Kentucky Property Tax Calculator

How this calculator works

Kentucky property tax is anchored in Ky. Const. § 172, which commands that all property be assessed at its "fair cash value, estimated at the price it would bring at a fair voluntary sale." This is a constitutional 100% standard — Kentucky cannot legislate a fractional assessment ratio without amending the constitution. The state real-property tax rate is set by KRS 132.020(1)(a) at 11.5 cents per $100 of fair-cash value (0.115%), among the lowest state-level real-property rates in the country. Most of a Kentucky property-tax bill is therefore the stack of local taxing-district rates — county, city, school, fire, library, health, extension — layered on top of that 11.5¢ state rate.

The math is the cleanest of any state in this calculator network:

• fair-cash value × 1.00 = assessed value (no ratio reduction, § 172)
• assessed value − homestead exemption (if any) = taxable value
• taxable value × combined tax rate = annual property tax

Everything else is determining the right combined rate, the right homestead exemption, if any, and — for the rate-setting analysis — whether the House Bill 44 / KRS 132.027 4% revenue rollback engages.

Kentucky's constitutional 100% assessment — § 172

Most states apply a statutory assessment ratio that reduces market value to a smaller "assessed value" before the tax rate is applied:

• Tennessee: 25% residential
• Ohio: 35% residential
• West Virginia: 60% residential
• Illinois (Cook County): 10% Class 2 residential
• Georgia: 40% statewide uniform

Kentucky assesses at fair-cash value under Ky. Const. § 172, which the constitution defines as the price the property would bring at a fair voluntary sale. The county property valuation administrator (PVA) appraisal IS the assessed value. No statutory ratio reduction sits between fair-cash value and the tax rate.

This makes the arithmetic clean — a homeowner can multiply the appraised value on the PVA's assessment notice directly by the published combined rate and arrive at the bill — but it also means the effective rate equals the nominal rate. Kentucky compensates structurally through the House Bill 44 / KRS 132.027 revenue rollback: as assessments rise, local rates are required to fall to keep revenue from existing property roughly flat, with a 4% revenue-growth cushion before the recall-petition mechanism engages.

The House Bill 44 / KRS 132.027 4% rollback

Each local taxing district (county, city, school, fire, library, health, extension) computes a compensating tax rate each year — the rate that, applied to current-year assessments of EXISTING property, would produce the same revenue as the prior year. New construction and annexation are excluded from this calculation; the compensating-rate math is about EXISTING property only.

The district may:

• Adopt the compensating rate as of right — no public hearing required.
• Adopt a rate up to the 4% threshold rate (the rate that would produce 4% revenue growth from existing property) — requires a public hearing but is not recallable.
• Adopt a rate above the 4% threshold rate — requires a public hearing AND the portion above the threshold is recallable by petition of 10% of voters who cast ballots in the last presidential election in the affected district. If the petition succeeds, the excess rate goes on the ballot for a recall vote.

In practice, most Kentucky districts adopt either the compensating rate or the 4% threshold rate — both avoid the recall mechanism. Over a 10-year period, a 4%/year cap on revenue growth from existing property still allows revenue to track inflation plus modest real growth while heading off runaway assessment-driven bill increases.

This is why Kentucky owners do not experience the sawtooth assessment-driven bill increases that North Carolina or Texas owners see at revaluation: the rate is supposed to roll back to keep revenue stable. When a district proposes a rate above the 4% threshold, voters have a structural pathway to push back.

The state real-property rate — KRS 132.020

The state real-property rate of 11.5¢ per $100 of fair-cash value (0.115%) under KRS 132.020(1)(a) has been at this level since House Bill 44 of 1979 began the broad rollback regime. Kentucky funds state operations primarily from the state income tax (currently 4.0%, scheduled to step down toward 3.5% under HB 8 of 2022's reduction triggers) and the state sales tax (6%), not from real-property tax.

For a $300,000 home in Jefferson County the state portion of the bill is only $345 out of a total near $3,810. The bulk of the bill is the stacked local rates: county, city, school, library, fire, health, and extension.

Common combined tax rates by county

Combined rates (state + county + city + school + special districts) for 2024–2025 on residential primary residences:

| County | Combined rate | $300K home tax | | --- | --- | --- | | Hardin (Elizabethtown) | 0.98% | $2,925 | | Madison (Richmond) | 0.99% | $2,970 | | Bullitt | 0.99% | $2,970 | | Warren (Bowling Green) | 1.00% | $2,985 | | Boone (Florence) | 1.01% | $3,030 | | Daviess (Owensboro) | 1.05% | $3,135 | | Kenton (Covington) | 1.10% | $3,285 | | Campbell (Newport) | 1.10% | $3,300 | | Fayette (Lexington) | 1.21% | $3,615 | | Jefferson (Louisville) | 1.27% | $3,810 | | Rural / other (typical) | 0.90% | $2,700 |

Kentucky combined rates vary substantially within a single county depending on whether the parcel is inside city limits, inside a specific school district, and inside any special districts. Pull the binding combined rate for the specific parcel from the county PVA's annual tax rate certification.

