1. AUGUST 14, 2015 TAX INFORMATION

2. FY 10 Tax RateAssessmentRevenue Real Estate 45.9 $ 713,739,605.00 $ 3,276,064.79 Personal Property 45.9 $ 70,941,523.00 $ 325,621.59 Totals 45.9 $ 784,681,128.00 $ 3,601,686.38 Actual Collections: $3,463,223.70 Difference: Collection Rate: 96.16%

3. FY 11 Actual Collections: $3,473,177.22 Difference: Collection Rate: 94.59% $9,953.52 more collected than in FY 10 Tax RateAssessmentRevenue Real Estate 45.9 $ 730,103,841.00 $ 3,351,176.63 Personal Property 45.9 $ 69,869,365.00 $ 320,700.39 Totals 45.9 $ 799,973,206.00 $ 3,671,877.02

4. FY 12 Actual Collections: $3,684,517.94 Difference: Collection Rate: 95.14% $211,340.72 more collected than in FY 11 4% Tax RateAssessmentRevenue Real Estate47.4 $ 747,242,122.00 $ 3,541,927.66 Personal Property47.4 $ 69,820,876.00 $ 330,950.95 Totals $ 817,062,998.00 $ 3,872,878.61

5. FY 13 Actual Collections: $3,941,521.10 Difference: Collection Rate: 95.98% $257,003.16 more collected than in FY 12

6. FY 14 Actual Collections: $3,973,371.98 Difference: Collection Rate: 95.2% $31,850.88 more collected than in FY 13

7. FY 15 FY 15 (4%) Tax RateAssessmentRevenue Real Estate 50.6 $ 782,625,533.00 $ 3,960,085.20 Personal Property 50.6 $ 78,289,923.00 $ 396,147.01 Totals $ 860,915,456.00 $ 4,356,232.21 Actual Collections: $4,153,979.66 $3,973,371.98 Difference: Collection Rate: 95.3572% $180,607.68 more collected than in FY 14

8. SEEK Local 30 cent effort required to participate, deducted off of the “Guaranteed Base” Local 5 cents effort to FSPK (5.9 cents was required to produce the 5 cents for FY 11; 6 cents for FY 12 and FY 13; 5.9 cents for FY14; 6 cents for FY 15; 59 will be required for FY 16) Total Local Effort Required was 36 cents Currently, our tax rate is 50.6 cents per 100 of assessed property value. Remaining is funds generated locally above the REQUIRED EFFORT to support Trigg County Public Schools, which is currently 14.6 cents per $100 of assessed property ($1,256,936.57) Interestingly, the 30 cent effort doesn’t change even though collections may not equal 100% (FY14 = 95.36% ). Therefore, the $202,252.55 not collected in FY15 comes out of the $1,256,936.57 (in other words the state doesn’t make up the difference).

9. SEEK – GUARANTEED BASE FY10 - $3866 * ADA of 1868.702 = $7,224,402 FY11 - $3868 * ADA of 1846.96 at the end of FY10 = $7,144,041 [$80,361 Less than FY10 (STATE MONEY – not local effort)] Pro-Rata Reductions - $111,002 {$60.10 less per student} $111,002 Base Adjustment Prior Year Adjustment - $1,115 {$0.60 less per student} $3868 – $60.70 = $3807.30 FY12 - $3,903 * ADA of 1904.443 = $7,433,041 Pro-rata reductions $146,343.00 {$76 less per student – STATE Money; 3903 – 76 = $3827 FSPK Prorated Adjustment $14,197

10. OTHER FACTORS Add on money for At Risk, Home & Hospital, Exceptional Children, Transportation, LEP - $2,108,346 Deduct 30 cent effort - Tier 1 Add State Tier 1 – $511,452 Deduct Tier 1 Prorata Adjustment - Building Fund (FSPK) Local Taxes - $460,251 State Match - $240,584 State Prorated Adjustment -$14,197

11. SEEK – GUARANTEED BASE FY 13 Guaranteed Base of $3833 * ADA of 1899.118 = $7,279,319 No Pro-rata Reduction (SEEK Base lowered instead) Add on money for At Risk, Home & Hospital, Exceptional Children, Transportation, LEP - $2,098,495 Deduct 30 cent effort - Tier 1 Add State Tier 1 – $459,979 Deduct Tier 1 Pro-rata Adjustment – None Building Fund (FSPK) Local Taxes - $473,249 State Match - $215,181 State Prorated Adjustment – None

