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Jamestown clerk reads proposed ad valorem tax levy for fiscal 2024–25
Summary
The Jamestown City Council heard a reading of an ordinance proposing a 13.7¢ per $100 ad valorem rate for real and personal property and a 0.025% rate on financial-institution deposits for fiscal year 2024–25; councilors noted the levy is lower than before.
The Jamestown City Council had the ordinance proposing the city’s ad valorem tax levy for fiscal year 2024–25 read aloud by the clerk. The ordinance sets real and personal property at 13.7¢ per $100 of assessed value and applies a 0.025% tax on deposits held by financial institutions within the city’s jurisdiction.
The clerk read the ordinance provisions and deadlines, including a 2% discount for taxes paid before Dec. 31 and a 10% penalty for payments after Jan. 31, 2025, plus a $3 charge to cover the cost of publishing delinquent-tax notices in the local newspaper. "Real property ... shall be taxed at 13.7¢ per 100 of assessed value," the clerk said while reading the measure.
Council members reacted that the rate was "down," indicating a perceived reduction from prior levies. Committee member Desiree stated, "It's down," echoing other members’ brief comments that the overall levy had decreased.
The reading of the ordinance was informational on the record; the transcript does not record a subsequent formal vote or final adoption during the segment captured. The measure includes references to Kentucky statutes used to determine assessed valuation and the handling of financial-institution deposits.
If the council chooses to proceed, the ordinance would return on a later agenda for formal consideration and any required votes.
