The Middlesboro City Council held the first reading to establish the Ad Valorem tax levy on personal and real property for the year 2015 during their meeting on Tuesday.
The tax levy on personal property is to be set at 23.20 cents per $100 of assessed value. The levy on real property is to be set at 6.9 cents per $100 of assessed value.
The ordinance states taxes collected are for city purposes of “defraying the necessary expenses for general operation of the city government and services in the city of Middlesboro, including payment of salaries and all operating expenses of the police and fire departments, clerk, collector, assessor, city attorney, treasurer, mayor and councilman and all other employees of the city.”
The ordinance states there is a bank franchise and local deposit tax at the rate of 0.025 percent that will be paid into the general fund.
The council has to have a second reading before the tax levy is officially set.
The council also approved a resolution for “Preserve America” and authorized Mayor Bill Kelley to take any future action relating to the resolution.
Within the letter from Discover Downtown Middlesboro, it states the city must submit a community application seeking designation as a “Preserve America” community. If accepted, DDM will be able to apply for competitive grants if and when funding is available.
Kelley said the city has no financial obligation related to the matter.
“Getting this designation would be a huge honor for the hard work so many people have done to protect and preserve our heritage in Middlesboro,” said DDM President Keith Nagle in the letter.
Other business enacted during the meeting included:
• Entrance of reports;
• Entrance of city bills paid;
• Approval of minutes from special-called meeting;
• Approval of minutes from previous regular meeting.
Anthony Cloud can be reached at 606-302-9090 or on Twitter @AnthonyCloudMDN.