State
Kentucky
Year
2021
Variations in Receipt of Benefit
No Variation in Receipt of Benefits
Benefit Type
Assessment Freeze
Benefit
Assessed value remains fixed at the value of property the first year that the owner qualifies for and receives the homestead exemption. The maximum exemption in 2021 is $40,500.
How is Benefit Disbursed
Exemption from assessed value
Eligible Property Type
Residential
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.
Eligibility Criteria
Age
Disability
Homeowner
Principal Residence
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.
Record ID
KY101_RR21
Footnotes
Sources
Ky. Rev. Stat. Ann. § 132.810 (in effect for 2021)
Homestead Exemption Allowance for 2021 and 2022
[https://revenue.ky.gov/Property/Residential-Farm-Commercial-Property/PublishingImages/Pages/Homestead-Exemption/Homestead%20Exemption%20for%202021-2022.pdf accessed 01/20/2022]
View Archived Source
Kentucky Department of Revenue, Application for Exemption Under the Homestead Amendment, 62A350 (2016)
[https://revenue.ky.gov/Forms/62A350.pdf accessed 01/20/2022]
View Archived Source
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 01/20/2022]
View Archived Source