Kentucky Property Tax

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A new state law aims to soften the impact of property taxes on Kentucky’s bourbon distilleries.

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Kentucky’s property tax rate remains unchanged for 2014.

The state Department of Revenue has set it at 12.2 cents per $100 of assessed value. 

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Graves County residents are weighing in on the county-wide proposed property tax hike today in higher numbers than expected.

County Clerk Barry Kennemore says most polling stations are reporting steady results but few lines.

He says, if voters keep up the pace, overall turnout could reach 40 percent, which he says is higher than his initial projections. 

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The Graves County Board of Education will have a special meeting at noon Wednesday, to vote on whether or not to proceed with a special election involving a proposed 18 percent property tax increase.

The tax increase would raise Graves County’s property tax from 37.5 cents to 44.4 cents in an effort to bolster county schools. The special election is a result of a petition circulated by county residents who don’t want the tax increase.

People interested in running for property valuation administrator in Kentucky counties next year can take the required examination to qualify next month in Lawrenceburg.

The exam will be given on November 8 at Eagle Lake Convention Center. Applicants passing the test from those counties will be eligible for appointment for the remainder of the 2010-2014 term and to seek election in 2014.

The state's top budget official is reporting an 8.3 percent increase in General Fund revenue in May, largely thanks to improved collections from the sales tax, individual income taxes and property taxes.

Budget Director Jane Driskell released a monthly revenue report on Monday. The report showed property tax collections increased by 75.2 percent in May. Individual income tax receipts rose by 8.3 percent. And sales tax receipts were up 5.2 percent.

The state property tax bill delivered to homeowners this fall will look familiar.  This year’s tax rate of just over 12-cents per 100 dollar assessed property value has remained unchanged since 2008.  

Kentucky Property Tax Remains the Same

Jul 3, 2012

Kentuckians will continue to pay 12.2 cents on each $100 dollars worth of property they own over the next year.