City residents will soon receive their tax bills in the mail.
According to city clerk Charleen McIlvain, tax bills will be sent to residents in a couple weeks.
“You can compare the city to peoples’ households...” McIlvain said Tuesday morning. “The cost of service is rising a lot faster than revenues...”
Last month, the Cynthiana City Commission approved and set the tax rates for this year.
Commissioners voted for a real and tangible property tax that will generate four percent additional revenue - at 16 cents per $100 of assessed value, which will generate an estimated $393,510.
A compensating rate of 15.4 cents would have generated about the same amount of revenue as last year’s rate of 14.8 cents, which generated $363,997.
The personal and mixed property tax was set at 21.20 cents per $100 of assessed value.
The motor vehicle tax rate was set at 16 cents per $100 of assessed value.
For more on this story, see this week's Cynthiana Democrat.