Kentucky’s Homestead Exemption for Property Owners
Kentucky’s Constitution allows property owners who are 65 or older to receive the Homestead Exemption on their primary residence. If you are eligible to receive the Homestead Exemption, the exemption amount is subtracted from your property’s assessed value, reducing your property tax liability.
The Homestead Exemption for 2017-2018 is $37,600
To qualify for the Homestead Exemption a property owner must:
- Be 65 years or older
- Own and Occupy the property as your primary residence prior to January 1st
Only one exemption (Homestead or Disability) is allowed per household. Once approved for the Homestead Exemption, you are not required to reapply annually. You are eligible for the Homestead Exemption on residential or commercial property as long as you own and occupy the property as your primary residence and meet all other qualifying criteria. If you move, it is your responsibility to notify the county tax assessor’s office and reapply for the exemption on your new residence.
As always, you can count on Tony Clark Realtors to look out for our clients’ best interest. As active members of our community, your local Realtors are the leading advocates for private property rights and smooth, successful purchases of real estate. Please contact Tony Clark Realtors 270-926-0055 when you’re ready to make a move with real estate.
Tony Clark Realtors believes everyone should feel confident when buying and selling a home. We are here to be your trusted adviser. Since 1976, we are the Owensboro Kentucky market expert.
Tony Clark Realtors | 2934 Frederica Street Owensboro, Kentucky | (270) 683-SOLD
Tony Clark Realtors®, LLC is located in Owensboro, KY, and has been representing home buyers and home sellers for over 40 years. Tony Clark Realtors® is also trusted by many property owners to manage their rental properties, having one of the largest portfolios of rental properties available in the area. When you choose Tony Clark Realtors® for your real estate needs, you can have peace of mind as to the high value and quality of service you'll receive.