Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Taxation topic
No spam. Unsubscribe anytime.
Fort Thomas council approves 2024 tax-rate ordinance
Summary
The Fort Thomas City Council approved Ordinance No. 0082024 setting the 2024 tax rate at $3.48 per $1,000 of assessed value in a roll-call vote; officials said assessment increases produced modest additional revenue while the nominal rate remained unchanged.
The Fort Thomas City Council approved Ordinance No. 0082024 on Sept. 16, setting the city’s 2024 tax rate at $3.48 per $1,000 of assessed valuation.
Council discussion noted that the council kept the nominal tax rate steady while property assessments rose, producing additional revenue. During the meeting a speaker read the rate aloud as “$3.48 per thousand dollars evaluation,” and members moved and seconded the ordinance for final adoption.
A roll-call vote was held; the meeting transcript records members answering “aye” as the clerk called names, and the motion carried. City staff explained the difference between the compensating rate and the adopted flat rate, saying the adopted approach preserved the rate while resulting assessment increases raised collections.
The ordinance specifies the levy, collection and related tax procedures for the city for 2024. City staff said they will begin printing and mailing tax bills following council approval.
