The City of Paducah levies a tax of 2.0% called the Occupational License Fee, also known as the Payroll Tax. It's a tax paid by people who work within the City of Paducah. In other words for every $1.00 that is earned, $0.02 is paid to the City of Paducah. The Payroll Tax is the largest revenue source for the City. Three-quarters of the Payroll Tax is placed into the General Fund. The remaining quarter is placed into the Investment Fund. The Investment Fund is dedicated to the following expenditures: economic development, neighborhood redevelopment, infrastructure capital investment, and property tax relief.
The anticipated revenue from the Payroll Tax for Fiscal Year 2021 for the General Fund is approximately $14.4 million with the revenue for the Investment Fund equal to $4.8 million (a quarter of the total Payroll Tax collected which is projected to be approximately $19.2 million).
Below are links to annual summaries of Investment Fund expenditures. The first document is the quick fiscal summary. The second document provides additional fiscal details.
Fiscal Year 2019 | |
Fiscal Year 2018 | |
Fiscal Year 2017 | |
Fiscal Year 2016 | |
Fiscal Year 2015 |
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Fiscal Year 2014 |
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Fiscal Year 2013 |
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Fiscal Year 2012 |
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Fiscal Year 2011 |
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Fiscal Year 2010 |
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Fiscal Year 2009 |
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Fiscal Year 2008 |
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Fiscal Year 2007 |
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Fiscal Year 2006 |