Hopkinsville City Council approved keeping the tax rate on real property the same as last year’s at Tuesday’s meeting and tabled a budget amendment that included CARES Act relief funding.
The original ordinance would have increased the tax rate on real property to 24.7 cents per 100 dollars of assessed value, which represents an increase of eight tenths of one cent. Council however unanimously voted to keep the same real property tax rate of the prior year—at 23.9 cents per 100 dollars of assessed value, with personal property at 24.0 cents. Chief Financial Officer Robert Martin explained that by keeping the rate the same, there will be a budget shortfall of approximately $50,000.
Many councilmembers voiced similar opinions that they could not justify raising taxes on property owners during a pandemic, which has adversely affected many.
In other action, council also voted nine to three to send a budget amendment that absorbed approximately $2.3 million in CARES Act funding into the general fund back to Committee of the Whole for further discussion and possible reallocation of funds. Councilmember Travis Martin made the motion, saying he would like to see more of the funding go to small businesses and other entities who are struggling.
Items the money would have gone towards included $1.5 million towards the future pension obligation reserve, $335,000 towards a small business stimulus program, approximately $671,000 for an economic development fund budget, $60,000 into a parking lot at the Hopkinsville Sportsplex and more.
Councilmember Patricia Bell, Phillip Brooks and Darvin Adams voted against sending the ordinance back to Committee of the Whole.