Lexington will slightly lower tax rates next year, but homeowners may not see a decrease in their property tax bills.
The Lexington-Fayette Urban County Council took its first vote during a Tuesday council work session to approve a tax rate that would generate a 4% increase in revenue, thanks largely to new properties being added to the tax rolls and increasing property values.
But the merged government’s portion of individual homeowners’ property tax bill is very small — about 6%. The remaining property taxes go to the state, the school system and other smaller taxing districts like Lextran…