- Boone County lowered its real property tax rate from 8.5 to 8.2 cents per $100 of assessed value.
- Total property assessments increased 6.58% to approximately $25.8 billion, including nearly $350 million in new property.
- The county expects the lower rates to generate about $17.5 million from real and tangible personal property, slightly above its budget projection.
Boone County voted to cut property tax rates amid rising property values throughout the area.
On Tuesday, the Boone County Fiscal Court unanimously voted to reduce the real property tax rate to 8.2 cents per $100 of assessed value, down from 8.5 cents the previous year. Moreover, the court also lowered the tangible personal property rate from 9.5 cents to 9.3 cents.
The county’s motor vehicle tax rate will remain the same at 14.2 cents per $100 valuation…