- Special Sections
- Public Notices
Pewee Valley council members heard the first reading of a property tax rate Monday night that will allow punctual residents to receive a 10 percent discount on their taxes.
If the council passes the budget at its Aug. 4 meeting, the tax rate will be $.1440 per $100 assessed property, the same as last year.
The budget allows those who pay their property tax on time to receive a 10 percent discount. Tentatively the due date is Oct. 31, but could change based on how quickly the tax bills can be turned around.
Mayor Bob Rogers said the city can afford to give a 10 percent discount because the council voted to increase the city’s insurance premium tax rate from 5 percent to 10 percent in the last year, in anticipation of the county government redirecting taxes from households that currently pay to Pewee Valley but aren’t in the city limits. That redirection hasn’t happened yet.
“Next year we should finally have a handle on how much money we’re gonna lose to insurance premium tax,” Rogers said.
Council member Dick Filippini suggested lowering the tax rate instead of offering the discount, but Rogers said that will put the city in a difficult position next year after the county redirects much of the insurance premium tax the city currently receives.
“We don’t want to backstep on property taxes, because it’d take too long to catch back up,” Rogers said.