Tax & Accounting Blog

2013 Property Tax Rates for Kentucky

Blog, ONESOURCE, ONESOURCE Property Tax August 6, 2013

The Kentucky Department of Revenue and the Finance and Administration Cabinet have published the 2013 tax rates and multipliers.

Real Property Tax Rate

The Kentucky Department of Revenue  declares that the 2013 state real property tax rate will not change from 2012 and will stay at 12.2¢ per $100 of assessed value.  The tax rate is contingent on the amount of revenue generated from real property assessments each year.  Excluding new property added to the 2013 tax roll, if the assessment increase is 4% or more, then the previous year’s tax rate must be reduced for the current year. Since the assessment increase for 2013 is around 1.32%, the state rate will remain the same.

State 4-R Rate

The Kentucky Finance and Administration Cabinet has published the 2013 Railroad Revitalization and Regulatory Reform (4-R) Kentucky property tax rates and local multiplier. The tangible property state rate is 22.66¢ per $100 of assessed value (down from 22.82¢ in 2012). The total state and local rate is 64.98¢ per $100 of assessed value (down from 66.01¢ in 2012). This rate is applied on railroad car lines and apportioned vehicles since the state and local taxes are collected together at the state level. For interstate railroads and commercial passenger and freight airlines, only the state tax is collected at the state level.  The local multiplier is applied to local taxes, which is at 51% for 2013 (the same as 2012).