Property tax rate goes down

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Tax rates were set as follows: Real estate – 44.9 cents per $100 assessed value Tangibles – 44.9 cents per $100 assessed value (The 2009-10 rate was 46.3.) Motor vehicles – 55.2 cents per $100 assessed value Utility – 3 percent of receipts

By Linda Ireland

 LaRue County property owners will receive a break on school taxes next year.

At a special called meeting Aug. 30, the LaRue County School Board voted to adopt a rate of 44.9 cents per $100 assessed value on real estate and tangibles.

Last year’s rate was 45.2 cents per $100.

This is the fifth year in a row the board has taken the compensating rate or less for property taxes.

The compensating rate, when applied to current year’s property assessment, produces an amount of revenue equal to that produced in the preceding year.

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