# FCPS Board approves 2026-27 budget, property tax rates amid deficit recovery **Published:** 2026-09-11T14:39:28.000Z **Source:** [FCPS Board of Education Meetings](https://www.youtube.com/watch?v=xXI0Qyc2OiE) **AI-generated:** yes (claude-haiku-4-5-20251001) **Canonical:** https://feeds.lexingtonky.news/article/fcps-board-approves-2026-27-budget-property-tax-rates-amid-deficit-recovery LEXINGTON, Ky. — The [Fayette County Public Schools Board of Education approved the district's 2026-27 budget and property tax rates during a planning session on September 10](https://www.youtube.com/watch?v=xXI0Qyc2OiE), moving forward with a tax increase aimed at addressing financial challenges that emerged during the previous fiscal year. The board voted unanimously to set property tax rates at 79.7 cents per $100 of assessed valuation for real estate, 81.1 cents for personal property, and 59.2 cents for motor vehicles. [The rates are designed to generate 4 percent more in property tax revenue, an estimated $21.9 million, for the district](https://spectrumnews1.com/ky/louisville/news/2026/08/19/fcps-proposes-tax-rates), despite the actual tax rates declining slightly from the previous year due to growth in local property valuations. The district is working to recover from financial problems that came to light in recent months. [An independent audit highlighted significant concerns involving limited approval workflows and improperly categorized expenses](https://fox56news.com/news/local/lexington/fayette-county-schools-audit-flags-concerns-as-budget-shortfall-could-reach-22m/). Interim Superintendent Dr. Bill Bradford outlined a multi-pronged leadership plan addressing six priority areas: financial recovery, academic quality, specialized programs and capital assets, resource optimization, emergency preparedness and safety, and board governance and public transparency. During public comment, residents expressed concerns about the district's financial management. [One speaker referenced audits documenting problems with transparency to the board and public, noting that 94 percent of professional leave preapprovals were missing](https://www.weku.org/lexington-richmond/2026-08-18/fayette-county-schools-seeks-new-tax-rates-to-boost-revenues-amid-15m-budget-shortfall) during the auditing process. The board also heard from the PTA president of George Washington Carver STEM Academy for Boys, urging the district to determine a permanent location for the program quickly. She noted enrollment surged from 141 students last year to 241 this year, but transportation changes two weeks before the school year began caused 25 families to withdraw their children. The board approved the district's annual policy updates and minutes from the August 17 regular meeting before entering closed session to discuss real property acquisitions and pending litigation. ## Sources - [FCPS Board of Education Meetings](https://www.youtube.com/watch?v=xXI0Qyc2OiE) - [Spectrum News: FCPS proposes tax rates](https://spectrumnews1.com/ky/louisville/news/2026/08/19/fcps-proposes-tax-rates) - [FOX 56: FCPS audit flags concerns](https://fox56news.com/news/local/lexington/fayette-county-schools-audit-flags-concerns-as-budget-shortfall-could-reach-22m/) - [WEKU: Fayette County schools seeks new tax rates](https://www.weku.org/lexington-richmond/2026-08-18/fayette-county-schools-seeks-new-tax-rates-to-boost-revenues-amid-15m-budget-shortfall) - [FCPS Board of Education agendas & records](https://www.fcps.net/about/board-of-education/agendas-records) --- This article was generated by AI (claude-haiku-4-5-20251001) based on source material from FCPS Board of Education Meetings, enriched with 2 web searches. The original source is available at https://www.youtube.com/watch?v=xXI0Qyc2OiE.