Special taxing district rates approved by Fiscal Court

The Montgomery County Fiscal Court approved proposed tax rates for the special purpose governmental entities taxing districts at a special meeting Sept. 2.

By law, the Fiscal Court is now required to approve the rates.

The Fiscal Court itself proposed rates of 6.1 cents per $100 of assessed value for real estate, tangible personal property, public service co. (real estate), public service co. (personal property) and aircraft. Rates of 1.5 for tobacco in storage and 12.6 for motor vehicles and watercraft were also approved. The county further approved a tax rate of 3 cents per acre of all forest and timberlands to be levied for fire protection.

The Fiscal Court approved taxing rates including 10 cents per $100 for both real and personal property for the ambulance district. It proposed a rate of 10 cents for motor vehicle and watercraft.

The fire district proposed rates of 9.9 cents for real property and 10 cents for personal property. It proposed a rate of 10 cents on motor vehicle and watercraft.

Because the district is asking for the compensating rate plus 4 percent it will hold a public hearing 6 p.m. Sept. 14 at the Bypass fire station.

The library district proposed rates of 3 cents on motor vehicle and watercraft and 7.70 on real property as well as 8.42 on personal.

The Montgomery County Board of Health proposed rates of 6 cents across the board for real and personal property, as well as motor vehicle and water craft.

The Montgomery County Extension Board approved rates of 5.8 cents for real property, 10.06 cents on personal property and 2.32 cents on motor vehicle or watercraft.

Though they do not have to be approved by the Fiscal Court, the city of Mt. Sterling and the Montgomery County Board of Education have also either approved or discussed rates for next year.

The school board recently approved rates of 52.5 cents for real and personal property. 

The rate will produce more money than last year and is needed to offset a loss in SEEK funding. The rate does not exceed the compensating rate and the district was not required to hold a public hearing but did so in an effort of transparency last week. No one from the public spoke.

In August, the Mt. Sterling City Council approved first reading of an ordinance that would establish tax rates. The real and tangible rates are expected to be set at the meeting this month.

Mayor Al Botts said calculations for the compensating rate came back 20.6 cents per $100, but the city has proposed lowering it by a tenth to 20.5, Mayor said.

He said this is the lowest rate since 1977.

Vehicle rates are the same as they have been since 2008 at 24.4 cents per $100.