May 10, 2020 (Cox’s Creek, KY) by Don Thrasher

Nelson County School District Superintendent Wes Bradley in a phone interview and by written response provided the KY Record further information in regards to the article about the recent approval of a $1.4 million property purchase.

Bradley also agreed to give more information and provide raw data on tax rates and per pupil costs in the coming weeks to the KY Record.

Here is the written response to our questions:

Potential Purchasing Timeline (January through July)
The Board of Education has been in conversation since January about the property, including having the property surveyed by local engineers and having an independent appraisal.
We have started to negotiate terms of purchase and evaluate with the Kentucky Department of Education for potential approval of funds and the development of a potential sales contract in the weeks and months ahead.
WHY ARE WE INTERESTED IN PURCHASING? 
  • Any property purchase we make is a long-term investment that continues to demonstrate the district’s interest in efficiency and value for students. This property is ideally suited for future planning due to its proximity to NCHS, OKH, The Academy, & the Area Technology Center.
  • The NCHS, OKH, the ACADEMY, & ATC  campus is our district homebase. These schools are essential to the overall success of the future of our district.This purchase will allow us to expand opportunities for students at these locations and provide future flexibility to consolidate resources as needed.
  • Property Value
    • 10 Years ago the given property appraised for just over S1 million.
    • This year the property appraised for S1.9 million.
  • Potential for pre-school expansion, if and when, universal pre-school becomes a reality for all 3 & 4 year olds.
  • Potential for campus consolidation to decrease costs over long-term through a hub campus.

HOW ARE WE FUNDING THE PURCHASE?

  • We are using unrestricted funds from previous projects that are bi-product of cost savings. No debt is incurred by this project.

  • Every school district in the state utilizes FSPK (Facility Support Programs of Kentucky) funds, enacted in 1994. Starting with a minimum of 5 cents in 1994 districts have between one and four nickels. In Nelson County we have two Nickels that were generated from growth in our community and enacted in 2001 and 2004. These Facility Nickels are a part of our local tax rate making up just over 17 cents.

  • The Nelson County Schools generate $4.9 million in facility tax revenue annually from this 17 cents. Of this revenue, $4.6 million is paid annually towards previous projects.

The KY Record will continue to investigate this ongoing issue and will be giving a more detailed article in the coming weeks on issues surrounding the property tax rates in the district.