BOWLING GREEN, Ky. (WBKO) -- Bowling Green City Commissioners are having their first reading of this year's recommended property tax rate.
(Photo: Madison Martin)
The city's chief financial officer says they will be recommending the same rate as last year's -- 20.5 cents per every $100 of assessment.
In prior years, the rate had sat at 20.6 cents.
The CFO says Bowling Green experienced 5.2 percent of actual real estate growth from 2018-2019.
This is only the first reading of the proposal, before it can be approved in its second reading next month.
"Once we get those rates set, then we can finalize getting our property tax bills out to the public and get those mailed out; and again, the due date is December 31st, which falls on a Tuesday this year, and if they're not paid by that date, then there are penalties and interest that apply immediately," said Katie Schaller-Ward, Chief Financial Officer for the City of Bowling Green.
The city collected about $9.9 million in the 2019 fiscal year, from personal and real estate property tax.
They're looking at $10.4 million in revenue for the next fiscal year.