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Notice of Public Hearing Tax Rate

Monday, September 12, 2022

NOTICE OF PUBLIC HEARING: Pursuant to KRS 132.027, as amended by the Kentucky General Assembly Extraordinary Session of 1979, the City of Newport, KY will hold a Public Hearing on Monday, September 19, 2022 at 7:00 p.m. local time in the Multi-Purpose Room of the Newport City Building, 998 Monmouth Street, to hear comments from the public regarding a proposed real estate tax rate of $2.74 per $1,000 valuation and proposed personal property tax rate of $2.74 per $1,000. As required by law, this includes the following information:

 

Tax Rate Per $1000 Assessed Valuation

Revenue

Preceding Year Tax Rate and

$2.74

$2,302,488

Real Property Revenue

 

 

Tax Rate Proposed for 2022 and

$2.74

$2,427,641

Expected Real Property Revenue

 

 

Compensating Tax Rate and

$2.64

$2,334,270

Expected Real Property Revenue

 

 

Revenue Expected from

$2.74

$22,680

New Real Property

 

 

Tax Rate Proposed for 2022 and

$2.74

$291,679

Expected Personal Property Revenue

 

 

 

All revenues in excess of the amounts generated in 2022 will be allocated to all City operating departments and divisions, including: Police, Fire/EMS, Public Works, Recreation, Code Enforcement, and General Administration.

Posted at 998 Monmouth and on www.newportky.gov on 9/6/22. Scheduled for advertisement in the Kentucky Enquirer on 9/6/22 and 9/12/22.

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