City real estate taxes stay even; Personal tax rates drop

At its August 21 meeting, the Shelbyville City Council approved the first reading of an ordinance levying ad valorem property tax rates for the calendar year of 2008.

The tax rate proposed this year is 27.5 cents per $100.00 assessed real property. The rate is the same as last year, and is expected to produce about $1.9 million in revenue. Last year it produced just over $1.8 million.

The tax rate on personal property within the city will be reduced from 46.8 cents on each $100.00 of assessed value last year, to 43.1 cents this year.

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