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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 within the city for the 2025 tax year, as defined in KRS Chapter 136. The ordinance sets payment and penalty procedures and authorizes the mayor or the mayor's designee to take steps necessary to implement the ordinance.
Finally, the council approved an ordinance setting the ad valorem tax rate for real estate and tangible personal property at 10.7 cents per $100 of assessed valuation, with payment and penalty dates specified in the ordinance text. The ordinance states taxes are due Dec. 1, 2025; tax bills not paid by Dec. 31, 2025, will be declared delinquent and the ordinance describes penalty and discount provisions, including a 2% discount referenced in the ordinance (the text reads '2/30/2020' for the discount date as read during the meeting).
Why it matters: The measures update and fix the city's revenue rules for property and vehicle taxation for the coming fiscal year and adjust how certain financial institutions will be taxed, giving the city formal authority to collect the levies and to publish and implement required steps.
Votes at a glance
- Second reading and adoption: Ordinance (motor vehicles and watercraft) ' levies 11.6 cents per $100; effective Jan. 1, 2026. Vote: motion carried, 6-0 (unanimous among present council members).
- Adoption: Ordinance (franchise tax on eligible deposits) ' imposes a 0.025% franchise tax for the 2025 tax year, referencing KRS Chapter 136. Vote: unanimous.
- Second reading and adoption: Ordinance (real and tangible personal property) ' levies 10.7 cents per $100; taxes due Dec. 1, 2025; delinquency/penalty provisions specified in ordinance text. Vote: unanimous.
What the ordinances say (key details)
- Motor vehicles/watercraft: 11.6 cents per $100 assessed valuation; collected by Hardin County Clerk; effective Jan. 1, 2026.
- Franchise tax (financial institutions): 0.025% on eligible deposits for the 2025 tax year; cites KRS Chapter 136 for definitions and collection procedure.
- Real and personal property: 10.7 cents per $100 assessed valuation; due Dec. 1, 2025; delinquency and penalty schedule spelled out in the ordinance read at the meeting.
What council members said: The council offered little debate on the measures; after votes the presiding officer announced each motion carried and moved to the next agenda item.
Next steps: The ordinances direct the mayor or the mayor's designee to take steps necessary for publication and implementation as required by law.
