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Public Hearing Notice

 
Posted on Tuesday July 28, 2020
 

 

City of Lexington

Notice of Public Hearing

 

A hearing will be held at 6:30 p.m. on August 11, 2020 at the City Hall Council Chambers located at 919 Franklin Avenue, Lexington, Missouri at which citizens may be heard on the property tax rates proposed to be set by the City of Lexington, Missouri.  The tax rates are set to produce the revenues, which the budget for the fiscal year beginning April 1, 2020 shows to be required from the property tax.  Each tax rate is determined by dividing the amount of revenue needed by the current assessed valuation.  The result is multiplied by 100 so the tax rate will be expressed in cents per $100 valuation.

 

Assessed Valuation                                               Current Tax                                                          Prior Tax

  (By Categories)                                                        Year                                                                     Year

                                                                                    2020                                                                    2019

 

Real Estate                                                            $ 36,931,468                                                              $ 33,992,633

Personal Property                                                 $ 10,484,155                                                              $ 10,758,791

Railroad and Utility                                                $      598,605                                                              $      537,781

 

Total                                                                       $ 48,014,228                                                              $ 45,289,205

 

 

The Following 2020 Tax Rates are Proposed

 

                                                                               

                                                                                  Estimated                               Proposed             

                                                                                Tax Revenues                        2020 Tax Rate       2019 Tax Rate

Fund                                                                             2020                                  (Per $100)       (Per $100)

 

General                                                                   $ 261,677.55                              $ .5450                    $ .5632

Park                                                                        $ 132,903.39                                 .2768                       .2841

Public Health                                                        $   70,917.02                                   .1477                       .1526

 

Total                                                                       $ 465,497.96                              $ .9695                    $1.0019

 

 

 

                                                                                                                City Council of Lexington

                                                                                                                Carla Ghisalberti, City Clerk

 

 

 

Insertion:  Wednesday, August 4, 2020