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All property, unless specifically exempt by the constitution or by an act of the legislature, is taxable. The constitution expressly prohibits exemption of any property or persons except those allowed by the constitution itself.
Organizations exempt from federal income tax under Section 501(c) are not automatically exempt from Kentucky property tax and they must complete Form 62A023, Application for Exemption from Property Taxation, to determine if they meet all the qualifications to be exempt from Kentucky property tax.
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Mar 28, 2024 · Property taxes are a form of an ad valorem tax which is a tax based on assessed monetary value. Fiscal courts levy property taxes on real property, such as land and buildings, and tangible property, such as motor vehicles and equipment. All 120 counties levy property taxes.
May 19, 2023 · Kentucky’s property tax is imposed on all real and personal property located within the state. The tax rate varies depending on the county in which the property is located. Property taxes in Kentucky are levied by both the state and local governments.
Dec 14, 2021 · This brief provides an overview of property taxes on real estate collected by counties, with a focus on property taxes collected by fiscal courts. Property tax rates are included for all 120 counties.
In Kentucky, taxes are assessed each year on January 1 by the local Property Valuation Assessor. The property owner of record on January 1 is the person in whose name the tax bill will be issued. This means that if you buy your property in the middle of the year, the tax bill will come out in the name of the prior owner and NOT your name.
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This publication reports the 2022 ad valorem property tax rates of the state and local governmental units in Kentucky, including county, city, school and special district levies. Kentucky has a broadly-based classified property tax system.
