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Public Hearing--Thursday, September 10, 2020 6:30 p.m.

NOTICE OF PUBLIC HEARING

Pursuant to KRS 132.027, the City of Ludlow will hold a Public Hearing on September 10, 2020, 6:30 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 2020-2021 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                 .468 (Real)                          $1,004,484

Revenue Generated                               .975 (Personal)                   $   117,541

Tax Rate Proposed for Current

Year and Revenue Expected                   .511                                   $1,105,064

Compensating Tax Rate and

Revenue Expected                                 .492                                    $1,063,975

Expected Revenue Generated from

New Property                                         .511                                     $      7,754

Expected Revenue Generated from

Personal Property                               1.063                                     $  129,454

The City of Ludlow proposes to exceed the compensating tax rate by levying a proposed tax rate of $.511 (per $100.00 of assessed value) and a personal property tax rate of $1.063 (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.

                                                                                          Joshua A. Boone                    

                                                                              Joshua A. Boone, Mayor

                                                                              City of Ludlow

A copy of this notice has been published in The Kentucky Enquirer on Thursday, September 3, 2020.


Posted in: City Council

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