The Caneyville City Commission, on Monday, Aug. 10, approved the City of Caneyville’s property tax rates for the coming year.
The 2015 Property Tax Rate calculations were presented to the City Commission during its regular meeting on Aug. 10.
The 2015 Real Estate property assessment is $16,172,975, an increase from 2014, which saw a Real Estate assessment of $16,163,314 at a tax rate of 0.238.
To ensure that the City of Caneyville does not see negative earnings from taxation in the coming year, the City Commission approved a 4 percent rate increase on Real Estate.
This raises the Real Estate tax rate from 0.238 to 0.248.
As a result of the rate increase, the city’s estimated revenue from Real Estate property taxes in the coming year is $40,109, a $1,617 increase from 2014.
The 2015 Tangible property assessment is $2,171,475, a decrease from 2014, which saw a Tangible assessment of $2,297,547 at a rate of 0.3432.
The City Commission decided to maintain the 0.3432 rate through 2015, so there will be no change in Tangible property tax rates.
The city’s estimated revenue from Tangible property taxes in the coming year is $7,453, a $432 decrease from 2014.
In total, the City of Caneyville will see a $1,208 increase in revenue from property taxes in the coming year.
Because the City Commission approved the 4 percent rate increase on Real Estate property taxes, a public hearing will be held on Wednesday, Sept. 2 at 12 p.m., during which the first reading of the 2015 Property Tax ordinance will be held.
The second and final reading of the 2015 Property Tax ordinance will held during the regular, Sept. 14 Caneyville City Commission meeting, after which time the aforementioned property tax rates will officially go into effect.
In other business:
*The City Commission approved hiring Lindsey Construction to remove a portion of the old Caneyville school (the new wing built in the mid-1980s).
The City Commission advertised for bids for this project but received none, so it approached Lindsey Construction, who can do the work within a week to 10 days, starting either later this week or early next week.
*The City Commission approved paying up to $1,500 to John Allen to restore a number of concrete sidewalk slabs in front of the old Caneyville Graded and High School to their original positions.
City Commissioner Mike Geary said Allen offered to do the work for publicity, and, provided he is able to complete the job, he will charge the city only for materials (estimated to cost about $1,500).
If he is unable, Allen will not charge the city for the work, Geary said.
*Caneyville Water/Waste Superintendent Avery Flener advised the City Commission that the city’s water tanks will have to be inspected this year.
Reach Matt Lasley at 270-259-9622, ext. 2015.