OWENSBORO, Ky. (WEHT) — The Owensboro City Commission revealed a proposal for property and vehicle taxes for the upcoming fiscal year.
While, overall tax rates are expected to stay the same, the proposed personal property tax rate could see a decrease.
The rate could decrease from 27.61 cents per $100 of assessed valuation to 27.08 cents.
If approved, it would mark the second consecutive decrease the commission has approved, since its original drop from 33.02 cents in 2022.
The City Manager says the personal property rate is a small change driven by the status of real estate tax.
“It’s a marginal decrease, and the personal rate is figured on a calculation driven by the real estate property tax rate,” said Nate Pagan.
The Commission will make the final vote on the proposal at their next meeting on Sept. 19.
