Property taxes are a form of an ad valorem tax which is a tax based on assessed monetary value. Fiscal courts levy property taxes on real property, such as land and buildings, and tangible property, such as motor vehicles and equipment.
- All 120 counties levy property taxes.
- Real property makes up the largest source of property tax revenue: real property tax revenue* in FY 2023 was $233.1 million while total property tax revenue was $302.2 million.
- In 2024, fiscal court real property tax rates ranged from 3.2 cents/$100 of assessed value to 44 cents/$100 assessed value, with a median rate of 10.7 cents/$100 assessed value.
- County reliance on property tax revenue has declined over the past decade. In FY 2010, property taxes made up 42.6 percent of county* tax revenue. By FY 2023, property taxes made up only 34.7 percent of county tax revenue.
*Excluding Fayette and Jefferson counties.
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