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Property Tax is a tax levied on real property (land, buildings, and related improvements) and tangible property (business equipment and inventories) in the City of Bellevue. The rate for each is set by Council and tax bills based on the new rates are mailed in mid-October and are due by November 30th. The rate is determined by a specific formula using assessment data from the Campbell County Property Valuation Office and calculated by the Northern Kentucky Area Development District.
This year, the City of Bellevue is seeking to increase the revenue received from real and tangible property taxes by 4% as allowed by law (HB44). The tax rate will increase from .313 to 335 per $1,000 on all Real Property. If the new rates are enacted, revenue to the city will increase approximately $48,900 for the fiscal year 2017-18. This revenue will be used to offset the increasing costs of providing municipal services (Police, Fire, EMT, Snow Removal, etc) to Bellevue residents. It is important to know how this rate is calculated and the impact of the assessed value of our community is. Expressed a different way, the tax rates are the ratio of the amount the City is requesting divided by the total assessed value of the City.
|Numerator||Real Property Tax Revenue||$1,197,910|
|Denominator||Total Taxable Real Property||$370,870,480||.00335|
The State of Kentucky limits the amount of revenue that a City can receive from property tax assessments. Like other Cities, the City of Bellevue can only increase its property tax revenue above the Compensating Rate by 4% without a voter referendum. It is the City’s intent to increase its property tax revenue by 4% for the 2017-18 Fiscal Year and has followed the State of Kentucky defined procedure for the increase. In some conversations, this is known as “taking the 4%” It is important to note that this doesn’t necessarily translate to a 4% increase to all tax payers in the City on a year to year basis for reasons due to increases and decreases in the denominator of our equation.
Total Taxable property or property value is derived from several different sources:
|Less Homestead/Disability Exemptions||($20,692,100)|
|Less Fully Exempted||($19,865,790)|
|Less Other Adjustments||($0)|
|Public Service Assessment (CSX, Duke, etc)||$7,132,310|
PVA Assessment This dollar amount represents the Certified Real Estate assessment presented to the City by the Campbell County Property Valuation Office. It represents the total value of both commercial and residential real estate in Bellevue. This value fluctuates based on the PVA’s 4 year assessment cycle, property sale amount, owner requested reductions, and new real estate investment.
Homestead/Disability Exemptions (HEX/DEX) The PVA office provides two exemptions to assist elderly and disabled homeowners. The value of both exemptions is $37,600 and is subtracted from the assessed value of real property. For example, if property had an assessed value of $106,000. After the HEX/DEX exemption is applied, the property tax is assessed on $70,000.
Fully Exempted Government Owned Properties, Schools, Church/Religious property and Public Charities are all considered Fully Exempted.
Other Adjustments Other adjustments represent Tax Exonerations and Moratoriums granted in accordance to state constitution. The assessed value is frozen at a particular value for five years. At the conclusion of the five years, the property is assessed at its full value. There are no ‘Other’ adjustments for 2017
Public Service Companies Assessment Both Duke Energy and CSX property holdings are included in the assessment.
These five figures combined form the Total Taxable Real Property for the City of Bellevue. A history of property tax rates and values can be found HERE
It is important to note that the City of Bellevue has always “taken the 4%” revenue and reinvested the tax proceeds into the community in the form of better roads/streets, safer communities, promoting additional real estate development/improvements, and developing a sustainable community. These efforts, coupled with individual resident efforts of maintaining and improving their own properties have paid off. Since 2001, the assessed value of the City of Bellevue has nearly doubled. Please refer to Chart One – Bellevue Real Property Tax Rate – 2001 to Proposed 2017. This doubling of the tax rate ratio’s denominator has a stabilizing effect on the City’s Property Tax Rate.
While the City has consistently increasing its revenue 4% annually, it has historically spread this revenue across an increasing assessed value. The result is a stable tax rate. As the chart indicates, the lowest tax rate was .00232 per $1000 in 2008 and the highest was .00335 per $1,000 this year. In 2017-18, a resident with a $100,000 home in Bellevue will pay $335 in property taxes. This is an increase of about $22 over last year’s assessment of $313. The City continues to look for opportunity to increase the value of our community though reinvestment of the tax revenue provided by the property tax rate.
