A state sales tax is levied at the rate of 6% on the purchase or lease price of taxable goods and on utility services. Local sales taxes are not collected in Kentucky. The Kentucky Constitution requires the state to tax all classes of taxable property, and state statutes allow local jurisdictions to impose only a few classes. All locally taxed property is subject to county taxes and school district tax (either a county school district or an independent school district). Property located inside city limits may also be subject to city property tax. Property assessments in Kentucky are at 100% fair cash value. Special local taxing jurisdictions (fire protection districts, watershed districts, and sanitation districts) levy taxes within their operating areas (usually a small portion of the community or county).
The purpose of MHCEDC is to:
to engage, directly or indirectly, in economic development, community development, educational-opportunity enhancement, and culture-improvement activities within the Madisonville and Hopkins County area;
to maintain, enhance, improve and enlarge the employment base of the citizens and the residents thereof, and
to improve, expand and support any and all types of community-development, cultural and educational opportunities for said citizens and residents.