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Public Hearing on setting the 2025 Ad Valorem Tax Rate

June 16, 2025 06:30 PM to 07:00 PM
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The City of Prospect will hold a public hearing per KRS 132.027 for setting its 2025 real property tax rate. The hearing will be held on June 16, 2025, at 6:30 p.m. at 9200 US Hwy 42, Prospect, KY. The 2024 tax rate of $0.174 per $100 of assessed valuation, produced $1,889,723. The compensating tax rate for 2025, the rate that would produce the same revenue as 2024, is $0.176 per $100 of assessed valuation. The 2025 proposed tax rate is $0.183 cents per $100 assessed valuation and would produce $2,003,740. The City of Prospect proposes to exceed the compensating tax rate with the expected revenue spent on police protection and general government expenses.

Who we are

Prospect City Badge

We are a community that values small-town charm, rich history, and natural beauty, all while striving for a bright future.

Located along the scenic Ohio River, Prospect is a place where neighbors know each other, families thrive, and visitors are always welcome. Our goal is to foster a vibrant, safe, and engaging environment for everyone who calls Prospect home.

With our commitment to community well-being, Prospect offers numerous opportunities for residents to connect and enjoy local events, scenic parks, and neighborhood programs.

  • A Welcoming Community - We pride ourselves on fostering a friendly and active community, where people look out for one another and share a common passion for enhancing our town.
  • Natural Beauty & Parks - With beautiful parks, walking trails, and river views, Prospect offers serene spaces for outdoor activities, family picnics, and daily strolls.
  • A Place for All Ages - From seasonal festivals to youth and senior programs, we have activities and resources for all age groups, making Prospect a great place to live, work, and play.