There are no changes to be found in the City of Bowling Green’s proposed real estate and personal property tax rates for 2023.

The city posted the required notice regarding the year’s rates on Friday, revealing figures consistent with last year.

The real property rate remains at 20.5 cents for every $100 in valuation. The personal property rate stays put at 26 cents for every $100 of value.

“They are completely different, but both (rates) are remaining unchanged as part of this proposal,” said Katie Schaller-Ward, the city’s chief financial officer.

The last time either of those calculations were edited was in 2017, when the real property rate was lowered from 20.6 cents.

The Board of Commissioners did consider a proposal to increase the real estate rate back to 2017 levels last summer, an adjustment that would have generated an estimated $60,000 in additional revenue.

The commissioners ultimately voted to leave the figure untouched, citing inflationary woes already troubling residents.

“I think that’s the right thing to do given the economic climate that we’re in today – any tax increase is not welcome,” Commissioner Sue Parrigin said last August.

Schaller-Ward said growth in assessment values are what the commissioners look at when considering any changes, a metric that has increased in recent years.

On the other hand, Schaller-Ward said the personal property rate hasn’t been touched since 1980 when it was brought down four cents from $0.30.

“It’s been a very long time,” she said.

According to the city, it collected a little under $12.4 million in real estate taxes during the preceding year. Next year’s real property revenue estimate sits at $13.9 million, but Schaller-Ward said that figure would probably be closer to $13 million.

“We generally on average only collect about 94%, so we probably won’t collect $13.9 million,” she said. “We never get 100% collection.”

The city also estimated an additional $430,000 in revenue to be generated from new real property.

According to the notice, any additional tax dollars received from growth in assessment values will be proportionally spent within all city departments which utilize local tax dollars “in order to meet the operational costs associated with providing basic levels of service to the community.”

The city will hold a public hearing on Aug. 15 at 4:30 p.m. in the Bowling Green City Hall commission chambers to obtain comments from residents regarding the rates.