News Column

Little change seen in property tax rates

August 19, 2014

By Machaela Ballard, Richmond Register, Ky.

Aug. 19--Local property tax rates already approved have changed little from last year, and entities still to set their rates also expect few changes.

Both the Madison County Library Board and the Berea Independent School Board set their rates Monday night without objections.

The library board retained it rates from 2013, which may generate slightly more revenue because of new property or increased valuations, said Ruthie Maslin, library director. The tax rate on real estate will be 5.6 cents per $100 of assessed value.

The Berea Schools rate is going up 1.3 cents on real estate but is expected to generate the same revenue as the previous year.

Property in the district was re-valuated prior to the 2013 rate being set, according to Superintendent Mike Hogg. Appeals of valuations, however, lowered total values somewhat by this year, requiring a slightly higher rate to produced the same revenue, he said.

The Madison County Ambulance Board will meet 2 p.m. Thursday at its South Keeneland Drive headquarters to set its tax rates. But Carlos Coyle, assistant EMS director, said at most he expects rates that would generate only a slight increase in revenue.

Madison Fiscal Court will hear first reading of a tax rate ordinance when it meets 9:30 a.m. Tuesday, Aug. 26, in Richmond. Judge/ Executive Kent Clark said he expects the rate for real estate to remain at 8.3 cents.

The Richmond City Commission also is set to hear first reading of its tax rate ordinance Aug. 26 at 6 p.m. in City Hall. City Clerk Lisa Cassity it likely will set rates near what they were for 2013.

The Madison County School Superintendent Elmer Thomas announced two weeks ago he will recommend retaining the district's property tax rate, 60.1 cents.

The Berea City Council may consider its tax rates when it meets 6:30 p.m. Tuesday, Sept. 2, said City Administrator Randy Stone.

The Madison County Extension Board set its property tax rates Aug. 6, retaining the rates it has levied for at least the past nine years, said Extension Agent Amanda Sears.

The Madison County Health Department in June voted to retain the property tax rate, 5 cents, it has had since 2006, said department spokesperson Christie Green.


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Source: Richmond Register (KY)

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