The Clark County Library Board of Trustees approved the 2012-2013 fiscal year tax rate at a special meeting Wednesday.
The board adopted the statutory compensating rate of 7.1 cents for every $100 of property valuation. The rate is a .3-cent increase from 2011-2012, when the board adopted a custom rate set by the Kentucky Department of Libraries and Archives in an attempt to ease the burden on taxpayers.
The board also had the option of a statutory 4 percent increase, which would have set rates at 7.2 percent, but opted to go with the slightly lower rate.
“I thank you for undertaking that in a hard economic situation,” Clark County Public Library Director Julie Maruskin said to board members.
The compensating rate for personal property is down slightly from last year, dropping from 10.47 percent to 10.42 percent.
Rates are set by KDLA based on information on local property values from the Clark County PVA.
The higher rate should bring in $2.03 million, which Maruskin said would be sufficient to fund all planned programs for the year, and cover library expenses.
“That certainly falls within what we budgeted for and what we agreed upon as far as budget guidelines for this year,” Maruskin said.
Board members also elected officers for the new fiscal year. Officers are: Eddie Williams, chairman; Harry Enoch, vice chairman; Brenda Royse, treasurer; and Cindy Codell, secretary.
The Library Board meets the second Tuesday of every month at 4 p.m. in the library conference room.
Contact Rachel Gilliam at firstname.lastname@example.org.