Kentucky gasoline tax to rise by 1.9 cents a gallon on July 1
Taxes Monday, June 20th, 2011
From: courierpress.com
FRANKFORT, Ky. (AP) — The tax on gasoline in Kentucky is going up next month.
The tax rate will go from 25.9 cents a gallon to 27.8 cents on July 1, meaning motorists will pay 1.9 cents more per gallon.
Increases in the gas tax are the results of a 1980 law tying the state’s gas tax to the average wholesale price of gasoline. Greg Harkenrider, who is acting deputy executive director for the Governor’s Office for Policy Research, told the Lexington Herald-Leader that an April survey showed an increase in the wholesale price of gas, hence the tax increase.
Although the tax changes often, the July increase will be one of the bigger hikes. Transportation Cabinet spokesman Chuck Wolfe said the tax increased by 0.3 cents in January.
The state surveys wholesale gas prices every three months and changes in the tax rate show up at the pumps three months later. Gas prices will be surveyed again in July and any changes would be reflected in October gas prices.
The state’s method of determining tax rates was implemented amid concerns in 1980 that increasing gas prices would cause people to purchase less fuel, which would put less money for the state’s Road Fund, which pays for road projects.
To read more, visit: http://www.courierpress.com/news/2011/jun/20/kentucky-gasoline-tax-rise-19-cents-gallon-july-1/
Short URL: http://www.reteaparty.com/?p=2141
This is ridiculous. With alot of people on unemployment everything keeps going up making it even harder on people to live then the government wants to know why there are so many homeless people out there.