McCracken Fiscal Court passes insurance premium tax decrease

The McCracken County Fiscal Court passed an insurance premium tax decrease on Monday night.

The ordinance, passed unanimously, will lower the rate from 6.9 percent to 4.9 percent, and it will take effect on July 1st. The summary from the commission said the ability to look at and reduce the rate is the result of McCracken County being in a good position financially.

The measure would also set up a regular review of the rates, meaning they could be reduced further with continued positive financial footing.