Pursuant to KRS 132.027, the City of Elkton, KY will hold a Public Hearing on Thursday, September 9, 2021 at 5:45 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 $.1676 per $100 valuation. As required by law, this includes the following information:
Tax Rate Per $100 Revenue Assessed Valuation
Preceding Year’s Tax Rate and Revenue Generated – $ .249 (Real) – $ 169,622 – $ .1682 (Personal) – $ 16,164
Tax Rate Proposed for 2021 and Expected Revenue – $ .249 (Real) – $ 175,633 – $ .1676 (Personal) – $ 16,741
Compensating Tax Rate and Expected Revenue – $ .244 (Real) – $ 172,106 – $ .1642 (Personal) – $ 16,401
Revenue Expected from New Real Property – $ .249 (Real) – $ 2,457
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
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