HARRODSBURG - Mercer County's property tax rates will actually decline slightly for 2004-05, but the amount of revenue generated will rise by $42,444.
Fiscal Court set the new tax rates Tuesday, and Judge-Executive John Trisler said the new rate - 8.1 percent as opposed to last year's 8.2 percent - will generate more money because of the amount of new property and reassessment of old property.
"It's not a huge benefit, but it does help out," said Trisler.
The motor vehicle and watercraft tax rate, set by the state, will be 9.2 percent, and the personal property rate will be 9.2 percent. That rate increased, Trisler said, the maximum as allowed by state law without requiring a vote. A public hearing will be held about the rate prior to the next court meeting, which will be Aug. 31.
The court also approved agreements necessary to accept a Community Development Block Grant from the state for $354,000 to build an adult daycare center at the Senior Citizens Center. The daycare will be for adults who require some attendant supervision, Trisler said. The project will include a $75,000 contribution from the Senior Citizens Center.