August 27, 2012

Court sets tax rate

LAUREL COUNTY, Ky. — The tax rates for 2012-2013 are set, and approved by the Laurel County Fiscal Court.

Rates for the 2012-2013 fiscal year show an increase in only one area — that being for the UK County Extension Service.

In that category, the tax rate for real property increased from 2.2 cents per $1,000 last year to 2.4 for the 2012-2013 fiscal year, and personal property rates rose from 3.5 cents to 3.75. The motor vehicle tax and watercraft tax remained the same, at 1.03.

Other tax rates showed no increase from the prior year, leaving the county rate for real property at 6.20 cents and personal property at 6.20.

Soil Conservation tax remained at 0.004 cents, and the public library rate at 8.0 for real property and 13.83 for personal property. Bush Fire Department District will continue to collect at 5.70 cents per $1,000. The Laurel County Health Department tax remained at 4.0 for all three entities of real property, personal property and motor vehicle. The county motor vehicle tax and watercraft remained at 10 cents, respectively.

Laurel County Judge Executive David Westerfield explained that magistrates  and the fiscal court do not set or approve the tax rates--they simply listen to the reading of the proposed rates and approve the document.

Tax rates generate monies for special districts and are applied according to the value of property, motor craft and vehicles.


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