Example of Oldham County Property Tax Calculation
Oldham County calculates property taxes by multiplying the assessed value of a property by the tax rate set by the county. For example, if a 10-year-old's family owns a home with an assessed value of $250,000 and the tax rate is 0.015, the property tax would be $3,750 ($250,000 x 0.015). It's important to note that the assessed value is not always the same as the market value of a property and can be lower. Additionally, tax rates can vary depending on the location and type of property.
If you want appeal your property tax assessment - contact your local tax assessor.
Oldham County Property Tax Rates
Here is a formatted table listing Oldham County Property Tax rates:
| Tax | Rate per $100 of Assessed Value |
|---|---|
| Oldham County | 0.8625 |
| City of La Grange | 0.265 |
| City of Pewee Valley | 0.224 |
| City of Crestwood | 0.2 |
| City of Orchard Grass Hills | 0.2 |
| Oldham County School District | 1.142 |
Oldham County has a property tax rate of 0.8625 per $100 of assessed value. The cities within the county also have a property tax rate: La Grange has a rate of 0.265, Pewee Valley has a rate of 0.224, Crestwood has a rate of 0.2, and Orchard Grass Hills also has a rate of 0.2. Additionally, the Oldham County School District has a property tax rate of 1.142 per $100 of assessed value.
Who sets property tax rates in Oldham County ?
Overview:
Property tax rates in Oldham County are determined by various entities depending on the type of property and location. Generally, the Oldham County Property Valuation Administrator (PVA) is responsible for assessing the value of the property, while the local government sets the tax rate.
Residential Property Tax:
For residential properties, the Oldham County PVA establishes the fair market value of the property based on factors such as location, property size, and condition. The PVA then applies the state-mandated assessment rate, which is currently 12.2% for residential properties. This assessed value is then multiplied by the tax rate set by the local government, which consists of the county, city, and school district taxes.
Commercial Property Tax:
Commercial properties are assessed in a similar way, with the PVA determining the fair market value and the local government setting the tax rate. However, the assessment rate for commercial properties is higher than for residential properties, currently at 33.3%.
When are Property Taxes Due?
Property taxes in Oldham County are due on November 1st of each year, and become delinquent on the following January 1st. Property owners receive a tax bill each year with the assessed value and the tax rate for their property.
Conclusion:
In summary, property tax rates in Oldham County are set by the local government and are based on the assessed value of the property established by the Oldham County PVA. Property owners should ensure they receive and pay their tax bills on time to avoid penalties and interest charges.
Homestead exemptions in Oldham County ?
To ensure that you're getting the most out of your Homestead exemptions and deductions in Oldham County, Texas, it's important to understand what options are available to you. Here is a breakdown of the county-specific exemptions and deductions you can take advantage of:
| Exemption/Deduction | Eligibility | Amount | Notes |
|---|---|---|---|
| County Residence Homestead Exemption | Any homeowner who resides in Oldham County | 20% of the home's appraised value | Only applies to the primary residence |
| Disabled Veteran's Homestead Exemption | Any veteran with a service-related disability rating of 10% or higher | Up to $12,000 of the home's appraised value | Only applies to the primary residence |
| Over-65 Homestead Exemption | Any homeowner who is 65 years or older | $10,000 of the home's appraised value | Only applies to the primary residence |
| Disabled Person's Homestead Exemption | Any homeowner who is disabled | $10,000 of the home's appraised value | Only applies to the primary residence |
| Optional Percentage Homestead Exemption | Any homeowner who resides in Oldham County | Up to 20% of the home's appraised value | Only applies to the primary residence |
| General Residential Homestead Exemption | Any homeowner who resides in Oldham County | 20% of the home's appraised value | Only applies to the primary residence |
| School District Taxes - Over 65 or Disabled Person's Additional Homestead Exemption | Any homeowner who is 65 years or older or disabled | Up to $10,000 of the home's appraised value | Only applies to school district taxes |
It's important to note that in order to receive these exemptions and deductions, you must apply for them with the Oldham County Appraisal District. Make sure to take advantage of these opportunities to decrease your property tax burden.
When is Oldham County Property Tax due ?
In Oldham County, Kentucky, property taxes are typically due on November 1st of each year. However, taxpayers are given a grace period until December 31st to make their payments without incurring any additional fees or penalties. It's important to note that any payments received after December 31st will be subject to interest and penalty fees, which can quickly add up.
To ensure a smooth and timely payment process, there are several options available to taxpayers in Oldham County. These include:
| Payment Method | Description |
|---|---|
| Online | Taxpayers can make payments online through the Oldham County Sheriff's Office website using a credit or debit card. A convenience fee of 2.75% of the total payment amount will apply. |
| Payments can be mailed to the Oldham County Sheriff's Office with a postmark no later than December 31st. | |
| In Person | Taxpayers can make payments in person at the Oldham County Sheriff's Office during regular business hours. Cash, check, and credit/debit card payments are accepted. |
| Drop Box | A drop box is available outside the Oldham County Sheriff's Office for after-hours payments. Payments must be in the form of a check or money order. |
Overall, it's important for taxpayers in Oldham County to stay aware of the due date for property taxes and to choose a payment method that works best for their individual needs. By being proactive and timely with their payments, taxpayers can avoid additional fees and penalties and ensure that they remain in good standing with the county.
If you have more questions - contact your local tax collector.
How is Oldham County Property Tax penalty calculated ?
Oldham County Property Tax Penalty Calculation
When a property owner in Oldham County fails to pay their property taxes on time, they will incur a penalty. The penalty is calculated based on the amount of taxes owed and the length of time the taxes have been outstanding.
Late Payment Penalties
The late payment penalty is added to the property tax bill on the first day of the month following the due date. The penalty rate starts at 5% and increases by 1% each month until the taxes are paid in full.
Here is an example of how the late payment penalty would be calculated for a property owner who owes $10,000 in property taxes:
| Month | Penalty Rate | Penalty Amount |
|---|---|---|
| 1 | 5% | $500 |
| 2 | 6% | $600 |
| 3 | 7% | $700 |
| 4 | 8% | $800 |
| 5 | 9% | $900 |
| 6 | 10% | $1,000 |
| 7 | 10% | $1,000 |
| 8 | 10% | $1,000 |
| 9 | 10% | $1,000 |
| 10 | 10% | $1,000 |
| 11 | 10% | $1,000 |
| 12 | 10% | $1,000 |
As you can see from the example, the penalty increases each month until it reaches the maximum rate of 10%. After reaching the maximum, the penalty remains at 10% until the taxes are paid in full.
Delinquent Taxes
If property taxes remain unpaid for an extended period, the property owner may face additional penalties and legal action. After two years of delinquency, the property may be sold at a tax sale to satisfy the outstanding tax debt.
It's important for property owners in Oldham County to pay their property taxes on time to avoid penalties and potential legal issues. If you have questions about your property tax bill or payment options, contact the Oldham County Clerk's office for assistance.
We recommend contacting the Oldham County Tax Office or a local tax professional for the most up-to-date and accurate information.