Example of Trimble County Property Tax Calculation
Trimble County calculates property taxes based on the assessed value of the property. To calculate the tax amount, the county multiplies the assessed value by the tax rate, which is set annually by the Trimble County Fiscal Court.
For example, if a property in Trimble County is assessed at $100,000 and the tax rate is 0.78%, the property tax amount would be $780. This calculation is done annually and property owners are typically billed twice a year for their property taxes.
It's important to note that the assessed value of a property can change over time due to factors such as renovations, additions, and changes in the real estate market. Property owners can appeal their assessed value if they believe it is inaccurate or unfair.
Overall, understanding how property taxes are calculated in Trimble County can help property owners be prepared for their tax bills and ensure they are paying the correct amount.
If you want appeal your property tax assessment - contact your local tax assessor.
Trimble County Property Tax Rates
The Trimble County Property Tax rates are as follows:
| Tax | Rate per $100 of Assessed Value |
|---|---|
| Real Property | $0.846 |
| Tangible Personal Property | $0.846 |
| Motor Vehicle | $0.460 |
| Utility | $0.333 |
These rates are subject to change and may vary depending on the specific location and property classification. It is recommended to consult with a qualified tax professional for further information and guidance regarding Trimble County Property Tax.
Who sets property tax rates in Trimble County ?
Who sets property tax rates in Trimble County?
The Trimble County Fiscal Court sets property tax rates in Trimble County. This is a five-member board of county officials responsible for fiscal management and decision-making. The court meets regularly throughout the year to discuss county matters, including tax rates.
When are property tax rates set in Trimble County?
Property tax rates in Trimble County are set annually, typically during the county's fiscal court meeting in the fall. During this meeting, the court will review the county's budget and determine the tax rate needed to fund county services and projects for the upcoming year.
How are property tax rates calculated in Trimble County?
Property tax rates in Trimble County are calculated based on the assessed value of the property and the tax rate set by the fiscal court. The assessed value of the property is determined by the Trimble County Property Valuation Administrator's office. The tax rate is calculated based on the county's budget needs and the assessed value of all taxable property in the county.
What is the current property tax rate in Trimble County?
As of the 2021-2022 fiscal year, the property tax rate in Trimble County is 12.2 cents per $100 of assessed value. This includes 7.4 cents for general county operations and 4.8 cents for the county library.
| Entity | Tax Rate (per $100 of assessed value) |
|---|---|
| General County Operations | 7.4 cents |
| County Library | 4.8 cents |
| Total | 12.2 cents |
It is important to note that property tax rates are subject to change annually and may vary based on location within the county.
Homestead exemptions in Trimble County ?
To help homeowners in Trimble County, Kentucky better understand their Homestead exemptions and deductions, we've compiled a table with all the county-specific information. Here are the key columns to look out for:
| Column | Description |
|---|---|
| Exemption | This column denotes the specific exemption or deduction being offered to eligible homeowners |
| Eligibility | This column outlines the eligibility criteria to be met by homeowners in order to qualify for the exemption or deduction |
| Amount | This column specifies the amount of the exemption or deduction that homeowners can expect to receive |
| Notes | This column provides any additional information or clarifications that homeowners may need to understand the exemption or deduction better |
Here's a list of all the Homestead exemptions and deductions available to homeowners in Trimble County:
| Exemption | Eligibility | Amount | Notes |
|---|---|---|---|
| General Exemption | Must be a primary resident of the property | Up to $39,300 of the assessed value of the property | |
| Homestead Deduction | Must be a primary resident of the property | Up to $39,300 of the assessed value of the property | Available to homeowners over 65 years old |
| Disability Exemption | Must be a primary resident of the property and meet disability criteria | Up to $39,300 of the assessed value of the property | Available to homeowners with permanent disabilities |
| Veterans Exemption | Must be a veteran or the unmarried widow of a veteran | Up to $39,300 of the assessed value of the property | Available to veterans who served during wartime or received a service-connected disability rating |
It's important to note that these exemptions and deductions may change over time, so homeowners should always confirm with the appropriate county authorities before making any financial decisions.
When is Trimble County Property Tax due ?
Trimble County Property Tax Due Date and Payment Methods
If you own a property in Trimble County in the state of Kentucky, you are required to pay property taxes each year. The Trimble County Property Tax is typically due on November 30th of each year. However, if November 30th falls on a weekend, the due date will be the next business day.
Payment Methods
There are several ways to pay your Trimble County Property Tax:
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In-Person: You can pay your property tax in person at the Trimble County Clerk's Office located at 30 Hwy 42 E, Bedford, KY 40006. The office is open Monday to Friday from 8:30 am to 4:00 pm.
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By Mail: You can also mail your payment to the Trimble County Clerk's Office at the same address mentioned above. Please make sure to include your property tax bill and a check or money order payable to "Trimble County Sheriff."
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Online: You can pay your property tax online by visiting the Trimble County Sheriff's Office website. You will need to provide your property tax bill number and the amount due to make a payment.
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By Phone: If you prefer to pay your property tax over the phone, you can call the Trimble County Clerk's Office at (502) 255-7174. You will need to have your property tax bill number and credit/debit card information ready.
In conclusion, Trimble County Property Tax is typically due on November 30th each year, and there are several methods available to make payments, including in-person, by mail, online, and by phone. Choose the option that works best for you and make sure to pay on time to avoid any penalties or late fees.
If you have more questions - contact your local tax collector.
How is Trimble County Property Tax penalty calculated ?
Trimble County Property Tax Penalty Calculation
Trimble County calculates property tax penalty based on the delinquency period of the tax payment. The penalty is calculated as a percentage of the unpaid tax amount.
Penalty Rates for Delinquency Periods
| Delinquency Period | Penalty Rate |
|---|---|
| 1-30 days | 2% |
| 31-60 days | 4% |
| 61-90 days | 6% |
| Over 90 days | 10% |
For example, if the property tax due is $2,000 and the payment is 45 days late, the penalty would be calculated as follows:
- 2% penalty for the first 30 days equals $40 (2% of $2,000)
- 4% penalty for the next 15 days equals $80 (4% of $2,000)
- Total penalty would be $120 (2% of $2,000 + 4% of $2,000)
Therefore, the total amount due including the penalty would be $2,120.
It is important for property owners to pay their property taxes on time to avoid additional penalty fees. If you have questions about your property tax payment in Trimble County, it is recommended to contact the local tax office for more information.
We recommend contacting the Trimble County Tax Office or a local tax professional for the most up-to-date and accurate information.