being made by other cities in their arts district, recreation center or forensic crime lab, frequently they are funded by a local-option sales tax.

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