KY Property Tax Rate Unchanged for Coming Year

By: Associated Press
By: Associated Press

FRANKFORT, Ky. (AP) — The Kentucky Department of Revenue has announced that the state's property tax rate will remain the same for the coming year.

That means Kentuckians will continue to pay 12.2 cents on each $100 worth of property.

The state is required to set the property tax rate no later than July 1 of each year. It's based on growth in property tax assessments, which are expected to rise only about 1.32 percent in 2013.

Revenue generated from the state property tax goes into the General Fund, which pays for most government programs and services.

(Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

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