Example of Jessamine County Property Tax Calculation
In Jessamine County, property tax is calculated based on the assessed value of the property. The assessed value is determined by the local assessor's office, taking into account factors such as the size and condition of the property.
Once the assessed value is determined, the tax rate is applied to calculate the amount of property tax owed. The tax rate in Jessamine County is currently 1.18%, meaning that for every $100 of assessed value, the property owner must pay $1.18 in property tax.
For example, if a property in Jessamine County is assessed at a value of $200,000, the property tax owed would be calculated as follows:
$200,000 x 0.0118 = $2,360
Therefore, the property owner would be responsible for paying $2,360 in property taxes for the year. It is important to note that property taxes are typically paid annually and may be subject to change based on changes in assessed value or tax rates.
If you want appeal your property tax assessment - contact your local tax assessor.
Jessamine County Property Tax Rates
The table below lists the Jessamine County Property Tax rates, indicating the tax and the rate per $100 of the assessed value:
| Tax | Rate per $100 of Assessed Value |
|---|---|
| Real Estate | $0.970 |
| Tangible Personal Property | $0.410 |
| Motor Vehicles | $0.422 |
| Public Utilities | $3.000 |
Note that property tax rates may vary depending on the county and the state. It is recommended to consult with a tax professional for specific and detailed information.
Who sets property tax rates in Jessamine County ?
Who sets property tax rates in Jessamine County?
The Jessamine County Property Valuation Administrator's (PVA) office is responsible for assessing properties and determining the value of each property. Once the property values have been determined, the Jessamine County Fiscal Court sets the property tax rates based on the county's budgetary needs.
When are property tax rates set in Jessamine County?
Property tax rates are set annually in Jessamine County during the Fiscal Court's budget process, which typically takes place in the spring. The Fiscal Court reviews the county's financial needs and determines the appropriate tax rate to fund those needs. The new tax rates go into effect on July 1st each year.
| Who sets property tax rates? | Jessamine County Fiscal Court |
|---|---|
| When are property tax rates set? | Annually during the spring budget process |
| When do new tax rates go into effect? | July 1st each year |
Overall, property tax rates in Jessamine County are set by the Fiscal Court based on the county's budgetary needs, after the PVA's office determines the value of each property.
Homestead exemptions in Jessamine County ?
To help homeowners in Jessamine County, Kentucky understand the available homestead exemptions and deductions, a table has been created with the necessary information. Below are the columns and details that should be included:
Table Columns
- Exemption: This column will list the specific exemption that homeowners in Jessamine County are eligible for.
- Eligibility: This column will provide information on who can qualify for the exemption.
- Amount: This column will indicate the maximum amount that can be deducted from the homeowner's property tax bill.
- Notes: This column will include any additional information that homeowners should be aware of.
Jessamine County Homestead Exemptions and Deductions
| Exemption | Eligibility | Amount | Notes |
|---|---|---|---|
| General Homestead Exemption | Any homeowner who occupies their home as their primary residence | Up to $39,300 | Must apply by December 31st |
| Loss of Limb or Sight | Homeowners who have lost a limb or sight in one or both eyes | Up to $31,500 | Must have a certificate from a licensed physician |
| Disability | Homeowners who are totally and permanently disabled | Up to $39,300 | Must have a certificate from a licensed physician |
| Veterans Exemption | Honorably discharged veterans or their widows | Up to $59,000 | Must have served in active duty or be the widow of a veteran |
| Senior Citizen Exemption | Homeowners over the age of 65 | Up to $39,300 | Must have an annual income of less than $38,400 |
It's important for homeowners to note that these exemptions and deductions have specific criteria and deadlines for filing. It's recommended to review each exemption carefully and contact the Jessamine County Property Valuation Administrator's office for any questions or clarifications.
When is Jessamine County Property Tax due ?
Jessamine County Property Tax is typically due on October 15th of each year. There are several payment methods available for taxpayers:
| Payment Method | Details |
|---|---|
| Online | Taxpayers can pay online using a credit card or e-check through the Jessamine County Sheriff's Office website. A convenience fee may apply. |
| Payments can be mailed to the Jessamine County Sheriff's Office along with a check or money order. The address is 101 South Main Street, Nicholasville, KY 40356. | |
| In-person | Taxpayers can pay in person at the Jessamine County Sheriff's Office during business hours. Cash, check, or money order are accepted. |
It is important to note that failure to pay property taxes on time may result in penalties and interest fees. Therefore, taxpayers should make sure to pay their taxes by the due date to avoid these additional charges.
If you have more questions - contact your local tax collector.
How is Jessamine County Property Tax penalty calculated ?
Jessamine County Property Tax Penalty Calculation
If a property owner fails to pay their Jessamine County property tax by the due date, a penalty will be added to their tax bill. The penalty is calculated based on the amount of the unpaid taxes and the number of days past the due date.
Here is an example to illustrate how the penalty is calculated:
| Unpaid Taxes | Penalty Rate | Days Past Due | Penalty Amount |
|---|---|---|---|
| $2,000 | 1% | 30 | $60 |
In this example, the property owner owes $2,000 in property tax and fails to pay by the due date. The penalty rate in Jessamine County is 1% per month, which translates to a daily rate of 0.033%. The owner is 30 days past the due date, resulting in a penalty of $60 (2,000 x 0.033 x 30).
It is important for property owners in Jessamine County to pay their property tax on time to avoid penalties. If you have any questions or concerns about your property tax bill or penalty, it is recommended to contact the Jessamine County Property Valuation Administrator's office for assistance.
We recommend contacting the Jessamine County Tax Office or a local tax professional for the most up-to-date and accurate information.