Bracken County tax rate lower while revenue rises

2012-09-28T18:00:00Z 2014-08-25T23:01:05Z Bracken County tax rate lower while revenue risesWENDY MITCHELL wendy.mitchell@lee.net Ledger Independent
September 28, 2012 6:00 pm  • 

BROOKSVILLE | The final step of accepting the tax rates to appear on 2012 bills was taken Wednesday in Bracken County Fiscal Court.

Magistrate Carl Allen questioned the rate submitted by Bracken County Health Department, which is .015 cents per $100 assessed value higher than last year.

Judge-Executive Earl Bush reminded magistrates the court was simply approving inclusion of the special district rates on the bills, but had no authority over the special district rates set by the individual boards.

The health department had not increased rates in a number of years and was struggling to meet unfunded federal mandates, Bush said.

Magistrates accepted the second reading of the 2012-13 Bracken County budget on June 13. Tax rates associated with the budget and approved by the court in July were approved by the state earlier this month, official said.

A small percentage of economic growth means a little savings for taxpayers in Bracken County, officials announced in August.

During the second reading of the 2012-2013 budget, Bracken County Judge-Executive Earl Bush recommended taking the compensating rate. In 2011-2012 the compensating rate was .402 cents. The approved rate for 2012-2013 is only .401 cents, but would raise nearly the same amount of revenue the county needs, Bush said.

According to officials, in Bracken County there is $264,202,366 in real estate; $11,105,514 in tangible personal property; $12,802,090 in public service companies under real estate and $44,879,026 in personal property; $46,588,650 in motor vehicles; $906,083 in watercraft and $3,082,308 in inventory in transit.

Using the compensating rate projects a total income from taxes at $1,424,575.97 for 2012-2013, versus $1,392,263.25 for the 2011-2012 fiscal year, officials said.

For the 2012 tax assessment year, these special district rates were accepted as submitted on Wednesday:

-- Bracken County School District took tax rate of .401 cents per $100 assessed value on personal and real property; .1880 cents per $100 on motor vehicle and watercraft.

-- Bracken County Health Department increased its rate to .048 cents per $100 assessed valued for all four categories.

-- Bracken County Public Library set .092 cents per $100 for real estate and tangible personal rates and personal aircraft. Motor vehicle and watercraft rates were set at .05 per $100 assessed value.

-- Bracken County Extension Office submitted a rate of .067 per $100 assessed value for real estate and tangible personal property, and personal aircraft, with a rate of .033 cents per $100 for motor vehicle and watercraft rates.

--Augusta School submitted rates of .6160 cents per $100 on real estate and tangible personal property and .576 cents per $100 on motor vehicle and watercraft.

--Bracken County School set its rates at .365 cents per $100 for real estate and tangible personal and .525 cents per $100 for motor vehicle and watercraft rates.

– Bracken County Ambulance set rates at .077 cents per $100 for real estate and tangible personal property, and .054 cents per $100 for motor vehicle and watercraft tax rates.

Copyright 2015 Ledger Independent. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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