NOTICE OF PUBLIC HEARING

The City of Fort Wright, KY will hold a public hearing on Wednesday, September 15, 2021 at 6:00 p.m. in the Council Chambers of City Hall, located at 409 Kyles Lane, Fort Wright, KY for the purpose of obtaining comments from the public regarding the proposed real and personal tax rate for FY 2021-2022.  The proposed tax rates are shown below as cents per $100.00 of assessed valuation.

FY 2020-2021

Tax Rate (Real Property)                            .265
Revenue                                                       $1,561,943.00

Tax Rate (Personal Property)                    .409
Revenue                                                       $153,957.00

FY 2021-2022

Proposed Tax Rate (Real Property)          .265
Expected Revenue                                      $1,585,677.58

Compensating Rate (Real Property)         .278
Expected Revenue                                      $1,638,566.24

Proposed Tax Rate (Personal Property) .409
Expected Revenue                                      $149,089.12

Compensating Rate (Personal Property)  .457
Expected Revenue                                      $166,425.63

All revenue in excess of the revenue produced in the preceding fiscal year shall be allocated towards the continued operation of the City, which may include increases in the cost of utilities, personnel, maintenance and acquisition of equipment and supplies, and the general repair of public streets, etc.

The General Assembly of the Commonwealth of Kentucky has required the publication of the foregoing advertisement and the information contained herein.

For more information, please contact the City Administration Building at (859) 331-1700 or email [email protected].