Boone County’s population and business growth enabled elected officials to lower property taxes rates – again.
The four elected representatives on the county’s Fiscal Court unanimously voted to lower all three types of property tax assessments.
Fiscal Court has not previously lowered all three property tax types in the same year, Boone County Judge-executive Gary Moore said.
Boone County will collect $229,000 less in property taxes this year than last year. Boone County Fiscal Court unanimously approved lowering property tax rates Aug. 8. Real, personal and motor vehicle property taxes were lowered.
“Because of the economic development and new growth in Boone County we have more taxpayers,” Moore said. “Because we have more taxpayers we can lessen the tax burden on property owners and businesses.”
In 2000, Boone County had 85,991 residents. The population has swelled past 119,000 residents in 2016, according to U.S. Census Bureau estimates.
Expected growth from online retailer Amazon’s plans to add 2,700 more jobs in Boone County will likely allow Boone County to lower rates in the future, Moore said.
Boone County’s growth is not a secret, Moore said. It is one of the fastest growing Counties in the Cincinnati area.
“This is an indication of success and prosperity within the private sector,” Moore said.