The City of Erlanger will hold a public hearing and perform a first reading for the city council’s proposed property tax rates for the 2023-2024 fiscal year tonight, beginning at 6:45 p.m. at the Erlanger City Building.
The proposed rates are as follows:
- Proposed real property tax rate: $0.248/$100 of property valuation
- Proposed personal property tax rate: $0.198/$100 of property valuation
The current rates are as follows:
- Current real property tax rate: $0.301/$100 of property valuation
- Current personal property tax rate: $0.296/$100 of property valuation
Although the proposed rates are a reduction from the preceding year’s rates, the city expects to bring in more revenue–$4,979,680.9 compared to last year’s $4,708,559.92–due to increased property valuation in the city.
The council will perform a second reading and cast a vote on the proposed tax rates at a special meeting next week. An exact date for the meeting has not yet been set.
Need a refresher on tax terminology and procedures? Read our tax explainer.