NOTICE OF PUBLIC HEARING
Pursuant to KRS 132.027, the City of Elkton, KY will hold a Public Hearing on Thursday, October 8, 2020 at 5:45 p.m., local time, in the Historic 1835 Courthouse Welcome Center, 1 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 $.1682 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) $ .1497 (Personal) |
$ 161,248 $ 15,368 |
||
| Tax Rate Proposed for 2020 and Expected Revenue |
$ .249 (Real) $ .1682 (Personal) |
$ 169,622 $ 16,164 |
||
| Compensating Tax Rate and Expected Revenue |
$ .241 (Real) $ .1628 (Personal) |
$ 164,172 $ 15,645 |
||
| Revenue Expected from New Real Property |
$ .249 (Real) | $ 2,468 |
All revenues in excess of the amounts generated over the previous year will be allocated to all City operating departments, including: Police, Fire, Public Works, Culture and Recreation, and General Administration. The Kentucky General Assembly has required publication of this advertisement and the information contained herein.
Laura M. Brock
City Clerk/Treasurer, Elkton, KY