The Shadow
Covington City Council met during a called meeting on Mon., March 21, and decided not to change the vehicle assessment.
The stated purpose of the called meeting was to, “…review and discuss a possible increase in personal property assessment.”
Jimmy Sanderson, a representative of Davenport & Company, LLC, the City’s municipal financial advisor, informed Council that a revenue shortfall could result from operating on a fiscal year basis opposed to a yearly basis.
Revenue based on a fiscal year would result in two revenue collections opposed to one via the yearly basis.
After considering what Sanderson reported, Council decided to keep the vehicle tax assessment the same, which is clean retail.
