Finances

Fort Wright Financial Information

The City of Fort Wright Transparency Portal

In an effort to provide financial information that is more timely, clear and transparent, The City of Fort Wright is very pleased to present our Financial Transparency Portal. We have partnered with OpenGov, a leader in this space, to provide a new web-based financial transparency and analysis tool that dynamically presents the city’s revenues and expenses from historical trends to line item level details.

Through the OpenGov platform, residents, government officials and staff have around-the-clock access to easy-to-understand and easy-to-use presentation of The City of Fort Wright budget and actuals.

This is your City and your money and we encourage you to explore the portal on a regular basis. We believe that you’ll agree with us that this is a new standard of transparency and will be a powerful tool for residents and staff alike. We will continue to add new reports to the portal, so check back frequently for additional information and let us know if you have questions or reports that you think would be useful.

To be taken to the OpenGov Portal, please click the logo below.

 

Tax Rates

 

FORT WRIGHT
PROPERTY TAX RATES
2024 Tax Rates2023 Tax Rates2022 Tax Rates2021 Tax Rates2020 Tax Rates2019 Tax Rates2018 Tax Rates
Real Property
(per $1,000 assessed)
$2.15$2.48$2.48$2.65$2.65$2.79$2.79
Tangible Property
(per $1,000 assessed)
$3.85$4.46$3.80$4.09$4.09$4.09$4.09
Waste Fee$216.00$216.00$197.00$197.00$183.00$183.00$154.00
Insurance Premium Tax8%8%8%8%8%8%8%
Motor Vehicle Tax$.0200$0.1977$0.1977$0.1977$0.1977$0.1977$0.1977
Payroll Tax
(Occupational License Tax)
0.99%0.99%0.99%0.99%1.15%1.15%1.15%

 

 

Insurance Premium Tax – This tax is billed on an individual’s casualty; automobile; inland marine; and fire and allied perils insurance statements, as well as the first year of a new life insurance policy. The fee is paid to the insurance company, which in turn sends the funds to the City of Fort Wright. [FW Code of Ordinances §116, passed September 1984; amended October 1984; amended October 2012.]

All insurance companies operating in Kentucky have the option of charging a processing/transaction fee affiliated with the collection of Insurance Premium Taxes. Insurance companies are required to disclose the additional fee on the declaration page of the policy. The fee is established via KRS 91A.080(4) and 806 KAR 2:092 as follows: a reasonable collection fee may be charged and retained by the insurance company or its agent; the collection fee may not be more than fifteen (15) percent of the Local Government Premium Tax (LGPT) collected and remitted to the local government, or two (2) percent of the taxable premium, whichever is less; this fee is in addition to the LGPT payable.

Motor Vehicle Tax – Personal property taxes are collected on motor vehicles by the Kenton County Clerk as required by KRS 134.800 et seq., and then paid to the City of Fort Wright. Beginning January 1, 2024, the motor vehicle tax will be set at $0.02 per $100 of value. [FW Code of Ordinances §37.02, passed October 1994; amended october 2021; amended December 2022.]

Fort Wright Budgets By Fund

Financial Audit 2024

The documents below provide discussion and analysis of the City of Fort Wright’s financial performance and activities during the fical year July 1, 2023, through June 30, 2024. Please click the links to view the reports.

2024 City of Fort Wright Audited Financial Statements

Chamberlin Owen Presentation to Council – January 2025

Financial Audit 2023

The documents below provide discussion and analysis of the City of Fort Wright’s financial performance and activities during the fical year July 1, 2022, through June 30, 2023. Please click the links to view the reports.

2023 City of Fort Wright Audited Financial Statements

Chamberlin Owen Presentation to Council – January 3, 2024

Financial Audit 2022

The documents below provide discussion and analysis of the City of Fort Wright’s financial performance and activities during the fical year July 1, 2021, through June 30, 2022. Please click the links to view the reports.

2022 City of Fort Wright Audited Financial Statements

Chamberlin Owen Presentation to Council – December 7, 2022

Financial Audit 2021

The documents below provide discussion and analysis of the City of Fort Wright’s financial performance and activities during the fical year July 1, 2020, through June 30, 2021. Please click the links to view the reports.

2021 City of Fort Wright Audited Financial Statements

City of Fort Wright Management Letter

Financial Audit 2020

The documents below provide discussion and analysis of the City of Fort Wright’s financial performance and activities during the fiscal year July 1, 2019 thorugh June 30, 2020.  Please click the links to view the reports.

2020 City of Fort Wright Audited Financial Statements

City of Fort Wright Management Letter

Financial Audit 2019

The documents below provide discussion and analysis of the City of Fort Wright’s financial performance and activities during the fiscal year July 1, 2018 through June 30, 2019.  Please click the links to view the reports.

2019 City of Fort Wright Audited Financial Statements

City of Fort Wright Audit Presentation

City of Fort Wright Response to the Audit

Here are a few highlights from the audit:

Bar Graph Displaying Cash vs Fund Balance Line Graph Displaying Total Revenues vs Total Expenditures

Financial Audit 2018

The documents below provide discussion and analysis of the City of Fort Wright’s financial performance and activities during the fiscal year July 1, 2017, thorugh June 30, 2018.  Please click the links to view the reports.

2018 City of Fort Wright Audited Financial Statements

City of Fort Wright Audit Presentation

City of Fort Wright Response to the Audit

 

Here are a few highlights from the audit:

Bar Graph Displaying Cash vs Fund Balance Line Graph Displaying Total Revenues vs Total Expenditures