Erlanger Council Approves Tax Rate Reduction, Business Incentives
The Erlanger city council approved a reduction in tax rates related to real estate and personal property.
Council set the property tax rate at 0.317 per $100 of assessed value, and personal property tax (other than motor vehicles) at 0.554 per $100 assessed value.
Mayor Jessica Fette congratulated the city on lowering taxes for the fifth straight year.
Council also approved the annexation of nearly eight acres of land on the east side of Turkeyfoot Road where the Drees Company plans to build homes.
Council listened to the first reading of an ordinance providing for a credit of its occupational license fee for new employees as part of an economic development project by CCBCC Operations, LLC, under the Kentucky Business Investment program.
CCBCC Operations has expended approximately $12.4 million on its new distribution center at 680 Erlanger Road, where it aims to create 303 full-time jobs for Kentucky residents. The city will have the opportunity to support a 1-percent credit of its occupational license fees for a ten-year period. This local credit will cause a 3-percent Kentucky personal income tax credit on such new jobs under KBI and will result in a 4-percent credit overall.
Another ordinance was read which provides for a credit of its occupational license fee for new employees as part of an economic development project by ABB/Con-Cise Optical group, LLC, which will provide approximately 200 full-time Kentucky resident jobs.
The city will support a 0.5-percent credit of Occupational License fees for a ten-year period, and this local credit will cause a 1.5-percent Kentucky personal income tax credit on such new jobs under KBI and will result in a 2-percent credit overall.
John and Joanie Dunhoft were honored at the meeting for receiving the United Way Do-Gooder award. Mayor Fette read a proclamation declaring September 4 to be their day in the city of Erlanger. John Dunhoft was a council member for 24 years.
Written by Patricia A. Scheyer, RCN contributor