NOTICE OF PUBLIC HEARING
Pursuant to KRS 132.027, the City of Ludlow, Kentucky will hold a Public Hearing on Tuesday, September 6, 2022, at 6:45 p.m. The meeting will be held at the Ludlow Municipal Center, Ed F. Schroeder Meeting Hall, 51 Elm Street, Ludlow, KY for the purpose of hearing comments from the public regarding the institution of proposed tax rates for the 2022-2023 Fiscal Year.
As required by state law, this Notice includes the following information:
Tax Rate
(Per $100 Assessed Value) Revenue
Preceding Year Tax Rate and .520 (Real) $1,159,053
Revenue Generated 1.132 (Personal) $ 139,465
Tax Rate Proposed for Current
Year and Revenue Expected .449 $1,294,064
Compensating Tax Rate and
Revenue Expected .432 $1,245,069
Expected Revenue Generated from
New Property .449 $ 8,112
Expected Revenue Generated from
Personal Property 1.234 $ 155,662
The City of Ludlow proposes to exceed the compensating tax rate by levying a proposed tax rate of $.449 (per $100.00 of assessed value) and a personal property tax rate of $1.234 (per $100.00 of assessed value) which will be spent in the following general areas of city government: Administration, Public Safety, Public Works, Public Affairs and Parks and Recreation.
THE KENTUCKY GENERAL ASSEMBLY HAS REQUIRED PUBLICATION OF THIS ADVERTISEMENT AND THE INFORMATION CONTAINED HEREIN.
Josh Boone
Josh Boone, Mayor
City of Ludlow