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Elizabethtown council approves vehicle, bank-deposit and property tax ordinances
Summary
At a Sept. 22 special meeting the Elizabethtown City Council unanimously approved three ordinances setting tax rates for motor vehicles and watercraft, a franchise tax on eligible bank deposits and the city's real and personal property rate for 2025.
Elizabethtown 'The Elizabethtown City Council on Sept. 22 unanimously approved three ordinances that set the city's tax rates for motor vehicles and watercraft, impose a franchise tax on eligible bank deposits and set the 2025 ad valorem rate for real and tangible personal property.
The council approved a second reading of the motor vehicle and watercraft ordinance that levies an ad valorem tax of 11.6 cents per $100 of assessed valuation, to take effect Jan. 1, 2026. The ordinance says revenue from the tax will be used to pay salaries, street repairs and maintenance, lighting, fire and police operations and other lawful city demands; the Hardin County Clerk is named as collector.
The council also adopted a franchise tax ordinance imposing a 0.025% tax on eligible deposits held by financial institutions…
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