Fort Thomas property owners will see a 2.4 percent hike in their 2017 property tax bill. A proposed overall tax rate of .412 per $100 of property was approved by the city council in a four-to-two vote at its September 18 meeting.
The new tax rate includes the compensating rate plus a four percent city revenue increase, the maximum allowed by law.
Councilmembers Ken Bowman and Lisa Kelly voted against the new rate. Bowman expressed concern at the last council meeting that the city should consider not raising the rate to the maximum allowed amount.
"With trash collection and school board going up, I would like us to find a middle ground instead of going for the maximum amount every time," said Bowman at the previous council meeting.
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Councilmember Roger Peterman said a public hearing on the new tax rate was held last week but no one from the audience asked about the tax hike. He said he had hoped to be able to address concerns people might have.
Per the KRS statute, the tax rate meeting was advertised in the back pages of The Recorder.
He offered his perspective on the topic. "At this point in the process, approving this tax rate becomes more of an administrative act. We considered this tax rate when we developed the budget, and we’ve already adopted the budget for this year," he said. "We are depending on those revenues to balance the budget."