Sept. 10, 2020
Local city and county governments set tax rates Tuesday night and the fiscal court received tax rates from local districts.
The fiscal court accepted the compensating rate of 14.5 cents per $100 of assessed value during a meeting Tuesday. The rate remains the same as last year and is expected to generate almost $912,000 in real property revenue for the county.
The real property rate is 18.15 cents.
The city’s rate will drop from 22.5 cents to 22.1 cents per $100, which is also the compensating rate. The rate is expected to generate $440,829 in real property revenue for the city.
Council member June Parson said she compared the city’s rates with others in the region and noted that it is the second highest, with only Greensburg being higher.
The city has lowered its rate the past three years and Parson said she wanted to consider lowering it some more. Craig Dean also said he would like to see it lowered but also was concerned about the uncertainty of funding this year and suggested the city could set a goal of lowering the rate to a certain number next year.
The council heard first reading on the rate with no action required. A special called meeting is today at 9 a.m. to approve second reading.
