The City of Owensboro approved a slight decrease in the personal property tax rate for the new fiscal year. The real property and vehicle tax rates are expected to stay the same.
The new personal property tax rate is 27.08 cents per $100 of assessed valuation, down from 27.61 cents. It marks the second consecutive decrease after the Commission in 2022 approved dropping the rate from 33.02 cents per $100 of assessed valuation to 27.61 cents.
The real property tax — also known as real estate or property tax — remains at 26.4 cents per $100 of assessed valuation. This would mean a property assessed at $100,000 would pay $264 in property taxes.
Similarly, the vehicle rate remains at 13.3 cents per $100 evaluation under the tax rates.
