Q: When are Powell County property taxes due for FY 2025?
A: Property taxes are due November 15, 2025. However, you can receive a 2% discount if you pay by November 1, 2025. Tax bills are mailed by the Sheriff's office by the end of September.
Q: What homestead tax credit is available and how do I apply?
A: Powell County offers a homestead exemption that limits annual assessment increases on your primary residence. This credit does NOT reduce your property's market value but caps how much your assessment can increase year-over-year. You must apply with the county assessor's office, and the application is not automatic.
Q: Are there other tax credits available that require application?
A: Yes, various tax credits may be available for seniors, disabled veterans, disabled persons, and other qualifying circumstances. All tax credits require separate applications filed with the appropriate county office and have specific eligibility requirements and deadlines.
Q: How often are properties reassessed in Powell County?
A: Property assessments in Kentucky are conducted annually, with the assessment date being January 1st of each year. The Property Valuation Administrator (PVA) reviews property values and makes adjustments based on market conditions and property changes.
Q: Can I appeal my property assessment?
A: Yes, if you believe your property's assessed value is too high, you can file an appeal after meeting with the Property Valuation Administrator. There are specific deadlines and procedures for filing assessment appeals, typically in the spring following the assessment.
Q: What are the penalties for late property tax payments?
A: Late payments incur penalties and interest charges. If taxes remain unpaid, the property may eventually be subject to tax sale proceedings. Contact the Sheriff's office for specific penalty rates and payment options.
Q: Can I pay my property taxes online?
A: Contact the Powell County Sheriff's office directly to inquire about online payment options and accepted payment methods for property taxes.
Q: Why is my tax rate different from my neighbor's?
A: Tax rates vary based on the special taxing districts that serve your property, such as fire districts, school districts, and other local service districts. Two properties in different parts of Powell County may have different combinations of these districts, resulting in different effective tax rates.
Q: What's the difference between personal property tax and real property tax?
A: Real property tax applies to land and buildings at 3.4%, while personal property tax applies to business equipment, machinery, and other qualifying personal property at 4.15%. Motor vehicles are taxed separately at 45 cents per $100 of assessed value.
Q: Do I need to file annually for tax credits?
A: Most tax credits require initial application, and some may require annual renewal or periodic verification. Contact the county assessor's office to understand the specific requirements for any tax credits you're claiming to ensure continuous eligibility.
