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Shepherdsville introduces compensating ad valorem tax rate; council schedules special meeting to finalize
Summary
City staff presented three ordinances setting 2025 ad valorem rates: a compensating rate of 11.61¢ per $100 for real and personal property and a 12.5¢ rate for motor vehicles/watercraft. CFO Angie Milose explained the compensating-rate calculation; council will meet in a short special session to finalize notices to the county.
City financial staff presented the calculations behind the city’s 2025 ad valorem tax rates at the Aug. 26 Shepherdsville City Council meeting and the council scheduled a brief special meeting the following day to finalize adoption and transmission to the county.
City documents read into the record (ordinances 025026 and 025027) set a compensating rate of 11.61¢ per $100 of assessed value for both real property and tangible personal property. Ordinance 025028 keeps the motor vehicle and watercraft rate at 12.5¢ per $100.
"What they tried to do is...back into what the rate has to be this year to get the same amount of revenue as last year," Angie Milose, the city’s chief financial officer, said while presenting the Department of Local Government worksheet that produced the compensating rate. "So the 11.61 is just the compensating rate, and that's to get the same revenue as we got last year."
Council members discussed but declined to adopt the alternative option to increase revenue by up to 4% (which would raise the real-property rate to 12.07¢) without holding a public hearing. The council said it preferred to use growth in the tax base to lower the rate rather than raise revenue this year.
The council plans a short special meeting to finalize the ordinances and ensure the county receives the certified rates and notices so tax bills can be prepared. The mayor and finance staff said the administration will deliver amended budget ordinances for the sewer and general fund in the coming week.
