HomeMy WebLinkAbout92-10-4854ORDINANCE NO. 92-10-_-/-Ss�
AN ORDINANCE FIXING THE LEVIES AND RATES OF TAXATION
ON ALL PROPERTY IN THE CITY OF PADUCAH, KENTUCKY, SUBJECT TO
TAXATION FOR MUNICIPAL PURPOSES AND FOR SCHOOL PURPOSES FOR THE
PERIOD FROM JULY 1, 1992 THROUGH JUNE 30, 1993, WITH THE
PURPOSES OF SAID TAXES THEREUNDER DEFINED \,
BE IT ORDAINED BY THE CITY OF PADUCAH, KENTUCKY: V
SECTION 1. There is hereby levied for the period
from July 1, 1992 through June 30, 1993, upon all taxable real
property within the City of Paducah, Kentucky, subject to
taxation for municipal purposes, an ad valorem tax of
Forty-five and 2/10 cents ($0.452) upon each one hundred
dollars ($100.00) assessed valuation of said property, pursuant
to Section 157 of the State Constitution, to defray the cost of
maintaining and administering the government of the City of
Paducah for said period, exclusive of the levies hereinafter
mentioned and defined, and the proceeds of said tax levy shall
be paid into the General Fund of the City.
SECTION 2. There is hereby levied for the period
from July 1, 1992 through June 30, 1993, upon all taxable
personal property within the City of Paducah, Kentucky, subject
to taxation for municipal purposes, an ad valorem tax of
Forty-nine cents ($0.490) upon each one hundred dollars
($100.00) assessed valuation of said property, pursuant to
Section 157 of the State Constitution, to defray the cost of
maintaining and administering the government of the City of
Paducah for said period, exclusive of the levies hereinafter
mentioned and defined, and the proceeds of said tax levy shall
be paid into the General Fund of the City.
SECTION 3. There is hereby levied for said period
an ad valorem tax of Twenty cents ($0.200) upon each one
hundred dollars ($100.00) of the taxable value of the shares of
stock of State Banks and Trust Companies incorporated under the
laws of this Commonwealth and doing business in the City of
Paducah, and the same tax is also hereby levied upon the shares
of stock of National Banks doing business within the City.
SECTION 4. All taxes levied by Sections 1, 2 and 3,
of this ordinance are necessary and required in order to
provide revenue to meet the requirements of the budget ordi-
nance adopted by the Board of Commissioners, and the proceeds
of such tax levies and all other revenue of the City not
specifically allocated to other purposes shall be deposited
into the General Fund of the City to be expended as provided in
the budget ordinance for the period from July 1, 1992 through
June 30, 1993.
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SECTION 5. There is also hereby levied for said
period upon each one hundred dollars ($100.00) assessed
valuation of said taxable real property a special ad valorem
tax of One and 5/10 cents ($0.015) to be paid into and to
become a part of the Appointive Employees' Pension Fund, which
fund shall be segregated and set apart for the purposes defined
in KRS 90.400 and the City Civil Service Ordinance adopted on
December 2, 1947, as amended.
SECTION 6. There is also hereby levied for said
period upon each one hundred dollars ($100.00) assessed
valuation of said taxable personal property a special ad
valorem tax of One and 5/10 cents ($0.015) to be paid into and
to become a part of the Appointive Employees' Pension Fund,
which fund shall be segregated and set apart for the purposes
defined in KRS 90.400 and the City Civil Service Ordinance
adopted on December 2, 1947, as amended.
SECTION 7. There is also hereby levied for said
period upon each one hundred dollars ($100.00) assessed
valuation of all real property within the city, subject to
taxation for general municipal purposes, an ad valorem tax of
four and 9/10 cents ($0.049) for the purpose of maintaining and
operating the Public Library, pursuant to the provisions of KRS
173.360, and the proceeds of said tax levy shall be paid to
the Board of Trustees of the Public Library.
SECTION 8. There is also hereby levied for said
period upon each one hundred dollars ($100.00) assessed
valuation of all personal property within the city, subject to
taxation for general municipal purposes, an ad valorem tax of
Five cents ($0.050) for the purpose of maintaining and
operating the Public Library, pursuant to the provisions of KRS
173.360, and the proceeds of said tax levy shall be paid to the
Board of Trustees of the Public Library.
