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Committee discusses 2025 tax-rate options and ties rate to capital-priority planning
Summary
Finance committee members reviewed a possible 2025 tax-rate increase, discussed capital project prioritization and reserves policy, and planned a joint committee meeting to align the budget process and project timelines.
Fort Thomas’ finance committee discussed options for the 2025 tax rate, capital project prioritization and a possible regular cadence for finance briefings as staff prepares a longer-term capital plan.
Staff said a compensating rate plus 4 cents (“comp plus 4”) would increase revenue by about $250,000 to $300,000. “The comp plus 4 would increase about $250,000 to $300,000 in revenue for the following year,” Matt (city staff) said. He said staff will provide more detailed numbers and a 30-year capital plan for committee review.
Committee members emphasized that any…
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