Pursuant to KRS 132.027, The City of Fulton Commission will hold a public hearing on September 24, 2018 at 5:30 pm. The meeting will be held at 101 Nelson Tripp Place at Fulton City Hall for the purpose of hearing comments from the public regarding the institution of the proposed tax rates for the 2018-2019 fiscal year.
The City of Fulton proposes to exceed the compensating tax rate by levying a real property tax rate of .2980 (per $100 of assessed value) and a personal property tax rate of 0.3916 (per $100 of assessed value). This represents a 4% increase from the Compensating Rate.
The tax rate will increase from .2780 per $100 of assessed value to .2980 per $100 of assessed value on all Real Property for an increased revenue amount of $9,695 and from .3009 per $100 of assessed value to 0.3916 per $100 of assessed value on all Personal Property for an increase revenue amount of $12,961. If the
new rates are enacted, revenue to the city will increase approximately $22,656.
The additional revenue generated will be utilized in the General Fund for governmental purposes. All persons desiring to present their views (either oral or written) on the proposed rates and fees shall be heard.