Fiscal Court Holds Special Session in Regards to Insurance Tax

On Thursday Feb. 15th, 2024 at 3:30pm, the Lee County Fiscal Court held a special session for the 2nd reading of the insurance tax ordinance (which was open to the public). This ordinance is supposed to bring in more funding for the county ambulance service which has been an ongoing issue in the county for years. 92% of the county’s runs are Medicare/Medicaid, which only pay 31% of the cost of the run.

The original ordinance that was proposed in the regular Feb. meeting on 2/8, was for a 12% tax to be added onto insurance companies for “the privilege of engaging in the business of insurance within the county” and originally included health and life insurances to be taxed along with property/homeowners and auto, etc. This was/is to go into effect July 1st.

Per the 2/15 meeting, the court decided to drop the health and life insurance for taxation and lower the 12% to 8%. Mays stated at the meeting that there was no way to determine exactly how much revenue this will generate at this time. The county has or had previously been relying on coal severance funds, covid relief funds and EKY SAFE funds to supplement the ambulance service.

Making the motion for the 8% taxation was magistrate Tim Brandenburg sr. with all other magistrates in agreement, Dean Noe seconding the motion.

On another note, many citizens have vented their disagreement with the short notice in which the meeting was planned along with the time of day in which it was held. Most stated that they felt that the meeting was during a time of day that those affected, are at work with little to no notice in order to make arrangements to attend.

For more info, questions or concerns you may contact the office of LC Judge Executive Steve Mays at 606.464. 4100 8am-4pm or email Steve.mays@ky.gov