Hodgenville City Council voted Monday to increase the tax rate.
Mayor Kenny DeVore said property assessments are down “quite a bit” from last year. Some new homes were built, but existing ones lost some of their value.
In order to bring in the same revenue as last year, the rate would need to be raised from .127 (12.7 cents) per $100 assessed valuation of taxable real property and tangible personal property, to .132 (13.2 cents) per $100.
The rate will bring in about $425 more to the City than last year, said DeVore.