Hopkinsville City Council approved first reading of a property tax ordinance Tuesday night that would decrease property tax rates to the lowest level in at least 32 years, but would still create a four-percent increase in revenue due to reassessments of real property in the city limits.
The tax rate on real property would decrease from 23.9 to 22.5 cents per $100 of assessed value under the ordinance that comes after many properties were reassessed at higher values in the last year. City Clerk Crissy Fletcher clarified the rates while reading the ordinance at Tuesday’s meeting.
The rates on personal property and vehicles would remain the same under the ordinance.
The tax rate will be up for second-reading at a special calling meeting of Hopkinsville City Council Thursday evening at 6 p.m.
Mayor Wendell Lynch took time to recognize both Fire Chief Steve Futrell and Parks and Recreation Superintendent Tab Brockman on their recent designations as Kentucky Fire Chief of the Year and City Employee of the Year, saying they make Hopkinsville proud.
In other action, council approved the issuance of general obligation bonds in the amount of $3.8 million in relation to Ascend Elements, which intends to locate a new electric vehicle manufacturing facility in Commerce Park #2. The amount is to fund the purchase of 65 acres of land where they facility would be built.