The City of Cynthiana, Kentucky held a public hearing on September

10, 2003 at 4:00 P.M. at City Hall to receive comments from the public on the proposed 2003 tax rates on Real Property.    

City Clerk McIlvain read the following notice:

       According to KRS 132.027, the City of Cynthiana is required

       to hear comments from the public regarding the proposed 2003

       tax rates on Real Property.  Tax rates are per $100 assessed  

       valuation.

1.     The preceding year tax rate was .124 and produced

$241,344 in revenue.

2.     The proposed tax rate is .128 and is expected to produce

$252.513 in revenue.

3.     The compensating tax rate would be .124 and could be

expected to produce $244,622 in revenue.

4.     The revenue expected from new property is $1,017.

5.     The revenue expected from personal property is $42,232.

Additional revenue ($11,169) produced by the real property rate

of .128 is budgeted for General Governmental Purposes.

The Kentucky General Assembly has required publication of this

advertisement and the information contained herein.

Mayor Wells stated she would entertain any comments on the proposed tax rate.

Commissioner Doan stated that when the budget was put together for 2003-2004, it was based on the 4% increase in tax revenues.

There being no other comments, Mayor Wells closed the Public Hearing.