Public Hearing--Thursday, September 10, 2020 6:30 p.m.
Posted on September 01, 2020
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 | 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. BooneJoshua A. Boone, Mayor
City of Ludlow
A copy of this notice has been published in The Kentucky Enquirer on Thursday, September 3, 2020.