Fort Wright homeowners would pay a higher property tax rate in fiscal year 2026-27 under a proposal headed to public hearing Wednesday, Oct. 7.

The city is proposing a real property tax rate of 21.1 cents per $100 of assessed valuation, up from the current 19.9 cents, according to the city's official tax rate notice. The personal property rate would also rise, from 38.5 cents to 39.1 cents per $100.

The proposal also represents a change from council’s discussion in early September, when members considered lowering the real-property rate further, to between 18.5 and 18.7 cents per $100.

At the current rate, Fort Wright collected $1,579,019 in real property tax revenue in FY 2025-26. The proposed rate would generate an expected $1,720,225, roughly $141,000 more. Personal property tax revenue would climb from $157,243 to an expected $171,104.

Both proposed rates exceed what Kentucky calls the "compensating rate," the rate that would produce the same revenue as the prior year after accounting for changes in property assessments. The compensating rate for real property is 20.3 cents; for personal property, 37.6 cents. Because the city is proposing rates above those thresholds, state law requires the public hearing.

The city's notice states the additional revenue would go toward continued operations, including utilities, personnel, equipment and street repairs.

Rising property values are part of the backdrop. At an Aug. 21, 2024, caucus meeting, Mayor Dave Hatter reported that assessed values in Fort Wright had jumped more than $130 million to $760 million after the Kenton County Property Valuation Administrator's quadrennial reassessment. That 20 percent increase in valuations helped the city lower its rate for FY 2025-26.

At an Oct. 1, 2025, special hearing, Hatter explained the reduction from 21.5 cents to 19.9 cents. Rising appraisals and revenue growth elsewhere made it possible, he said, because "the City can afford to decrease the tax rate for FY 2025/2026 and continue with the same quality operations of the city budget."

No city official has made a public statement explaining the proposed increase for fiscal year 2026-27. The official notice does not detail what specific cost increases are driving the proposal.

The hearing begins at 6 p.m. Wednesday, Oct. 7, in the Council Chambers at Fort Wright City Hall, 409 Kyles Lane. Residents can also contact City Hall at (859) 331-1700.