Commissioners discuss Paducah property tax rates for 2024

The Paducah Board of Commissioners set proposed real estate and personal property tax rates for the 2024 fiscal year at its Tuesday meeting. Prior to that, a property tax levy public hearing took place.

The city’s real estate tax levy is 25.6 cents per $100 assessed value, slightly less than last year’s rate of 26.5 cents per $100 of assessed value. 

The City’s Compensating Rate, which keeps revenue the same as last year, is 24.7 cents per $100 assessed value. Kentucky Revised Statutes allow cities to raise the rate no higher than 4 percent of the compensating rate. Since the City’s proposed tax levy of 25.6 cents is higher than the compensating rate, a public hearing was required.

Commissioners are expected to have a final reading of the ordinance later this month.

A Municipal Order was approved, authorizing acceptance of the Federal Emergency Management Authority's Port Security Grant of $543,750. The funds will help purchase a fire boat for water-based emergency situations.

Also approved was a funding agreement between the city city and the Paducah-McCracken County Riverport Authority providing $100,000. The Riverport had been awarded a $3.32 million Small Projects at Small Ports grant for its Bulk Yard Revitalization and Expansion Project. The City’s commitment will fund a portion of the grant’s required match.

Also approved was a Municipal Order authorizing a contract for services between the Barkley Regional Airport Authority and the City providing $120,000 to support the airport’s operations.

Another ordinance was introduced to amend the budget, as related to the payoff of the 2013B general obligation bond, due to the sale of the former Teletech building at Commerce Park.

Director of Public Works Chris Yarber highlighted benefits of the GPS system installed on the Solid Waste Division’s refuse trucks. The Division earlier this year began using "Routeware." The hope was to improve routes, operational efficiencies, and safety. Each truck's onboard computer and camera allow the driver to log each collection and any obstructions to solid waste collection. 
 
Mayor George Bray commended the Paducah Ambassadors for their combined 7,120 hours of service in the past year. He also noted the 50th anniversary of Paducah Cooperative Ministries.