Do you really own your property? I’m sure many Kentuckians have asked themselves this when the property tax bill arrives every year. Even if your property is fully paid off, every year you get that bill from the sheriff’s office.
Property taxes are a big component in funding local government budgets and each county is different. On average, property taxes fund 35% of the county tax revenue. However, unlike the state sales tax, which is 6% across every county, property taxes are decided by the local government based on their budgetary needs. For example, in Oldham County you can expect to pay on average $2,244 (0.96% of the home value) a year compared to Wolfe County which pays around $293 (0.54% of the home value).
By Tanner Willis…