Example of Powell County Property Tax Calculation
Powell County calculates property tax based on the assessed value of the property. The assessed value is determined by the Powell County Property Valuation Administrator (PVA).
To calculate the property tax, the assessed value is multiplied by the tax rate. For example, if the assessed value of the property is $100,000 and the tax rate is 1%, the property tax would be $1,000.
It's important to note that the tax rate can vary depending on the location of the property and the type of property, such as residential or commercial.
Homeowners may be eligible for exemptions or deductions that could lower their property tax amount. This could include exemptions for elderly or disabled homeowners, as well as deductions for energy-efficient upgrades or home renovations.
Overall, understanding how property taxes are calculated in Powell County can help homeowners budget for their expenses and plan for any potential changes in tax rates or exemptions.
If you want appeal your property tax assessment - contact your local tax assessor.
Powell County Property Tax Rates
The following table shows the Powell County Property Tax rates per $100 of assessed value:
| Tax | Rate per $100 of Assessed Value |
|---|---|
| County General | $0.877 |
| County Schools | $0.763 |
| State Schools | $0.300 |
| Health Department | $0.023 |
| Soil Conservation | $0.005 |
It is important to note that the rates may vary depending on the specific location or property classification within Powell County. It is recommended to consult with a tax expert for specific information and advice.
Who sets property tax rates in Powell County ?
- Who sets property tax rates in Powell County?
The Powell County Board of Supervisors is responsible for setting property tax rates within the county.
- When are property tax rates set in Powell County?
Property tax rates in Powell County are typically set annually, during the budget planning process. The Board of Supervisors considers various factors, such as county expenses and revenue projections, when determining the tax rate.
| Responsibility | Entity |
|---|---|
| Setting Property Tax Rates | Powell County Board of Supervisors |
Homestead exemptions in Powell County ?
For anyone looking to purchase or own property in Powell County, Kentucky, it's important to understand the county's specific Homestead exemptions and deductions. These exemptions and deductions can help to reduce property taxes and make homeownership more affordable. Here's a breakdown of the exemptions and deductions available in Powell County, organized in a table format for easy reference:
| Exemption | Eligibility | Amount | Notes |
|---|---|---|---|
| Homestead | Any homeowner who uses their property as their primary residence | Up to $37,600 of assessed property value | Must be applied for by January 1st of the tax year. This exemption cannot be combined with other exemptions or deductions. |
| Disability | Homeowners who have a documented disability | Up to $37,600 of assessed property value | Must be applied for by January 1st of the tax year. This exemption cannot be combined with other exemptions or deductions. |
| Veterans | Honorably discharged veterans or their surviving spouses | Up to $37,600 of assessed property value | Must provide proof of military service. This exemption cannot be combined with other exemptions or deductions. |
| Personal | Any homeowner | Up to $2,000 of assessed property value | Applies to all types of property, not just primary residences. |
| Tangible | Any homeowner | Up to $1,000 of assessed property value | Applies to personal property such as vehicles and boats. |
| Agricultural | Property that is actively used for agriculture purposes | Up to $39,300 of assessed property value | Must meet certain criteria outlined by the state. |
| Pollution | Property that has been contaminated or is in danger of contamination | Up to $1,000 of assessed property value | Must provide documentation of the contamination. |
| Historic | Historic properties that have been designated by the state or national historic register | Varies depending on the property | Must meet certain criteria outlined by the state. |
It's important to note that these exemptions and deductions may change over time or be subject to local laws and regulations. Homeowners in Powell County should always consult with their local tax assessor's office for the most up-to-date information regarding these exemptions and deductions.
When is Powell County Property Tax due ?
According to the Powell County Treasurer's office, property taxes are typically due on November 1st of each year. However, taxpayers have until the end of the month, November 30th, to pay without penalty.
There are several payment methods available for Powell County property taxes, including:
| Payment Method | Details |
|---|---|
| In-person | Payments can be made at the Powell County Treasurer's office located at 409 Missouri Ave. in Deer Lodge, Montana. The office is open Monday through Friday, from 8:00 a.m. to 5:00 p.m. |
| By mail | Payments can be mailed to the Powell County Treasurer's office at P.O. Box 530, Deer Lodge, MT 59722. Payments must be postmarked no later than November 30th to avoid penalty. |
| Online | Payments can be made online through the Powell County Treasurer’s website using a credit card or electronic check. A small convenience fee is charged for using this method. |
It is important for taxpayers to note that if they do not pay their property taxes by November 30th, penalties and interest will accrue. Therefore, it is recommended that taxpayers make every effort to pay their taxes on time or contact the Treasurer's office if they need assistance with payment arrangements.
If you have more questions - contact your local tax collector.
How is Powell County Property Tax penalty calculated ?
Powell County Property Tax Penalty Calculation
When a property owner fails to pay their property taxes in Powell County, Kentucky, a penalty will be added to their tax bill. The penalty is calculated based on the amount of the unpaid taxes.
The penalty is equal to 10% of the unpaid taxes if the payment is made within 60 days of the tax bill's due date. If the payment is not made within 60 days, an additional 1% interest will be added to the penalty for every month that the payment is late.
Here is an example to illustrate the penalty calculation:
Suppose a property owner in Powell County has an annual property tax bill of $2,000. The due date for the tax bill is October 1st, and the property owner fails to pay by this date.
If the property owner pays the bill within 60 days of the due date (by November 30th), the penalty will be 10% of the unpaid taxes, which is $200. Therefore, the total amount owed would be $2,200.
However, if the property owner does not pay until January 1st, two months after the due date, an additional 2% interest (1% per month) will be added to the penalty, increasing it to $240. Therefore, the total amount owed would be $2,240.
It is important for property owners in Powell County to pay their property taxes on time to avoid accruing penalties and interest.
We recommend contacting the Powell County Tax Office or a local tax professional for the most up-to-date and accurate information.