Kentucky’s real property tax rate is dropping for the third consecutive year, decreasing to 11.4 cents per $100 of assessed value in 2023.
The new tax rate took effect at the beginning of July.
The tax decrease is very small, dropping from 11.5 cents per $100 the prior year.
How much the tax decreases is dictated by Kentucky state law. Because the assessment increase for 2023 is estimated at 4.27 percent, the state real property tax rate must be reduced to 11.4 cents per $100 of assessed value to keep state revenues from real property tax to no more than a 4 percent increase over the 2023 receipts.