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Staff recommends small real-estate tax-rate cut to offset assessment growth; court to consider at August meeting
Summary
Finance staff presented a draft property-tax-rate adjustment after a multi-year run-up in assessed values; staff recommended reducing the real-estate rate to 0.0528 to limit year-to-year revenue growth to about 3.8 percent and keep the county’s property-tax burden low relative to peers.
County finance staff presented a draft property-tax-rate recommendation to the Scott County Fiscal Court on Aug. 1 in response to a multi-year increase in assessed real-estate values.
Michelle Ray (presenting staff) summarized assessment growth from 2020 through 2025, noting that assessed real-estate values rose from about $4.9 billion in 2020 to approximately $7.2 billion in 2025. To mitigate year-to-year revenue jumps driven by assessment growth, Ray recommended lowering the…
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