Commissioners propose ordinance keeping currant real estate tax rate
Real estate and personal property taxes in Paducah are expected to stay the same for next year after the Paducah City Commission introduced an ordinance Tuesday.
Commissioners proposed to keep the city’s real estate tax levy at 25.5 cents per $100 assessed value. The city’s compensating rate of 25.4 cents for $100 assessed value is the rate the city says would keep the revenue at the same amount as this fiscal year. City spokeswoman Pam Spencer says state law allows the city to increase the tax rate up to 4 percent of the compensating rate, but the city would take less than 4 percent with the proposed 25.5 cent per $100 tax levy.
A vote is scheduled for Oct. 4.