Homestead Exemption In Ky In Wayne
Description
Form popularity
FAQ
In Kentucky, homeowners who are least 65 years of age or who have been classified as totally disabled and meet other requirements are eligible to receive a homestead exemption.
Homestead Exemption​ Section 170 of the Kentucky Constitution also authorizes a homestead exemption for property owners who are at least 65 years of age or who have been determined to be totally disabled and are receiving payments pursuant to their disability. Find out more about the homestead exemption.
The Kentucky Department of Revenue has set the maximum homestead exemption at $46,350 for the 2023 and 2024 tax periods.
Under the Kentucky Constitution, property owners who are 65 or older are eligible to receive the homestead exemption on their primary residence. The homestead exemption is $40,500 for both 2021 and 2022.
Homestead tax exemptions usually offer a fixed discount on taxes, such as exempting the first $50,000 of the assessed value with the remainder taxed at the normal rate. With a $50,000 homestead exemption, a home valued at $150,000 would be taxed on only $100,000 of assessed value.
Submitting a Homestead Exemption Application Complete the Application for Exemption Under the Homestead/Disability Amendment.​ Gather any supporting documentation. Contact your local Property Value Adm​inistrator at Find My ​PVA.
The Kentucky Department of Revenue has set the maximum homestead exemption at $46,350 for the 2023 and 2024 tax periods.
The Kentucky Department of Revenue has set the maximum homestead exemption at $46,350 for the 2023 and 2024 tax periods.
