Sunday, August 19, 2012
After Kingdom City’s tax assessment declined this year, the Board of Trustees of the village has raised this year’s real estate and property tax rate a fraction of a cent that will produce only an extra $1,064 to the city.
City Clerk Curtis L. Warfield Jr. said the new combined real estate and property tax rate for Kingdom City residents is $0.2197 per $100 assessed valuation.
The 22-cent property tax, Warfield said, will produce only an estimated $19,064 for the city to use for services.
“We deliberately keep real estate and property taxes extremely low to attract people and businesses to the area. To finance city operations, we rely almost completely on the one and one-half cents total city sales tax in Kingdom City,” Warfield said.