The homestead exemption — KRS 132.810

Kentucky's homestead exemption is constitutionally indexed every two years under Ky. Const. § 170, with the operating mechanism in KRS 132.810. The current published figure for the 2025–2026 biennium is $46,350 of fair-cash value, deducted before the rate is applied.

Two independent qualifying paths, both producing the same dollar amount:

• Age 65 or older on January 1 of the tax year — joint-titled property qualifies if either spouse meets the age test.
• Totally disabled, as certified by the Social Security Administration, the U.S. Department of Veterans Affairs, the Railroad Retirement Board, or a comparable disability-determination process — no age requirement.

In both cases the property must be the owner's permanent residence, the owner must occupy the property, and the application is filed with the county PVA. The exemption is not stacked — an owner who is both 65+ and totally disabled receives one $46,350 exemption, not two.

Historical biennial figures:

• 2025–2026: $46,350
• 2023–2024: $46,350 (the biennium figure stepped up materially from $40,500 with the 2023 indexing)
• 2021–2022: $40,500
• 2019–2020: $39,300
• 2017–2018: $37,600

On a typical Jefferson County (Louisville) home at a 1.27% combined rate, the $46,350 exemption produces an annual tax saving of about $589.

A worked example — $300,000 Louisville home, age 45

A $300,000 home in Louisville (Jefferson County). Owner is 45, not totally disabled, primary residence. Jefferson's combined rate is 1.27%.

• Fair-cash value: $300,000
• Assessed value: $300,000 (100% ratio under § 172)
• Homestead exemption: not applicable (under 65, not totally disabled)
• Taxable value: $300,000
• Tax owed: $300,000 × 0.01270 = $3,810
• State portion: $300,000 × 0.00115 = $345
• Local portion: $300,000 × 0.01155 = $3,465
• Effective rate: 1.27% of fair-cash value

The effective rate equals the nominal rate exactly — that is what the 100% constitutional ratio produces.

A worked example — same home, age 70

Same $300,000 Louisville home. Owner is now 70 years old and occupies the property as a permanent residence — qualifies for the KRS 132.810 age-65+ homestead exemption.

• Fair-cash value: $300,000
• Homestead exemption: $46,350 (2025–2026 biennium)
• Taxable value: $300,000 − $46,350 = $253,650
• Tax owed: $253,650 × 0.01270 = $3,221
• Annual savings vs the under-65 baseline: $3,810 − $3,221 = $589

The age-65+ homestead exemption is the most-impactful Kentucky property-tax benefit for retirees. The savings scale with the combined rate — the same $46,350 exemption produces a $559 saving in Lexington (1.205%), $526 in Northern Kentucky's Kenton County (1.095%), and $417 in a typical rural county (0.90%).

A worked example — $300,000 Lexington home, disabled veteran age 50

Same $300,000 fair-cash value but in Lexington (Fayette County), owner is age 50 and is totally disabled with SSA certification. Fayette's combined rate is 1.205%.

• Fair-cash value: $300,000
• Homestead exemption: $46,350 (KRS 132.810 disability path — no age requirement)
• Taxable value: $253,650
• Tax owed: $253,650 × 0.01205 = $3,056
• Savings vs the same home with no exemption: $3,615 − $3,056 = $559

The disability path to the KRS 132.810 homestead is the most under-utilized Kentucky property-tax benefit for working-age owners. Total disability certification by SSA / VA / RRB qualifies an owner of any age — the same dollar amount as the age-65+ path.

A worked example — Boone County, $500K home, age 50

A $500,000 home in Florence (Boone County), owner age 50, not disabled. Boone's combined rate is 1.01%.

• Fair-cash value: $500,000
• Homestead exemption: not applicable (under 65, not disabled)
• Taxable value: $500,000
• Tax owed: $500,000 × 0.01010 = $5,050
• State portion: $500,000 × 0.00115 = $575
• Local portion: $500,000 × 0.00895 = $4,475
• Effective rate: 1.01%

Boone County is in the Northern Kentucky tri-county area (Boone / Kenton / Campbell). Combined rates in Northern Kentucky run lower than Louisville and Lexington because the school-funding model leans more on the state's share and on adjacent Cincinnati commuters' Ohio-side income tax, with a smaller local property-tax share.

A worked example — House Bill 44 analysis

A county taxing district had $10,000,000 of revenue from existing property in the prior tax year. The proposed current-year rate would produce $10,500,000 of revenue from EXISTING property (i.e., excluding new construction and annexation).

