TITLE
An Ordinance levying ad valorem taxes for municipal purposes for the fiscal year July 1, 2016 through June 30, 2017, on the assessed value of all taxable property within the taxing jurisdictions of the Lexington-Fayette Urban County Government (all taxes on each $100 of assessed valuation as of the January 1, 2016 assessment date), as follows: General Services District, $.0800 on real property, including real property of public service companies, $.0915 on personal property, including personal property of public service companies, noncommercial aircraft, and noncommercial watercraft, $.1500 on insurance capital, $.0150 on tobacco in storage, and $.0450 on agricultural products in storage; Full Urban or Partial Urban Services Districts based on urban services available on real property, including real property of public service companies, $.1431 for Refuse Collection, $.0210 for Street Lights, $.0097 for Street Cleaning, $.0920 on insurance capital, $.0150 on tobacco in storage, $.0450 on agricultural products in storage; abandoned urban property $1.00; and levying an ad valorem tax for municipal purposes at the rate of $.0880 on each $100.00 of assessed value on all motor vehicles and watercraft within the taxing jurisdiction of the Lexington-Fayette Urban County Government as of the January 1, 2017 assessment date. [Div. of Budgeting, McGee] Public Hearing on August 30, 2016 at 5:00 p.m.
SUMMARY
WHEREAS, pursuant to KRS 67A.850 and Charter Section 8.06 it is necessary to levy ad valorem taxes on all taxable property, other than motor vehicles and watercraft, within the taxing jurisdiction of the Lexington-Fayette Urban County Government as of the January 1, 2016 assessment date; and
WHEREAS, pursuant to KRS 132.0225 if a taxing district fails to establish a final tax rate within forty-five (45) days of certification by the Kentucky Revenue Cabinet of the assessment, the taxing district shall be required to use the compensating tax rate for that year's property tax bills; and
WHEREAS, pursuant to KRS 132.487 it is necessary to levy an ad valorem tax on all motor vehicles and watercraft within the taxing jurisdiction of the Lexington-Fayette Urban County Government as of the January 1, 2017 assessment date by no later than September 1, 2016;
NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE LEXINGTON-FAYETTE URBAN COUNTY GOVERNMENT:
Section 1 - That for the purposes of support of the General Services District and the payment of its debts and expenses for the Fiscal Year July 1, 2016 through June 30, 2017, there be and hereby are levied ad valorem taxes on each One Hundred Dollars ($100.00) of the assessed valuation of all taxable property within the General Services District taxing jurisdiction of the Lexington-Fayette Urban County Government as of the January 1, 2016 assessment date, as follows:
a. Real Property, including Real Property of
Public Service Companies (on the
Department of Revenue assessed valuation):
General Services District Fund $.0800
b. Personal Property, including Personal
Property of Public Service Companies,
Noncommercial Aircraft, and Noncommercial
Watercraft (on the Department of
Revenue assessed valuation):
General Services District Fund $.0915
c. Insurance Capital $.1500
d. Tobacco in Storage $.0150
e. Agricultural Products in Storage $.0450
Section 2 - That for the purpose of support of the Urban Services Districts and the payment of their debts and expenses for the Fiscal Year July 1, 2016 through June 30, 2017, based upon urban services available, there be and hereby are levied ad valorem taxes on each One Hundred Dollars ($100.00) of the assessed valuation of all taxable property within the Full Urban or Partial Urban Services Districts of the Lexington-Fayette Urban County Government as of the January 1, 2016 assessment date, as follows:
a. Real Property, including Real Property
of Public Service Companies (on the
Department of Revenue assessed valuation):
1. Refuse Collection $.1431
2. Street Lights $.0210
3. Street Cleaning $.0097
b. Insurance Capital $.0920
c. Tobacco in Storage $.0150
d. Agricultural Products in Storage $.0450
Section 3 - That pursuant to KRS 132.012 and Section 7-40 of the Code of Ordinances, Lexington-Fayette Urban County Government, there be and hereby is levied an additional ad valorem tax of $1.00 on each One Hundred Dollars ($100.00) of the assessed valuation of all taxable property which has been determined to be abandoned urban property pursuant to the statute and Code of Ordinances as of the January 1, 2016 assessment date, but in no instance shall the total tax on such properties exceed the maximum rate allowable by law.
Section 4 - That for the purposes of support of the General Services District and the payment of its debts and expenses, there be and hereby is levied an ad valorem tax at the rate of $.0880 on each $100.00 of assessed value on all motor vehicles and watercraft within the General Services District taxing jurisdiction of the Lexington-Fayette Urban County Government as of the January 1, 2017 assessment date.
