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County maintains property tax rates

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Rate remains the same for sixth year in a row

By Marty Finley

Hardin Fiscal Court accepted a recommendation by Judge-Executive Harry Berry to hold property tax rates steady for the sixth straight year during its Tuesday voting meeting.

The real estate property tax rate was set at 10.9 cents per $100 of assessed value for the general and road funds, 2.2 cents per $100 of assessed value for the health department fund, 0.15 cents per $100 of assessed value for the soil conservation district and 1.10 cents per $100 of assessed value for the Cooperative Extension Service.

The personal property tax rate also was held at 10.9 cents per $100 of assessed value for the general and road funds and was set at 2.2 cents per $100 of assessed value for the health department fund and 1.56 cents per $100 of assessed value for the Cooperative Extension Service.

The motor vehicle, watercraft and aircraft tax remained the same rate it has been for decades at 11.5 cents per $100 of assessed value for the general and road funds, 2.2 cents per $100 of assessed value for the health department fund and 1.46 cents per $100 of assessed value for the Cooperative Extension Service.

Fiscal Court also levied a fire protection tax of 2.0 cents on each eligible acre of land in the county.

The tax rate set is the compensating rate, which is the rate that produces an amount roughly equal to the previous year.

The rates are expected to produce just more than $6 million in gross revenue and about $5.64 million in net revenue, providing adequate money to offset the county’s expenses, Berry said.

The rate, which equals the lowest set in more than 20 years, falls below the 4 percent growth rate of 11.3 cents per $100 of assessed value, which is the maximum the county could levy without being subject to voter recall.

The county has rejected the growth rate eight out of the last 11 years but routinely took it prior to 2003, according to Berry.

Property taxes make up more than 21 percent of the county’s revenues, which exceed $31 million. But Berry said less than 13 cents of each dollar collected in property taxes is paid to the county. More than 67 percent of property tax allocations go back to local school districts, he said.

Marty Finley can be reached at 270-505-1762 or mfinley@thenewsenterprise.com.