• Year-over-year growth from existing property: ($10,500,000 / $10,000,000) − 1 = 5.0%
• House Bill 44 threshold: 4.0% revenue growth
• Excess growth: 1.0% over the threshold
• Consequence: A public hearing is required. The portion of the proposed rate above the 4% threshold rate is recallable by petition of 10% of voters who cast ballots in the last presidential election in the affected district. If the petition succeeds, the excess rate goes on the ballot for a recall vote.

If the proposed revenue had been $10,400,000 instead — exactly 4.0% growth — the recall mechanism would NOT engage. Only growth above 4% triggers the recall pathway.

Most Kentucky districts adopt either the compensating rate (zero growth from existing property) or the 4% threshold rate. The recall mechanism is rare in practice precisely because districts that approach it usually back off to the 4% threshold rather than provoke a recall campaign.

Collection schedule and the November discount — KRS 134.020

Under KRS 134.020 the typical Kentucky property-tax collection schedule for real property is:

• November 1: tax bills sent. 2% discount for payment by November 30 — the early-payment discount that materially benefits owners with cash on hand.
• December 31: face value due.
• January 1: tax becomes delinquent.
• January 1 to April 15: 5% penalty.
• April 15 onward: 10% penalty plus 12% annual interest. Tax liens may be sold to third-party purchasers under KRS 134.490 if unpaid by the spring tax-sale date.

The 2% November discount is the most-missed savings opportunity in the Kentucky property-tax cycle — on a $3,800 bill, paying by November 30 saves $76 versus the face-value December payment. Owners with autopay set to "pay on due date" miss this discount; switch to "pay on first available date in November" for the discount. Counties may vary the exact calendar by a few days; check the county sheriff's tax-collection office (sheriffs collect property tax in most Kentucky counties).

Comparing Kentucky to neighboring states

Effective property-tax rates on residential primary residences across the Ohio Valley:

| State | Effective rate (typical) | Why | | --- | --- | --- | | West Virginia | ~0.60% | 60% residential assessment ratio | | Tennessee | ~0.65% | 25% residential ratio | | Indiana | ~0.85% | 1% residential circuit-breaker cap | | Kentucky | ~0.85%–1.30% | 100% fair-cash; HB 44 rollback; rate-driven | | Virginia | ~0.85% | 100% ratio; varied locality rates | | Ohio | ~1.50% | 35% residential ratio plus higher nominal rates | | Illinois | 2.0%–2.5% | 33% (10% Cook County) residential plus multipliers |

Kentucky sits at the lower end of the Ohio Valley range. The structural protection is the House Bill 44 revenue rollback — assessments can rise without triggering proportional bill increases because rates are required to fall to keep revenue from existing property within a 4% growth corridor. Tennessee's low rate comes from the 25% residential ratio rather than from a rollback; Ohio's mid-tier rate comes from the 35% residential ratio combined with higher nominal rates. Kentucky's system is closer to Virginia and Indiana — 100% assessment, low-to-moderate effective rates, with structural softeners built into the rate-setting process rather than the assessment ratio.

Common errors to avoid

• Treating "assessed value" as a reduced figure. In Tennessee, Ohio, West Virginia, Georgia, and most other states the assessed value is a fraction of fair-market value. In Kentucky, assessed value EQUALS fair-cash value. Do not divide by 0.25 or 0.35 — the PVA's appraised number IS the taxable number.
• Forgetting the November 30 discount. A 2% discount on a $3,800 bill is $76 of annual savings. Owners on autopay set to "pay on due date" miss this every year. Switch to "pay on first available date in November."
• Missing the disability path to the homestead. The KRS 132.810 homestead exemption is most commonly known as the "age-65 exemption" — but the disability path is independent of age and equally available. A 50-year-old totally disabled owner with SSA certification gets the same $46,350 exemption as a 75-year-old neighbor.
• Stacking the age and disability paths. An owner who is both 65+ and totally disabled receives ONE $46,350 exemption, not two. Different qualifying paths to the same dollar amount.
• Confusing the homestead exemption with the disability income exclusion. The KRS 132.810 homestead exemption is independent of income — there is no income test, unlike North Carolina's elderly/disabled exclusion. Apply regardless of income level.
• Ignoring the House Bill 44 rollback. When a local taxing district proposes a rate that produces more than 4% revenue growth from existing property, voters have a structural recall pathway under KRS 132.027. The mechanism is rare but real. Watch the district's annual rate-certification notice for the 4% threshold rate alongside the proposed rate.
• Appealing too late. The PVA's open-inspection period is typically the first week of May. The formal Board of Assessment Appeals deadline is usually the third Monday in May. After the BAA deadline the only path is the Kentucky Claims Commission — a much higher procedural bar than the informal PVA conference.

Tools, not advice. Confirm the binding county and local tax rates with the county PVA and confirm homestead eligibility (and the current biennial exemption amount) on the PVA's application before relying on any result for planning purposes.