62A500 (122)FOR OFFICIAL USE ONLY Locator NumberCounty Code Commonwealth of Kentucky DEPARTMENT OF REVENUE Station 322022 TANGIBLE PERSONAL/PROPERTY TAX RETURN See pages 11 and 12 for a complete list.
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How to fill out the KY DOR Form 62A500 online
Filling out the KY DOR Form 62A500 for tangible personal property tax can be straightforward when you understand each component. This guide provides detailed steps to assist you in completing the form accurately and efficiently online.
Follow the steps to successfully complete the KY DOR Form 62A500 online
- Click the ‘Get Form’ button to obtain the form and open it in the editor.
- Fill in the locator number and county code at the top of the form. Ensure that you enter the correct data as this will help in identifying your submission.
- Provide your Federal ID number or Social Security number under the 'Federal ID No. or Social Security No.' section.
- Enter the name of your business along with the telephone number in the designated fields.
- Indicate the organization type by checking the appropriate box. Options include individual, joint (co-owners), partnership/LLC, etc.
- Complete the mailing address and NAICS code fields as required for proper identification of your business location.
- Detail the property location by listing the address according to the guidelines provided in the form.
- If applicable, indicate whether the tangible property is located in other Kentucky counties by checking the corresponding box.
- Fill in any additional relevant sections regarding the property details as instructed within the body of the form.
- Review all entries carefully for accuracy.
- Once completed, save changes, and choose to download, print, or share the form as necessary.
Get started on filling out KY DOR Form 62A500 online today for a smoother filing experience.
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What is the intangible property tax in Kentucky?
The 1½ cent per $100 tax rate applies to accounts receivable and “any other intangible property rights arising out of or created in the course of regular and continuing business transactions substantially performed outside this state” (KRS 132.020).
What is included in tangible personal property?
Tangible personal property includes equipment, supplies, and any other property (including information technology systems) other than that is defined as an intangible property. It does not include copyrights, patents, and other intellectual property that is generated or developed (rather than acquired) under an award.
Do you have to pay property taxes on a mobile home in Kentucky?
All mobile homes and recreational vehicles located within Kentucky on January 1 each year are subject to all property tax levies applicable to other property subject to full state and local rates.
What is the tangible personal property tax rate in Kentucky?
Over the years, the State real property tax rate has declined from 31.5 cents per $100 of assessed valuation to 12.2 cents due to this statutory provision....House Bill 44. 2019 Real Property Assessment$50,000,0002019 Personal Property Tax RateX .00302019 Revenue from Personal Property$ 30,0004 more rows
What is the personal property tax rate in Kentucky?
Property taxes in in Kentucky are relatively low. The typical homeowner in Kentucky pays just $1,382 annually in property taxes, around half the national median. The state's average effective property tax rate is 0.80%.
What is tangible personal property in KY?
Tangible personal property is every physical item subject to ownership, except real and intangible property. Lessors and Lessees of Tangible Personal Property—Leased property must be listed by the owner on Revenue Form 62A500, regardless of the lease agreement's terms regarding tax liability.
Where do I mail Form 62A500?
Complete Revenue Form 62A500 for each fluidized bed energy production facility. The return must contain only the assessment for the facility. File the return with the Division of State Valuation, Revenue Cabinet, Frankfort, KY 40620.
How do I avoid property taxes in Kentucky?
Section 170 of the Kentucky Constitution authorizes exemption from property taxation for the following types of organizations: Government owned property. Institutions of education. Religious institutions. Public libraries. Cemeteries not held for private or corporate profit. Institutions of purely public charity.
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