City commissioners voted unanimously to reduce the tax rate on real estate property. Bowling Green, Ky., has seen an estimated 270 million dollar growth in local property assessment since 2005. The lower rate is expected to bring in almost 7.1 million dollars.
"Because the value of our property has gone up to a greater rate than that we required, we are looking to reduce it to .255 cents per every 100 dollars of evaluation," Mayor Elaine Walker said.
Commissioners also tabled an issue that would create an almost four mile loop from Riverwalk Park to Sugar Square. Additional trails will link to the loop connecting Boatlanding Park and Hobson Grove and along Veterans Memorial Lane. Money for this project will come from the $300,000 set aside in this years budget for the Greenways Project. The issue will be discussed at at later date.
A dollar wise campaign presentation also stressed the importance of empowering citizens with fiinancial literacy. This just in time for Dollar Wise Week, which will run Sept. 24 - Sept. 30, 2006.