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Council meets Aug. 29, 2006 for tax rate hearing


PUBLIC NOTICE
The City of Columbia will hold a Public Hearing on August 29, 2006, at 1:00pm in the City Hall, 116 Campbellsville Street, Columbia, KY 42728, to receive comments from the public regarding the proposed tax rate for 2006.



Tax Rate for 2005 was .2550, which produced revenue of $317,948.00.

Tax Rate proposed for 2006 is .2500, which will produce revenue of $336,044.00.

Compensating Tax Rate if .2404 which will produce revenue of $323,140.00.

Revenue from new property and personal property at .2500 tax rate would $70,544.00.

Revenue in excess of preceding year revenue will be allocated for the purpose of paying officers and employees of the City of Columbia, expenses of the Fire Department, street maintenance and improvements, construction as well as the current expenses of the City and shall be paid into the Main Account for the purpose of paying all legal claims arising against the City.

The General Assembly of Kentucky requires publication of this Public Notice and the information contained herein per KRS 132.027 when the proposed tax rate (.2500) exceeds the compensating tax rate (.2404).

All interested citizens will have the opportunity to give comments at the Public Hearing with regards to the proposed tax rate. Senior citizens are encouraged to attend and comment. Disabled persons needing assistance or aid should contact the City Clerk's Office (270-384-2501) no later than three (3) days prior to the hearing.
To be reminded of this and other important dates and times, Click on Events in Quick Links.


This story was posted on 2006-08-28 10:53:24
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