Section 5 - That the preamble to this Ordinance be and the same is incorporated herein by reference the same as if set out in full.
Section 6 - That the Clerk of the Urban County Council be and hereby is directed to forward a copy of this Ordinance, along with an appropriate cover letter, to Department of Revenue, Office of Property Valuation, Attn: David Gordon, Executive Director, 501 High Street, 4th Floor, Station #32, Frankfort, Kentucky 40601.
Section 7 - That this Ordinance shall become effective on the date of its passage.
Body
WHEREAS, pursuant to KRS 67A.850 and Charter Section 8.06 it is necessary to levy ad valorem taxes on all taxable property, other than motor vehicles and watercraft, within the taxing jurisdiction of the Lexington-Fayette Urban County Government as of the January 1, 2016 assessment date; and
WHEREAS, pursuant to KRS 132.0225 if a taxing district fails to establish a final tax rate within forty-five (45) days of certification by the Kentucky Revenue Cabinet of the assessment, the taxing district shall be required to use the compensating tax rate for that year's property tax bills; and
WHEREAS, pursuant to KRS 132.487 it is necessary to levy an ad valorem tax on all motor vehicles and watercraft within the taxing jurisdiction of the Lexington-Fayette Urban County Government as of the January 1, 2017 assessment date by no later than September 1, 2016;
NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE LEXINGTON-FAYETTE URBAN COUNTY GOVERNMENT:
Section 1 - That for the purposes of support of the General Services District and the payment of its debts and expenses for the Fiscal Year July 1, 2016 through June 30, 2017, there be and hereby are levied ad valorem taxes on each One Hundred Dollars ($100.00) of the assessed valuation of all taxable property within the General Services District taxing jurisdiction of the Lexington-Fayette Urban County Government as of the January 1, 2016 assessment date, as follows:
a. Real Property, including Real Property of
Public Service Companies (on the
Department of Revenue assessed valuation):
General Services District Fund $.0800
b. Personal Property, including Personal
Property of Public Service Companies,
Noncommercial Aircraft, and Noncommercial
Watercraft (on the Department of
Revenue assessed valuation):
General Services District Fund $.0915
c. Insurance Capital $.1500
d. Tobacco in Storage $.0150
e. Agricultural Products in Storage $.0450
Section 2 - That for the purpose of support of the Urban Services Districts and the payment of their debts and expenses for the Fiscal Year July 1, 2016 through June 30, 2017, based upon urban services available, there be and hereby are levied ad valorem taxes on each One Hundred Dollars ($100.00) of the assessed valuation of all taxable property within the Full Urban or Partial Urban Services Districts of the Lexington-Fayette Urban County Government as of the January 1, 2016 assessment date, as follows:
a. Real Property, including Real Property
of Public Service Companies (on the
Department of Revenue assessed valuation):
1. Refuse Collection $.1431
2. Street Lights $.0210
3. Street Cleaning $.0097
b. Insurance Capital $.0920
c. Tobacco in Storage $.0150
d. Agricultural Products in Storage $.0450
Section 3 - That pursuant to KRS 132.012 and Section 7-40 of the Code of Ordinances, Lexington-Fayette Urban County Government, there be and hereby is levied an additional ad valorem tax of $1.00 on each One Hundred Dollars ($100.00) of the assessed valuation of all taxable property which has been determined to be abandoned urban property pursuant to the statute and Code of Ordinances as of the January 1, 2016 assessment date, but in no instance shall the total tax on such properties exceed the maximum rate allowable by law.
Section 4 - That for the purposes of support of the General Services District and the payment of its debts and expenses, there be and hereby is levied an ad valorem tax at the rate of $.0880 on each $100.00 of assessed value on all motor vehicles and watercraft within the General Services District taxing jurisdiction of the Lexington-Fayette Urban County Government as of the January 1, 2017 assessment date.
Section 5 - That the preamble to this Ordinance be and the same is incorporated herein by reference the same as if set out in full.
Section 6 - That the Clerk of the Urban County Council be and hereby is directed to forward a copy of this Ordinance, along with an appropriate cover letter, to Department of Revenue, Office of Property Valuation, Attn: David Gordon, Executive Director, 501 High Street, 4th Floor, Station #32, Frankfort, Kentucky 40601.
Section 7 - That this Ordinance shall become effective on the date of its passage.
PASSED URBAN COUNTY COUNCIL:
______________________________
MAYOR
ATTEST:
________________________________
CLERK OF URBAN COUNTY COUNCIL