The City of Fort Wright, KY will hold a public hearing on Wednesday, October 3, 2018 at 6:00 p.m. in the Council Chambers of City Hall, located at 409 Kyles Lane, Fort Wright, KY for the purpose of obtaining comments from the public regarding the proposed real and personal tax rate for FY 2018-2019. The proposed tax rates are shown below as cents per $100.00 of assessed valuation.
FY 2017-2018
Tax Rate (Real Property) .283
Revenue $1,476,735.94
Tax Rate (Personal Property) .413
Revenue $162,438.91
FY 2018-2019
Proposed Tax Rate (Real Property) .290
Expected Revenue $1,563,732.89
Compensating Rate (Real Property) .279
Expected Revenue $1,503,769.79
Proposed Tax Rate (Personal Property) .426
Expected Revenue $170,375.92
Compensating Rate (Personal Property) .409
Expected Revenue $163,634.17
All revenue in excess of the revenue produced in the preceding fiscal year shall be allocated towards the continued operation of the City, which may include increases in the cost of utilities, personnel, maintenance and acquisition of equipment and supplies, and the general repair of public streets, etc.
The General Assembly of the Commonwealth of Kentucky has required the publication of the foregoing advertisement and the information contained herein.