Ky Homestead Exemption 2024. Propose to amend section 170 of the constitution of kentucky to include in the homestead exemption for owners who are 65 years of age or older any increase. By statute, the amount of the homestead exemption is recalculated every two years to adjust for inflation.
Available for residents aged 65 and over, the homestead exemption reduces your property taxes. The homestead exemption amount is determined by the legislature every 2 years based upon the cost of living index.
The Homestead Exemption Is An Exemption That Reduces The Assessed Value Of A Home By A Set Amount For The Owners Who Qualify.
Looking for tax relief following your lexington property assessment?
To Qualify For The Homestead Exemption, A Person Must Be At Least 65 Years Old During The Tax Period Or Classified As Totally Disabled By Any Public Or Private.
To learn more about this exemption or to apply, visit the boone county pva.
For 2023 And 2024, The Amount Of The Exemption Is $46,350.
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The Homestead Exemption Is An Exemption That Reduces The Assessed Value Of A Home By A Set Amount For The Owners Who Qualify.
Homestead exemption deadline is march 1, the kentucky department of revenue has set the maximum homestead exemption at $46,350 for the 2023.
By Statute, The Amount Of The Homestead Exemption Is Recalculated Every Two Years To Adjust For Inflation.
Kentucky’s constitution allows property owners who are 65 or older to receive the homestead exemption on their primary residence.
According To Kentucky Statutes, The Exemption Amount Is Reviewed Every Two Years To Reflect The Increase In The Cost Of Living Index Used By The United States Department Of.