Pursuant to KRS 132.027, the City of Elkton, KY will hold a Public Hearing on Thursday, September 8, 2022 at 6:00 p.m., local time, in Elkton City Hall, 71 Public Square, Elkton, Kentucky, to hear comments from the public regarding a proposed real property tax rate of $.249 per $100 valuation and proposed personal property tax rate of $.1598 per $100 valuation. As required by law, this includes the following information:
Tax Rate Per $100 Assessed Valuation – Revenue
Preceding Year’s Tax Rate and Revenue Generated – $ .249 (Real) -$ 175,633 and $ .1676 (Personal) – $ 16,741
Tax Rate Proposed for 2022 and Expected Revenue – $ .249 (Real) – $ 191,356 and $ .1598 (Personal) – $ 18,239
Compensating Tax Rate and Expected Revenue – $ .240 (Real) – $ 184,440 and $ .1540 (Personal) – $ 17,577
Revenue Expected from New Real Property – $ .249 (Real) – $ 8,909
Todos los ingresos que excedan los montos generados durante el año anterior se asignarán a todos los departamentos operativos de la ciudad, incluidos: Policía, Bomberos, Obras Públicas, Cultura y Recreación y Administración General. La Asamblea General de Kentucky ha exigido la publicación de este anuncio y la información que contiene.
Laura M. Brock
Secretario municipal/tesorero, Elkton, KY
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