Property tax is a type of tax imposed on real estate properties by the government to fund public services such as schools, roads, and emergency services. In Kentucky, property tax is calculated based on the assessed value of the property and the tax rate set by the local government.The property tax rate in Kentucky varies depending on the county and city. According to data from the Tax Foundation, the average effective property tax rate in Kentucky is 0.86%, which is lower than the national average of 1.07%. However, the property tax rate can still be a significant expense for homeowners and landlords.
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 states average effective property tax rate is 0.80%.
