Get 62a500 2023-2024

Section 170 of the Kentucky Constitution authorizes exemption from property taxation for the following types of organizations: Government owned property. Institutions of education. Religious institutions. Public libraries. Cemeteries not held for private or corporate profit. Institutions of purely public charity.

Complete Revenue Form 62A500 for each fluidized bed energy production facility. The return must contain only the assessment for the facility. File the return with the Division of State Valuation, Revenue Cabinet, Frankfort, KY 40620.

Tangible personal property is every physical item subject to ownership, except real and intangible property. Lessors and Lessees of Tangible Personal Property—Leased property must be listed by the owner on Revenue Form 62A500, regardless of the lease agreement's terms regarding tax liability.

Property taxes in in Kentucky are relatively low. The typical homeowner in Kentucky pays just $1,382 annually in property taxes, around half the national median. The state's average effective property tax rate is 0.80%.

Over the years, the State real property tax rate has declined from 31.5 cents per $100 of assessed valuation to 12.2 cents due to this statutory provision....House Bill 44. 2019 Real Property Assessment​$50,000,000​2019 Personal Property Tax Rate​X .0030​2019 Revenue from Personal Property​$ 30,0004 more rows

All mobile homes and recreational vehicles located within Kentucky on January 1 each year are subject to all property tax levies applicable to other property subject to full state and local rates.

Tangible personal property includes equipment, supplies, and any other property (including information technology systems) other than that is defined as an intangible property. It does not include copyrights, patents, and other intellectual property that is generated or developed (rather than acquired) under an award.

The 1½ cent per $100 tax rate applies to accounts receivable and “any other intangible property rights arising out of or created in the course of regular and continuing business transactions substantially performed outside this state” (KRS 132.020).