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2022 Proposed Tax Rates Public Hearing

PUBLIC NOTICE
2022 Proposed Tax Rates
Public Hearing

The Boone County Fiscal Court will hold a public hearing on Tuesday, August 23, 2022, at 8:30 A.M. in the Fiscal Court Chambers located at 2950 Washington Street, Burlington, Kentucky 41005 for the purpose of obtaining written and oral comments from the public regarding the proposed tax rates for 2022. The real property tax rate levied in the preceding year was 9.8 cents per $100 valuation and produced revenue in the amount of $13,214,531. This year’s compensating tax rate is 9.6 cents per $100 valuation and will produce estimated revenue in the amount of $13,685,908. The Boone County Fiscal Court proposes a real property tax rate for 2022 of 9.8 cents per $100 valuation which will produce estimated revenue in the amount of $13,971,031. The County proposes a personal property tax rate for 2022 of 12.6 cents per $100 valuation.

Revenue estimated from New Property is $296,185; revenue estimated from Personal Property is $3,209,535; revenue estimated from Motor Vehicles is $1,928,561 and revenue estimated from Watercraft is $27,282. Tax revenue received in excess of the preceding year tax revenue will be allocated for general operating expenditures associated with public service delivery and capital projects.

The Kentucky General Assembly requires that the Boone County Fiscal Court publish this notice with the above information contained herein.

135968

population

4 th

largest county

1798

founded

42 mi

of riverfront