SECTION 9. There is hereby further levied an ad
valorem tax of Three and 1/10 cents ($0.031) on each one
hundred dollars ($100.00) of assessed valuation of all real
property subject to taxation for school purposes in said City
for the period from July 1, 1992 through June 30, 1993, for the
purpose of aiding, assisting and maintaining Paducah Junior
College, which tax shall be and the same is hereby declared to
be a tax for school purposes.
SECTION 10. There is hereby further levied an ad
valorem tax of Three and 4/10 cents ($0.034) on each one
hundred dollars ($100.00) of assessed valuation of all personal
property subject to taxation for school purposes in said City
for the period from July 1, 1992 through June 30, 1993, for the
purpose of aiding, assisting and maintaining Paducah Junior
College, which tax shall be and the same is hereby declared to
be a tax for school purposes.
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SECTION 11. The Board of Education of the City of
Paducah, pursuant to the authority vested in it under its
charter and under the laws of.the Commonwealth of Kentucky has
adopted a resolution and budget levying an ad valorem tax on
all real property in said city subject to taxation for school
purposes. Pursuant to said resolution, budget and levy the
following taxes for the period from July 1, 1992 through June
30, 1993, an ad valorem tax of Fifty-nine and 1/10 cents
($0.591), on each one hundred dollars ($100.00) assessed
valuation of all real property subject to taxation for school
purposes in the City of Paducah for the support and maintenance
of the public schools of said City shall be collected by the
City for the Board of Education.
SECTION 12. The Board of Education of the City of
Paducah, pursuant to the authority vested in it under its
charter and under the laws of the Commonwealth of Kentucky, has
adopted a resolution and budget levying an ad valorem tax on
all personal property in said city subject to taxation for
school purposes. Pursuant to said resolution, budget and levy
the following taxes for the period from July 1, 1992 through
June 30, 1993, an ad valorem tax of Fifty-nine and 1/10 cents
($0.591) on each one hundred dollars ($100.00) assessed
valuation of all personal property subject to taxation for
school purposes in the City of Paducah for the support and
maintenance of the public schools of said City shall be
collected by the City for the Board of Education.
SECTION 13. The taxies levied under this ordinance
are summarized as follows:
PURPOSE RATE
PER $100.00
General Fund of the City
Real Property
$0.452
Personal Property
$0.490
Other Municipal Purposes:
Public Library
Real Estate
$0.049
Personal Property
$0.050
Appointive Employees' Pension Fund
Real Estate
$0.015
Personal Property
$0.015
SCHOOL PURPOSES:
Paducah Junior College
Real Estate
$0.031
Personal Property
$0.034
Total Tax Rate per $100 - real property
$0.547
Total Tax Rate per $100 - personal property
$0.589
Special Levies for General Fund:
Stocks of Banks and Trust Companies
$0.200
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SECTION 14. The City of Paducah shall collect the
following taxes for the Board of Education:
Public Schools - General Fund & FSPK Property
Real Property $0.591
Personal Property $0.591
SECTION 15. The provisions of this ordinance are
severable. If any provision, section, paragraph, sentence or
part thereof shall be held unconstitutional or invalid, such
decision shall not affect or impair the remainder of this
ordinance, it being the legislative intent to ordain and enact
each provision, section, paragraph, sentence and part thereof
separately and independent of each other.
SECTION 16. Property taxes levied herein shall be
due and payable in the following manner:
The first half payment shall be due on November 1,
1992, and shall be payable without penalty and
interest until November 30, 1992.
The second half payment shall be due on April 1,
1993, and shall be payable without penalty and inter-
est until April 30, 1993.
SECTION 17 This ordinance shall be read on two
separate days and will become effective upon publication
pursuant to KRS Chapter 424.
ATTEST:
Cit Jerk
Introduced by the Board of Commissioners October 13, 1992
Adopted by the Board of Commissioners October_, 1992
Recorded by Lenita Smith, City Clerk, October, 1992
Published by The Paducah Sun October, 1992
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