Example of Casey County Property Tax Calculation
Casey County property tax calculation is done based on the assessed value of the property multiplied by the tax rate. For example, if a property in Casey County has an assessed value of $100,000 and the tax rate is 1%, the property tax would be $1,000. This is calculated by multiplying the assessed value ($100,000) by the tax rate (1% or 0.01). The property owner would be responsible for paying this amount to the county treasurer's office. It is important to note that the assessed value can change from year to year, based on factors such as renovations, additions, or fluctuations in the housing market.
If you want appeal your property tax assessment - contact your local tax assessor.
Casey County Property Tax Rates
Here are the property tax rates for Casey County presented in a formatted table:
| Tax | Rate per $100 of Assessed Value |
|---|---|
| County Property Tax | $0.893 |
| School District Tax | $0.785 |
| Health Department Tax | $0.042 |
| Library Tax | $0.159 |
| Soil Conservation Tax | $0.026 |
| Extension Service Tax | $0.021 |
It is important to note that these rates may vary depending on the specific property and its assessed value. Property owners in Casey County should consult with a licensed tax advisor for personalized advice on their tax obligations.
Who sets property tax rates in Casey County ?
In Casey County, property tax rates are set by the Casey County Fiscal Court, which is composed of elected officials including the county judge-executive and magistrates. The fiscal court assesses the value of all taxable property in the county and determines the amount of revenue needed to fund the county's budget. The property tax rate is then set to generate that revenue. The tax rates are typically reviewed and updated annually, with public hearings held to allow input from residents. Property owners in Casey County are responsible for paying property taxes by the deadline set by the fiscal court.
Homestead exemptions in Casey County ?
To help homeowners in Casey County, Kentucky, the county government offers various Homestead exemptions and deductions. The following table summarizes the exemptions and deductions that residents can apply for to lower their property tax bills.
| Exemption | Eligibility | Amount | Notes |
|---|---|---|---|
| Homestead | All homeowners who live in their home as their primary residence | Up to $39,300 off the assessed value of the property | Must be applied for by January 1 of the tax year |
| Disability | Homeowners who are totally and permanently disabled or blind | Up to $37,600 off the assessed value of the property | Must provide proof of disability and apply by January 1 of the tax year |
| Age 65 or Older | Homeowners who are 65 years old or older | Up to $39,300 off the assessed value of the property | Must provide proof of age and apply by January 1 of the tax year |
| Veterans | Homeowners who are veterans with 100% service-connected disability | Up to $39,300 off the assessed value of the property | Must provide proof of disability and apply by January 1 of the tax year |
| Surviving Spouse | Surviving spouses of veterans killed in action or who died as a result of a service-connected disability | Up to $39,300 off the assessed value of the property | Must provide proof of eligibility and apply by January 1 of the tax year |
It's important to note that these exemptions and deductions are county-specific and may vary from other counties in Kentucky. Additionally, homeowners must apply for these exemptions or deductions by January 1 of the tax year to be eligible.
By taking advantage of these Homestead exemptions and deductions, homeowners in Casey County can potentially save thousands of dollars on their property taxes.
When is Casey County Property Tax due ?
According to the Casey County Clerk's Office website, property taxes are typically due on November 1st of each year. However, taxpayers have until January 31st of the following year to pay without incurring penalties.
There are several methods of payment available:
- In-person at the Casey County Clerk's Office
- By mail (check or money order)
- Online through the county's website (credit card only)
It's important to note that if you choose to pay online, there is an additional processing fee. Also, if you choose to pay in installments, there are specific deadlines that must be met.
It's recommended to contact the Casey County Clerk's Office for more information on payment methods and deadlines.
If you have more questions - contact your local tax collector.
How is Casey County Property Tax penalty calculated ?
The penalty for Casey County Property Tax is calculated based on the amount of time the payment is overdue. The penalty is added to the original amount owed and increases the longer the payment remains outstanding. Here is an example to help illustrate the calculation:
- Original Tax Amount Owed: $1,000
- Due Date: September 30th
- Penalty Calculation:
- 5% penalty is added on October 1st ($50)
- Additional 1% penalty is added on November 1st ($10)
- Additional 1% penalty is added on December 1st ($10)
- Additional 1% penalty is added on January 1st ($10)
- Total penalty added: $80
- Total Amount Owed: $1,080
It's important to note that the penalty percentage rates may vary by state and county, so it's always best to check with the local tax authority for specific information. It's also important for property owners to pay their taxes on time to avoid penalties and potential consequences such as a lien on the property or even foreclosure.
We recommend contacting the Casey County Tax Office or a local tax professional for the most up-to-date and accurate information.