The Kentucky capitol building in Frankfort.
By MICHAEL CRIMMINS
Glasgow News 1
Kentucky’s real property tax rate has been reduced for the fifth consecutive year, but people still might see an increase based on the property’s value.
Recently, in a Team Kentucky Update, Governor Andy Beshear announced that the state’s tax on real property, which is the tax applied to land and anything permanently attached to it, has been lowered from 10.9 cents to 10.6 cents per $100 of assessed value. Due to the 2024 assessment increase of 7.54 percent, the Kentucky Department of Revenue reduced the tax rate “to keep state revenues from real property tax to no more than a 4 percent increase over the 2024 receipts.”
“The state property tax rate is based on the revenue generated from the increase in taxable real property assessments from 2024 to 2025,” the state’s department of revenue stated. “If the increase in revenue is more than 4 percent after the exclusion of both new properties added to the tax roll during 2024, and the property subject to Tax Increment Financing, then the prior year’s rate must be reduced.”
Barren County’s real property tax rate is 13 cents per $100, according to the county budget.
Kentucky property has been increasing in value. According to Kentucky REALTORS, the largest professional association of realtors in the commonwealth, the median house in Kentucky is selling for $285,000, an increase of 4 percent year-over-year and 2.2 percent over the previous month. Barren County land sells for an average of $14,783 per acre, according to Land.com.
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