Q: When are property taxes due in Graves County for FY 2025-2026?
A: Property taxes are due by November 1st to receive a 2% discount. After November 1st, taxes are payable at face value without discount.
Q: What tax credits are available and do I need to apply?
A: The primary tax credit is the homestead exemption of $49,100 for assessment years 2025-2026, which reduces your assessed value. This credit requires a separate application and is not automatic. Additional credits may be available for seniors (65+) or disabled property owners under Section 170 of the Kentucky Constitution.
Q: How does the homestead credit work?
A: The homestead credit reduces your property's assessed value by $49,100, not your tax bill directly. For example, if your home is assessed at $300,000, the credit reduces the taxable assessment to $250,900. You must apply for this credit - it is not automatically applied.
Q: What is the penalty for late property tax payments?
A: After November 1st, you lose the 2% discount. Additional penalties and interest may apply for payments made significantly after the due date. Contact the Graves County Clerk's Office for specific penalty information.
Q: How often are properties reassessed in Graves County?
A: Kentucky conducts countywide property reassessments periodically through the Department of Revenue. Between reassessments, individual properties may be reviewed if there are improvements, sales, or other changes affecting value.
Q: Can I appeal my property tax assessment?
A: Yes, property owners can appeal their assessments. Appeals must be filed within specific timeframes after assessment notices are issued. Contact the Graves County Property Valuation Administrator (PVA) for appeal procedures and deadlines.
Q: Are there online payment options available?
A: Contact the Graves County Clerk's Office directly to inquire about current online payment options and accepted payment methods for property taxes.
Q: What happens if I live in a city within Graves County?
A: Properties within city limits pay additional municipal taxes on top of county taxes. Your total tax rate includes county, school district, city, and any applicable special district rates for your specific location.
Q: When is the personal property tax return due?
A: Personal property tax returns are due by May 15th each year for items such as business equipment, vehicles, and other taxable personal property.
Q: Where do I apply for the homestead credit?
A: Applications for the homestead credit should be filed with the Graves County Property Valuation Administrator (PVA) office. Contact them directly for application forms and specific deadline requirements.
