Possible changes to a tax moratorium for Henderson properties could reap benefits for owners.
City Attorney Dawn Kelsey presented a proposal to change the city’s tax moratorium regulations at Tuesday’s Board of Commissioners meeting.
The tax moratorium amendment, if enacted, would allow the ordinance to be in place for all of Henderson, except those districts zoned light industrial or heavy industrial. The Board of Commissioners will hear a first reading at a future regular meeting.
Currently, the tax moratorium is available to properties in general business district, highway commercial district, residential office district, neighborhood business district, riverfront district, Audubon commercial district, Gateway zone district #1 and Henderson innovative planning district, according to a city document.
The tax moratorium would not apply to properties within light and heavy industrial districts. Properties within these zones are already eligible for state incentives, and property owners are not allowed to “stack” both state and local incentives, Kelsey said.
To be eligible for the tax moratorium, a property owner must complete building renovations or improvements that are valued at least 10% of the building’s assessed value, said Kelsey.
Additionally, the building must be at least 25 years old and used for either a commercial business or a residential property, Kelsey said.
If eligibility is met, the building will not be taxed at its new assessed rate after the renovations, but at its previous rate for five years, said a city document.
In other news from the Tuesday city commission meeting:
- The Kentucky League of Cities commended the Henderson Police Department for a 100% score on the KLC’s Safety and Liability Review.
According to Michelle Hill, the director of communications and marketing for KLC, police departments around the state are graded on more than 60 different specific items. She said some of the items that are reviewed are a detailed review of policies, training, vehicle safety, leadership, documentation and procedures.
She said for a department to score 100% is “actually pretty rare.”
- HPD appointed two new officers, Austin Hatchett and Tony Brown. Hatchett is originally from Henderson and previously worked at HPD, before taking a job at Shively Police Department in 2017, according to the HPD Facebook page.