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Property Tax Rate Certification

Each year beginning in July, KDLA will provide library districts with taxing authority with two statutorily-required tax rates - the “compensating rate” [KRS 132.010 (6)] and the “4% rate” [KRS 132.023].  These rates are based on the property assessment figures provided by the county PVA to the KY Revenue Cabinet and are issued in the order they are received at KDLA.  In addition, KDLA will provide, by e-mail request, alternate rates based on criteria that you provide in your request.

The Board will decide on the tax rate needed to produce the revenue required to fund the operating expenses as determined by the annual budget and to provide for future plans.  The Board will carefully examine the revenue needs of the library and then select a rate which meets the community’s library needs without placing undue burden on taxpayers.

Once this rate is determined and set, the Property Tax Rate Certification form sent to the library by KDLA will be completed and filed with KDLA on the KDLA-supplied form.  A copy will also be kept on file at the library.

The adopted tax rate must be set within 45 days of the Kentucky Revenue Cabinet’s certification and by September 15th at the latest.  The adopted tax rate must be presented to the Fiscal Court in written form at least 30 days before the tax rate will be effective, and also by testimony at an open meeting of the governing body (usually the fiscal court) at least 10 days prior to the date that the tax is effective.  [KRS 65A.100]

If a rate that exceeds the compensating rate is chosen, the library must advertise and hold a public hearing at the fiscal court immediately prior to a regularly scheduled fiscal court meeting to inform the public of the proposed rate and anticipated income.  All citizens who wish to be heard will be allowed time for an oral testimony.  The Special Purpose Governmental Entity may set reasonable time limits on these testimonies [KRS 132.023].


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