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Notice of Public Hearing

Pursuant to KRS 132.027, as amended by the Kentucky General Assembly Extraordinary Session of 1979, the City of Russellville will hold a Public Hearing on Tuesday, August 30, 2016 at 4:45 p.m. at City Hall, Russellville, Kentucky to hear comments from the public regarding the proposed 2016 Tax Rates on Real Property.

            As required by law, this includes the following information:

                                               Tax Rate per

                                               $100 Assessed

                                               Valuation

                                                                                                    Revenue:

1.   Preceding Year Tax Rate and Revenue            .255            685,261

Produced from Real Property

2.   Tax Rate Proposed for Current Year and       .255           695,059    

      Expected Revenue from Real Property

3.   Compensating Tax Rate and Expected             .252             686,882      

Revenue from Real Property

4.   Revenue Expected from New Real                                     (     1,054)          

Property - Less Exemptions

5.   Preceding Year Tax Rate and Revenue            .329              231,211     

      Produced from Personal Property     

6.   Tax Rate Proposed for Current Year and        .329             205,653       

      Revenue Expected from Personal Property     

 

The City of Russellville proposes to exceed the compensating rate by levying a proposed rate of .255, the same rate as for the 2015 year.   If revenues are in excess of the revenue produced in the preceding year revenues will be spent in the following areas of City government:  Administrative, Police, Fire, Streets, Cemeteries, Parks and Recreation and Service Center.

THE KENTUCKY GENERAL ASSEMBLY HAS REQUIRED PUBLICATION OF THIS ADVERTISEMENT AND THE

INFORMATION CONTAINED HEREIN.

 

Bob Riggs

City Clerk / Treasurer

City of Russellville, Kentucky