If you have any questions or thoughts, please add a comment in the reply section below
NOTICE OF PUBLIC HEARING
Pursuant to KRS 132.027, The City of Bellevue will hold its public hearing on the 7th day of September 2017 at 7:00 pm. The meeting will be held at 322 Van Voast Avenue, (the Callahan Community Center) for the purpose of hearing comments from the public regarding the institution of proposed tax rates for the 2017-2018 fiscal year.
The City of Bellevue proposes to exceed the compensating tax rate by levying a real property tax rate of .335 (per $100.00 of assessed value) and a personal property tax rate of .510 (per $100.00 of assessed value). This represents a 4% increase from the Compensating Rate. The additional revenue generated will be utilized for the following purposes: General Fund for governmental purposes.
In 2016, SD1 replaced two sections of a wastewater sewer pipe that runs under Riviera Drive, between Route 8 and Sixth Street. SD1 will begin the final phase and replace a third section of deteriorated pipe along Riviera Drive, near Bellevue Plaza, beginning Saturday, September 16th, 2017. On that Saturday, SD1 will need to close Donnermeyer Drive immediately west of the Donnermeyer/Riviera intersection (Heading into Newport) for approximately 8 hours to install a temporary pipe necessary for the project.
The remainder of this phase of the project will take about six months to complete. To ensure access to all the businesses and guarantee two-way traffic throughout the construction, a temporary road will be installed adjacent to the existing road in a similar manner as the last two construction phases. If you need any additional information, contact SD1 at 578-7450 and ask to speak to Rob Schroeder.
Campbell County Fiscal Court is launching the Campbell County Citizens’ Academy this fall! Similar to a citizens’ police academy, about 20-25 participants (residents and business owners in Campbell) will be selected to go through an eight-week educational program. The program will run 7-9pm each Monday night from September 25 to November 13. A wide variety of session topics and presenters are planned with the intent to better educate folks about the work and structure of county government and public services, as well as to get new faces engaged with the county.
Applications to the fall 2017 class must be submitted by September 13. To learn more and apply, view this link: http://campbellcountyky.org/index.php/home/news-a-events-103/556-citizens-academy-to-launch-this-fall.
Our final Second Saturday Concert is September 9th. The Concert will feature Forever Diamond, a Neil Diamond tribute band. The concert will begin at 7pm.
The Public Meeting scheduled for 9/5/17 to hear and present evidence relative to the Dwelling Unit Density Zoning Variance for 239 Grandview has been cancelled. Per KRS 100.247 the Board of Adjustment does not possess the power to grant a variance to permit a use of any land, building, structure which is not permitted by zoning regulation in the zone in question, or to alter density requirements in the the zone in question.
Should the developer want to pursue a change in density, they shall make application to the Planning and Zoning Commission. At this time, no application has been received and no public hearing has been scheduled. A full text of the Cancellation Notice is HERE
This is the Kent Building at 239 Grandview Ave in Bellevue. It is being offered for sale by the current owner through Colliers International. Further information about the property is available on their website. The link is located HERE
The City of Bellevue has been approached by Orleans Development to convert the manufacturing facility to a residential building with 66 market rate apartments. Because the number of units is above the maximum density allowed by right in the T5 zone, Orleans Development has submitted an application to the City’s Board of Adjustments for a Variance to allow for the development of the units on the approximately 1 acre site. A notice was sent to businesses and property owners adjacent to the property. The required notice per Kentucky Revised Statutes is located HERE for your reference. The meeting will be held on Tuesday, September 5th, 7pm in the Callahan Center.
Contrary to misinformation on flyers that have been placed on cars in the neighborhood, there is no plan for “Section 8 housing” on this site. In our meetings with Orleans Development, the developer stressed that his target market is professionals. Orleans Development has a track record of taking existing, underutilized buildings and turning them into desirable market rate residential and commercial properties. There are several examples in Covington and Newport of how Orleans transforms underutilized buildings. Photos and Images of the transformations can be found on their website located HERE.
Additional press and information regarding Orleans Development projects are provided below.
If you have any questions, please contact Keith Spoelker @ 431-8866.
Meeting Minutes for the following meetings are available:
A Regular Council Meeting, held July 12th, can be found HERE
The City of Bellevue’s Monthly Council Meetings are recorded by the Campbell County Cable Board. Full recordings of this month’s meeting as well as past meetings can be found HERE