GLASGOW, Ky. — The Glasgow Independent Board of Education is proposing a property tax rate of 78.5 cents per $100 of assessed value for real property for the 2026–27 fiscal year.

The proposed rate is down from 79.1 cents on real property last year. The rate on personal property would remain at 80.9 cents.

Despite the lower real property rate, the district expects to collect about $7.81 million in general fund property tax revenue, compared with about $7.36 million collected in fiscal year 2026.

The district expects $1.16 million of the proposed revenue to come from new property and personal property.

The proposed rates are also the district’s compensating tax rates, meaning the rates are calculated to generate approximately the same amount of revenue from existing property as the previous year after accounting for changes in property values.

The proposed $7.81 million in revenue would be allocated to several areas:

• Instruction: $5.55 million
• Building fund: $1.13 million
• Maintenance of plant: $687,000
• Transportation: $234,000
• Cost of collections: $214,774

The school board is expected to meet again Sept. 10 at 5:30 p.m.