Kentucky Property Tax Information
In Kentucky, the average property tax paid is 0.83% of a home’s value per year. The state’s typical homeowner pays $1,257 annually in property taxes, about half the national median.
Kentucky Tax Exemptions
Seniors aged 65 and above in Kentucky can receive a homestead exemption from property taxes. The exemption was $39,300 in 2020 and will be $40,500 in 2021 and 2022. Only one exemption is allowed per household.
Kentucky Department of Revenue
The Department of Revenue (DOR) sets the State Real Property Tax Rate, which in 2022 is 11.5 cents per $100 of assessed value. Property taxes are collected in two payments, typically in May and October.
Homestead Exemption Eligibility
To qualify for the senior exemption, individuals must be at least 65 years old or classified as disabled, with the property serving as their primary residence.
Factors Affecting Property Taxes
Some counties in Kentucky have higher property tax rates than others. It is essential to check your county’s specific rate to estimate annual property taxes.