Check Your Tax Rate

Tax rates can change every year.  Sometimes they go down, but most of the time they go up.  In Kentucky, taxes are paid at the END of each year, not at the beginning. Tax bills usually come out at the end of October and if you pay your tax bill early, there is always a small discount that will apply.  Just to note, if you have escrowed your taxes into your monthly loan payment, then you are actually paying a little bit towards your taxes with each and every mortgage payment you make.  Therefore, the lender or servicer will be responsible for paying the full tax bill for you at the end of the year.  However, if your home mortgage is paid off already, then this yearly tax bill becomes YOUR responsibility to pay at the end of each year.  There can be severe repercussions if you are delinquent in paying your taxes, so always make sure to address these each year in a timely manner.

A word of caution to new buyers, regardless if you are a first time buyer or have bought several homes.  The total taxes for the year in which you purchase your home will be calculated on that year's current home VALUE, as recorded in the tax records, because that is the only assessed value known before the sale of the property.  For example, let's say the home you purchase has a recorded home value of $100,000 in the court house records.  This was based on the value from many years back and was never updated to reflect the actual current value of the home in today's market.  You purchase it for $175,000 which is today's fair market value. Your tax assessment will be based on the older $100,000 home value and not the new price you paid at $175,000.  However, this assessment is ONLY for the year in which you purchase the home.  When the new year begins, your purchase price has been recorded at the court house and your new tax rate will now be calculated on the new value of $175,000 moving forward.  This can mean a significant change in your monthly payment if you escrow taxes.  The bigger the difference in the old value of the home as opposed to the new value, the bigger the difference in your revised monthly payments the following year of your home ownership.  Always be sure to check on this with your lender so you can be informed up front of potential mortgage increases based on past low property assessments.

One additional item to note is that if you are 65 years or older, then you are eligible to receive a discount on your taxes know as the Homestead Exemption. This will adjust the amount of your home's assessed VALUE that your taxes are calculated on, saving you money on your property taxes.  You must submit a Home Exemption application in the year in which you turn 65 in order to take advantage of these tax savings. 

As you look at the tax charts below, the column with the current year's heading may be blank if you are looking at them prior to October when the new tax rates come out.  Find your city below to see what your taxes have been in the past.  You'll find that some cities/counties have significant increases, while others are much less.  The taxes for any current year will be updated as soon as the new tax bills come out.

           KENTON COUNTY                   2018            2019            2020         2021

Kenton County Unincorporated $11.21 $13.59
Bromley (a) $13.57 $18.15
Covington (b) $18.64 $20.90
Covington (a) $14.29 $16.86
Crescent Springs (a) $13.92 $16.53
Crestview Hills (a) $12.77 $15.27
Edgewood (a) $13.64 $16.10
Edgewood (d) $16.88 $19.13
Elsmere (a) $15.34 $17.64
Elsmere (d) $18.58 $20.67
Erlanger (a) $14.35 $16.74
Erlanger d) $17.59 $19.79
Fairview (a) $14.12 $16.59
Ft. Mitchell (a) $12.49 $14.95
Ft. Mitchell (e) $14.52 $17.88
Ft. Wright (a) $13.91 $16.38
Ft. Wright (e) $15.95 $19.29
Independence (a) $15.83 $18.27
Kentonvale (a) $13.92 $16.39
Lakeside Park (a) $14.26 $16.68
Lakeside Park (e) $16.30 $19.59
Ludlow (a) $17.20 $16.68
Ludlow (c) $19.77 $22.77
Park Hills (a) $13.21 $15.68
Ryland Heights (a) $14.45 $16.90
Taylor Mill (a) $15.51 $18.17
Villa Hills (a) $14.09 $16.56
Walton (a) $14.12 $16.59
School Districts:
(a) Kenton County
(b) Covington
(c) Ludlow
(d) Erlanger
(e) Beechwood

         CAMPBELL COUNTY                 2018            2019            2020          2021

Campbell Cty Unincorporated $10.66 $10.72
Alexandria (a) $14.33 $14.26
Bellevue (b) $16.70 $17.69
California (a) $12.09 $12.12
Crestview (a) $13.77 $13.84
Cold Spring (a) $12.43 $12.28
Dayton (a) $15.24 $15.28
Dayton (b) $20.32 $20.83
Ft. Thomas (f) $18.57 $18.89
Ft. Thomas (a) $14.69 $14.69
Highland Heights (a) $12.49 $12.34
Melbourne (a) $16.56 $16.69
Mentor (a) $11.94 $11.72
Newport (e) $17.99 $18.07
Southgate (a) $16.46 $16.66
Southgate (b) $21.39 $22.05
Silver Grove (g) $18.52 $12.87
Wilder (a) $12.97 $12.90
Woodlawn (a) $13.02 $13.84
School Districts:
(a) Campbell County
(b) Bellevue
(d) Dayton
(e) Newport
(f)  Ft. Thomas
(g) Southgate

             BOONE COUNTY                   2018              2019             2020           2021

Boone County Unincorporated $11.36 $11.28
Florence (a) No City $10.91 $11.28
Florence (c) $12.07 $12.25
Union (a) $11.41 $11.59
Union (c) $12.57 $13.75
Walton (c) $17.52 $17.52
Walton (b) $16.51 $16.44
Walton (a) $12.52 $11.78
Bellview (a) $11.61 $11.79
Hebron (a) $10.82 $11.00
Burlington $11.31 $11.49
Verona (a) $16.37 $16.45
Verona (b) $11.46 $11.71
Petersburg (a) $11.61 $11.79
Point Pleasant (a) $11.36 $11.78
School Districts:
(a) Boone County
(b) Walton/Verona
(c) In City

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