Lincoln lowers tax rate, raises fee

September 10, 2003|EMILY BURTON

STANFORD - In the face of a struggling state economy, Lincoln County magistrates lowered the personal property tax rate Tuesday while increasing the fee for electrical inspections to better coincide with area rates.

The personal property tax, which applies to store inventory and office equipment, was lowered by .06 percent, saving taxpayers about .6 of a cent per $100 of property.

"I make a motion to lower it because I think we need a break," said Magistrate Bill Dyehouse.

Judge-Executive Ronald "Buckwheat" Gilbert said the decrease won't affect many taxpayers. "Very few people turn it in, mostly banks," said Gilbert.

Magistrates were hesitant to vote on the decrease before knowing the exact amount of revenue that would be lost. "I don't have any problems lowering it, but if it's $10,000, $15,000, that's money," said Magistrate Terry Wilcher.


County Treasurer Teresa Padgett estimated the revenue loss to be about $10,000. Magistrates can vote to increase the tax next fiscal year.

A $10 increase in electrical inspection fees also was approved Tuesday to help offset the rising costs of gasoline and state certification documents. County electrical inspector Tim Siler said the former county rate of $35 was not comparable to Stanford's $45 charge and was not sufficiently covering costs.

"What we make is what we make. Gas is up, vehicles are up. We don't get anything from the state ... They even charge us for our paperwork now," said Siler.

"Our expenses went up quite a bit this year," said electrical inspector Doug Neal. "Licenses and schooling are more expensive now."

On average, the hike could cost builders an additional $30 per house, depending on the number of trips to the site that inspectors make. "A mobile home is one, typically. A house, most times, is three trips," said Siler.

While the exact number of inspections per month fluctuates, Siler said he expects the raise to increase revenue by about $30-$40 a week.

Central Kentucky News Articles