Christian Fiscal Court approved the property tax ordinance for the fiscal year on second-reading at Tuesday’s meeting, and approved general obligation bonds.
The 2024 property tax rate will be 17.6 cents per $100 of assessed value, down from 18.1 percent, and will allow for the county to take the maximum four percent increase in revenue. That new rate will collect an estimated $8 million in revenue—when added with the other tax levies in the county, there could be an estimated $9 million in receipts.
County tangible rates will be 18.7 cents per $100 of assessed value, motor vehicles will be 11.6 cents, as would watercraft vehicles.
Magistrates approved first-reading of an ordinance dealing with general obligation bonds through the Kentucky Association of Cities—Judge-Executive Jerry Gilliam says the funds would go towards industrial development incentives.
Then, Judge Gilliam says they were approved for flex funds through the Kentucky Transportation Cabinet in the amount of approximately $550,000.
In other action, magistrates approved appointments to the Library Goard and a memorandum of understanding with the Pennyroyal Center. They also heard updates from FEMA on how people can apply for disaster assistance grants through the FEMA website.