City To Set 2019 Tax Rate
The city of Bourbon held a public hearing on Tuesday to set the 2019 real estate property tax rate for 2019.
The hearing was held prior to the council’s regular monthly meeting.
The following rates are proposed per $100 of assessed valuation.
For the general fund, the proposed rate is $.8604, up from $.8470 in 2018. The police fund proposal is $.4081, up from $.4017 in 2018 and the park fund proposal remains at $.1000.
Overall, the tax rate is $1.3685.
Assessed valuation for residential property in 2019 is $6,924,740, an increase from $6,906,800 in 2018.
Commercial valuation is $3,939,110, which is up from $3,856,959 in 2018.
Agriculture is at $2,370, which is down from $2,460 last year.
The total assessed valuation is $10,866,220. Last year it was $10,776,219.
Vacant Seat
At the time of this publication, it was not known if the city had found a replacement for Thomas Jordan, who resigned his seat as Ward 1 Alderman after moving out of the district.