13. SEEK – GUARANTEED BASE FY 14 Guaranteed Base of $3827 * ADA of 1901.929 = $7,278,682 No Pro-rata Reduction (decreased base from 3833  3827 Add on money for At Risk, Home & Hospital, Exceptional Children, Transportation, LEP - $2,214,295 Deduct 30 cent effort - Tier 1 Add State Tier 1 – $454,380 Deduct Tier 1 Pro-rata Adjustment – None Building Fund (FSPK) Local Taxes - $479,238 State Match - $210,211 State Prorated Adjustment – None Anticipated

15. SEEK – GUARANTEED BASE FY 15 Projected  $3911 * Projected ADA of 1856.523 = $7,260,861 SAAR ADA down from previous year 45.4 No Pro-rata Reduction Add on money for At Risk, Home & Hospital, Exceptional Children, Transportation, LEP - $2,252,294 Deduct 30 cent effort - Tier 1 Add State Tier 1 – $449,430 Deduct Tier 1 Pro-rata Adjustment – None Anticipated Building Fund (FSPK) Local Taxes - $485,751 State Match - $209,517 State Prorated Adjustment – None Anticipated

16. SEEK – GUARANTEED BASE FY 16 Projected  $3981 * Projected ADA of 1819.55 = $7,243,629 SAAR ADA down from previous year 37 No Pro-rata Reduction Add on money for At Risk, Home & Hospital, Exceptional Children, Transportation, LEP - $2,302,481 Deduct 30 cent effort - Tier 1 Add State Tier 1 – $412,275 Deduct Tier 1 Pro-rata Adjustment – None Anticipated Building Fund (FSPK) Local Taxes - $493,675 State Match - $187,746 State Prorated Adjustment – None Anticipated

18. COMPARISON Assumption for sake of comparison: all data points, except the assessment, are the same.

19. ACTUAL COMPARISON OF REAL AND PERSONAL PROPERTY + MOTOR VEHICLE – FY 15 TO FY 16 $81,882.21 additional dollars generated as a result of the increased property plus motor vehicle assessment

20. ACTUAL COMPARISON OF REAL AND PERSONAL PROPERTY – FY 15 TO FY 16 You will notice this is higher ($4712.15) than when combined with motor vehicle; this is a result of the decrease in the assessment of motor vehicle.

21. PROPERTY ASSESSMENT FY10 - $ 784,681,128.00 FY11 - $ 799,973,206.00 FY12 - $ 817,062,998.00 FY13 - $ 839,756,269.00 ($22,693,271.00 increase over FY 12) FY 14 - $ 852,818,519.00 ($13,062,250.00 increase over FY 13) FY 15 - $ 860,915,456.00 ($8,096,937.00 increase over FY 14) FY 16 - $ 878,028,965.00 ($17,113,509.00 increase over FY 15) In a perfect world, we would expect an increase of $86,594.36 @ 50.6 cents

22. CONSIDERING CURRENT COLLECTION RATES

23. OPTION #1 Adopt the Compensating Rate (generate the same amount of revenue generated the previous year) 50.4 cents per $100 of assessed property for real estate 50.4 cents per $100 of assessed property for personal property

24. OPTION #2 Adopt the rate of 52.4 cents per $100 of assessed property (1.8 cent increase) for real and personal property (increases revenue by 4%) $175,605.79 above the compensating rate

25. OPTION #3 Adopt the existing rate of 50.6 cents per $100 of assessed property for real and personal property $17,560.58 above the compensating rate

26. OPTION #4 Adopt a rate between 50.4 and 52.4 cents per $100 of assessed property for real property Adopt a rate between 50.4 and 52.4 cents per $100 of assessed property for personal property

27. OPTION #5 Adopt a rate higher than 52.4. Anything above the 52.4 would require a hearing and be subject to recall.

28. 4% IMPACT

29. FY 15 DISTRICT BREAKDOWN 85 Districts took the 4% Rate 59 Districts took the Compensating Rate 29 Districts did something else

30. FY14 RANKINGS/STATS Ranked lowest to highest 63 rd out of 173 (110 had a higher tax rate)for Real Property 63 rd out of 173 (110 had a higher tax rate) for Tangible Property Levied Equivalent Rate: 25 out of 173 (148 had a higher tax rate) We do not tax aircraft or watercraft along with 85 other districts, 88 districts tax one or the other or both