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Five-county East Park interlocal amendment approved; adds tangible-property taxes to revenue share
Summary
The court approved a second amendment to the East Park interlocal agreement establishing that tangible property taxes will be included in the revenue pool and confirming equal 20% shares to each of five counties after East Park retains the first $50,000.
The Boyd County Fiscal Court voted June 26 to sign a second amendment to the East Park interlocal agreement that expands the agreement’s revenue definition to include tangible property taxes.
Hunter briefed the court on the change, noting that under the revised formula East Park will retain the first $50,000 in tax receipts and then split remaining revenues equally among the five participating counties (Boyd, Carter, Elliott, Greenup and Lawrence), each receiving 20 percent. The amendment changes only a single element of the original 2023 agreement — the inclusion of tangible property taxes — and will require each participating county to sign before the amendment takes final effect.
Court members said they support continued regional cooperation to attract jobs and economic growth in East Park; one speaker highlighted a recent ribbon-cutting for a pipe-fabrication shop that will add local employment.
Next steps: Carter County is scheduled to vote next week; the judge executive said the court will proceed with signing now and work through remaining technical items with partner counties.
