Variations in Receipt of Benefit
No Variation in Receipt of Benefits
Assessed value remains fixed at the value of property the 1st year that the owner qualifies for and receives the homestead exemption. The maximum exemption in 2017 is $37,600.
How is Benefit Disbursed
Exemption from assessed value
Eligible Property Type
Characteristics of Eligible Property
Only residential property is eligible for this program. However, mobile homes, when classified as real property, are also eligible for the exemption.
Description of Eligibility Criteria
Applicants must be 65 years or older, or totally disabled, qualified under a program authorized or administered by the United States government or by any retirement system. Eligible property must be maintained as a personal residence.
Local Option in Adoption of Program
Local government is unable to exercise an option
Local Option Regarding Program Features
No local option regarding program features
State Funding for Local Tax Loss
State reimburses all of the local government tax loss
Description of State Funding for Tax Loss
The state reimburses the county.
[https://revenue.ky.gov/Property/Documents/Homestead%20Exemption%20Allowance%20for%202017%20and%202018.pdf accessed 07/09/18]
Kentucky Department of Revenue, Application for Exemption Under the Homestead Amendment, (2017)
[https://revenue.ky.gov/Forms/62A350.pdf accessed 07/09/2018]
Department of Revenue - Jefferson County PVA Office, Application for Exemption Under the Homestead Amendment, (2017)
[https://jeffersonpva.ky.gov/wp-content/uploads/2018/04/HDExemptionApplication-Writable022017.pdf accessed 07/09/2018]
Kentucky Department of Revenue, Homestead Exemption Application Qualification, (2017)
[http://www.lrc.ky.gov/Statutes/statute.aspx?id=39641 accessed 07/09/2018]
[https://revenue.ky.gov/Property/Residential-Farm-Commercial-Property/Pages/Homestead-Exemption.aspx Accessed on 07/09/2018]
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