Daviess County Fiscal Court voted in approval Thursday to keep property tax rates the same for 2019-2020, which means residents won’t see a hike on their property taxes unless the value of their property increased.
The real property tax rate levied last year was 13.5 cents per $100 of assessed value, producing revenues of $7,921,889. This year’s compensating rate is 13.3 cents and will produce revenues of $8,176,362. Daviess County Fiscal Court proposed a tax rate of 13.5 cents, the same as the 2018-2019 tax rate, which will produce total revenues of $8,299,315.
Officials say revenue received in excess of last year’s will be used for general government administration and protection to persons and property.
A public hearing was held Thursday before the bi-monthly Fiscal Court meeting, where residents could comment on the tax rate, though no one from the public was present to speak against the proposed tax rate.
Fiscal Court will see $120,000 more in revenue by adopting the same tax rate as last year than if they’d taken the compensating rate of 13.3 cents.
Revenue expected from new property is $122,620, from personal property is $1,401,210, from motor vehicles is $1,233,318 and from watercraft is $25,528.
