The Fiscal Court approved the tax rates for fiscal year 2023 in a special-called meeting August 26.

County Treasurer Darlene Lanham presented slight decreases for personal and real property tax. Those taxes are compensating rates, which means they change each year to allow governments to bring in the same or similar revenue as the previous year. Since property values have gone up this year, compensating rates are going down in many places.

The court approved a real property compensating rate of 0.064 cents per $100 of assessed value, which is down from 0.066 last year. The personal property rate will be 0.077, down from 0.078.

Rates that are not changing this year are:

• Distilled spirits – 0.077

• Aircraft – 0.077

• Watercraft – 0.069

• Motor vehicles – 0.069

• Agriculture products – 0.045