Hopkinsville City Council approved the tax rates for the fiscal year on second-reading at a special-called meeting Thursday evening.
The tax rates of 22.3 cents per $100 of assessed value on real property, 29.3 cents per $100 on personal property and 25.1 cents per $100 of assessed value on motor vehicle and watercraft property were read by City Clerk Brittany Byrum.
They were then approved unanimously by present councilmembers—the rates do reflect a decrease on the real estate tax levy, down from 22.5 cents.
In other action, council approved incentives for Toyota Boshoku, who has stated their intent to build a facility in Hopkinsville’s Commerce Park II. The incentives authorize and direct the retention of up to 60 percent of all occupational license fees for the compensation of new employees for a period of 20 years.
Council also approved the issuance of industrial revenue bonds for the project and approved a resolution to send an application to the Kentucky Economic Development Cabinet for funding in the amount of $750,000 for the Toyota Boshoku development.