Fleming County property tax

Example of Fleming County Property Tax Calculation

Fleming County property tax is calculated by multiplying the assessed value of a property by the property tax rate. For example, if a property in Fleming County has an assessed value of $100,000 and the property tax rate is 1%, the property tax would be $1,000. This tax is used to fund local services such as schools, roads, and emergency services. It is important for property owners to understand and stay up to date on their property tax payments to avoid penalties or potential legal issues.

If you want appeal your property tax assessment - contact your local tax assessor.

Fleming County Property Tax Rates

Fleming County Property Tax Rates

These are the current property tax rates in Fleming County, with rates stated per $100 of assessed value. The rates vary depending on the type of property being taxed, with real property being taxed at a rate of $0.931, tangible property at a rate of $1.183, and motor vehicle at a rate of $0.455. Public service corporations are taxed at a rate of $0.280, while agricultural land preservation is taxed at a rate of $0.018. It is important to note that these rates may be subject to change, so property owners should consult with their tax advisor or local tax authority for the most up-to-date information.

Who sets property tax rates in Fleming County ?

In Fleming County, property tax rates are determined by the fiscal court. The fiscal court is responsible for setting the tax rate each year, which typically occurs in the month of September. The rate is then applied to the assessed value of the property, which is determined by the county property valuation administrator. Property tax revenue is an important source of funding for local government services, such as schools, roads, and public safety. It is important for property owners in Fleming County to understand how the tax rate is set and how it impacts their financial obligations.

Homestead exemptions in Fleming County ?

To assist the taxpayers in Fleming County, Kentucky, this article will create a table that lists all the county-specific Homestead exemptions and deductions. The table will include the columns: exemption, eligibility, amount, and notes.

The General Homestead exemption applies to the primary residence of the taxpayer in Fleming County. The exemption allows for a $39,300 reduction in the assessed value of the property, which translates into a lower property tax bill.

The Elderly/Disabled Homestead exemption is applicable to the primary residence of taxpayers who are either 65+ years of age or disabled. This exemption provides an $80,000 reduction in the assessed value of the property. However, the taxpayer must apply and qualify for this exemption.

The Exemption for Military Veterans applies to the primary residence of military veterans. The exemption provides a $37,600 reduction in the assessed value of the property, and the veteran must provide proof of military service to qualify for this exemption.

Finally, the Exemption for Disabled Veterans offers a 100% exemption from property tax for the primary residence of veterans who have been deemed 100% disabled due to their military service. To qualify for this exemption, the veteran must provide a proof of disability and military service.

In summary, these Homestead exemptions and deductions can significantly help taxpayers in Fleming County, Kentucky, reduce their property tax bills. Taxpayers should make sure to apply for the exemptions they are eligible for to take advantage of these benefits.

When is Fleming County Property Tax due ?

Fleming County Property Tax is typically due on October 15th each year. Property owners must pay their taxes by this date to avoid penalties and interest fees. There are multiple payment methods available for property owners to pay their taxes. These methods include:

• In-person: Property owners can pay their taxes in person at the Fleming County Sheriff's Office located at 201 Court Square, Flemingsburg, KY 41041. Payment can be made by cash, check, or money order.

• By mail: Property owners can mail their tax payment to the Fleming County Sheriff's Office at P.O. Box 175, Flemingsburg, KY 41041. Payment can be made by check or money order.

• Online: Property owners can pay their taxes online through the Fleming County Sheriff's Office website using a credit or debit card. A convenience fee will be charged for this service.

• By phone: Property owners can also pay their taxes over the phone using a credit or debit card. A convenience fee will be charged for this service.

It is important for property owners to pay their taxes on time to avoid penalties and interest fees. If you have any questions about your property tax payment or the payment methods available, you can contact the Fleming County Sheriff's Office at (606) 845-4701.

If you have more questions - contact your local tax collector.

How is Fleming County Property Tax penalty calculated ?

Fleming County Property Tax penalty is calculated based on the amount of tax owed and the number of days the payment is late.

Here's an example:

Assume that Jane owns a property in Fleming County and her property tax bill is $2,000. She is supposed to pay the full amount by the due date, which is usually January 31st. However, she misses the due date and pays the tax bill on February 15th.

In this case, Jane will be subject to a penalty for the late payment of her property tax. The penalty for late payment in Fleming County is 2% of the tax owed plus interest.

To calculate Jane's penalty, we first calculate the number of days the payment is late. In this case, the payment is 15 days late (February 15th minus January 31st).

Next, we calculate the interest. Fleming County charges an interest rate of 1% per month, or 12% annually, on unpaid taxes. So, for 15 days, the interest rate is 0.5% (half of 1%).

The penalty for late payment is then calculated by adding the interest and the 2% penalty fee.

In Jane's case, the penalty would be:

• 2% penalty fee: $2,000 x 2% = $40
• Interest: $2,000 x 0.5% = $10

Total penalty: $40 + $10 = $50

Therefore, Jane's total property tax bill would be $2,050 ($2,000 tax owed + $50 penalty).

It's important to note that the penalty for late payment increases over time. If Jane had paid her tax bill several months late, she would have incurred a higher penalty based on the number of days the payment is overdue.

We recommend contacting the Fleming County Tax Office or a local tax professional for the most up-to-date and accurate information.

Fleming County tax offices:

• Fleming County tax assessor
• Fleming County tax collector
• Fleming County tax commissioner
• Fleming County tax appraiser
• Fleming County tag office