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The Lebanon City Council voted Monday to approve the second reading of an ordinance setting its tax rates for the 2011-12 fiscal year.
The real property tax rate is 18.4 cents per $100 valuation. This is an increase over the previous rate of 18 cents per $100 valuation.
The city's personal property tax rate is 20 cents per $100 valuation.
The new tax rates will become official once they are published.
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