City Looks to Decrease Tax Rate

The city of Lawrenceburg considered reducing taxes on personal property last night during their monthly city council meeting.

According to the proposed ordinance, all taxes will remain the same except for the personal property tax which will go from $0.3075 per $100 of assessed value to $0.2355 per $100.

Real property tax will remain at $0.195 per $100 along with motor vehicle tax at $0.229 per $100.  Despite the drop in taxes, tax revenue for the city is expected to increase by about $17,000 due to increasing property values.

The first reading of the tax rate passed unanimously and will need a second reading at the next council meeting before going into effect.

The city also gave an update on the spray park project that is currently being built at the Legion Park.  According to city clerk, Robbie Hume, all equipment for the park has been delivered and the city is waiting on approval from the Kentucky Division of Water to being plumbing.

Share on FacebookTweet about this on TwitterShare on TumblrPin on PinterestEmail this to someone
Posted in Business & Government.

Leave a Reply

Your email address will not be published.