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Facts & Figures - Kentucky

Property taxes for the state of Kentucky.

In The Bluegrass State, all types of property are taxed by the state (13.6 cents for every $100 of assessed value) unless specified for exemption by the Constitution. Property is also taxed at the local level. Three classes of property have special rates assigned by the General Assembly, one by the Kentucky Supreme Court, and the remaining classes are taxed at the full local rate, which includes the tax rate established by local taxing entities (e.g. school districts, cities, etc.) as well as all voted levies.

For a list of all counties in Kentucky, including tax rates specific to each county, click here.

Tax laws are based on the fair cash value of all real, tangible, or intangible (e.g. stocks, bonds, notes, trusts, etc.) property and are levied annually on January 1, except if a special exemption exists. For example, taxes on a vehicle are due to the county clerk on or before the last day of the month in which you registered the car or registered for a renewal license.

Other things you have to report are farming equipment and livestock (which you can earn a reduced state rate on), leased property, and depreciable assets, among other things, all of which you can view here.

Basically, for all the ins and outs of Kentucky’s tax laws, you can jump here and read Title XI, which includes sales and use taxes, income tax, and inheritance and estate taxes. Chapters 131-136, however, contain the property tax information, so these may be of special interest.

Any homeowner can be eligible for a homestead exemption based on the assessed value of a single-unit residential property which is adjusted every two years according to the cost of living index. Homestead exemptions are also available to homeowners who are age 65 or older or classified as totally disabled. Under this provision, exemptions up to $29,400 of the assessed value of the property’s is exempt from state taxes.

Kentucky Department of Revenue

 

 



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