HAZARD –Taxpayers in Perry County should not see a change in their county tax bills this year after the fiscal court on Tuesday approved a new tax rate for 2013.
The court unanimously approved a new rate of 9.6 cents per $100 of assessed value for real property, up slightly from 9.5 in 2012. While higher than last year’s rate, the new rate is designed to bring in the same amount of revenue as the previous year, and was recommended by the Department for Local Government, noted Judge-Executive Denny Ray Noble.
The slight rate increase isn’t expected bring in any new revenue, but Noble said it will ensure the county does not lose local funding due to a decline in 2013 property valuations.
“It brings the same amount of money into the fiscal court as we got last year,” Noble said.
The court declined an option to approve a rate of 9.9 cents, which would have generated a 4 percent increase in revenue, but also would have been subject to a public hearing. The compensating rate, which the court approved, will not be subject to an additional hearing, and is expected to generate $1,169,632 in local revenue for the fiscal court, according to a calculation sheet from the Department for Local Government.
The court also reviewed rates from other local entities on Tuesday, including the county’s special districts’ rates which are set by boards independent of the fiscal court.
Rates for the Perry County Public Library (14.3 cents), Perry County Board of Health (3.5 cents), City of Hazard (29 cents), City of Buckhorn (25 cents), and Hazard Independent Schools (54.2 cents) all remained the same from the previous year. The Perry County Board of Education approved an increase to 50.2 cents for the year which is expected to bring in 4 percent more revenue than the previous year.