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Treasurer warns Mayfield Board of revenue risks tied to House Bill 96 and a potential property sale
Summary
Treasurer told the Mayfield Board on June 28 that House Bill 96 has changed forecast filing deadlines and delayed tax receipts; a possible auction of a large Progressive Insurance campus could cost the district about $1.2 million in annual property-tax revenue.
At the June 28 meeting, the district treasurer presented a detailed budget forecast and urged caution, saying recent legislative changes and local property valuation activity could reduce projected operating revenues.
The treasurer recommended refiling the September forecast because House Bill 96 changed filing deadlines and the district had not yet collected major tax receipts that account for roughly 90% of operating revenue. "At…
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