County Clerk Chris Horn presented the tax rates at the Mercer County Fiscal Court’s regular meeting on Tuesday, Sept. 14. The tax rates are approved by districts’ board of directors. The fiscal court cannot change the rates.
Last month, the court approved a rate of 13.0 on real property and 19.17 on personal property. All of the rates are per $100 in assessed value.
The new tax rates would generate a four percent increase in county tax revenues, not a four percent increase in the tax rate. Officials say the new tax rate could generate $73,000 in additional revenue for the county and would increase the average tax bill by approximately three dollars.
The Mercer County Public Library reduced the rates they collect for real and personal property by two-tenths of a cent to 7.6 percent. The Mercer County Conservation District chose to keep their tax rate unchanged from the year before. The conservation district has charged the same rate-a millage tax of seven-tenths of a cent-for decades.
Horn told the Harrodsburg Herald the only one of the county’s seven taxing districts to raise taxes was the Mercer County Fire Protection District, which raised the rate they collect on real and personal property from 6.0 to 6.5 cents.
Last week, the Mercer County Board of Education voted to keep their tax rate at 70.1 cents for real estate and 72 cents for personal property.
The magistrates accepted the tax rates for all taxing districts for the 2021-2022 fiscal year. Next, the tax bills will be printed and delivered to the county sheriff’s office for mailing, according to the Kentucky Department of Revenue.