Kentucky Tax Data Explorer (2024)

FAQs

How to calculate Kentucky state income tax? ›

Annual wages minus the Kentucky standard deduction equals annual Kentucky wages. Compute tax on wages using the 5% Kentucky flat tax rate to determine gross annual Kentucky tax. Divide the gross annual Kentucky tax by the number of annual pay periods to determine the Kentucky withholding tax for the pay period.

A person or persons owning, living in and maintaining a residential unit must meet the 65 years of age requirement. If only one spouse is 65, the age requirement is met.

The place to start for property records is in the county recorder's office. The recorder's office is responsible for keeping all real estate documents and property-related transactions. You can visit the recorder's office in person or online to access these records.

Overview of Kentucky Taxes

Kentucky has a flat income tax of 4.5%. That rate ranks around the national average for states that charge income tax. At the same time, cities and counties in Kentucky may impose their own occupational taxes directly on wages, bringing the total tax rates in some areas to up to 7.25%.

Kentucky is generally a tax-friendly state for retirees. Social Security income is exempt from taxation, while other forms of income, such as from pensions, 401(k), or IRA, are exempt up to a limit of $31,110 per person. Anything above this limit will be taxed at the state's standard 4.5 percent rate.

Kentucky allows pension income (including annuities, IRA accounts, 401(k) and similar deferred compensation plans, death benefits, etc.) paid under a written retirement plan to be excluded from income on the Kentucky return. Report only pension income received while a resident of Kentucky.

"Agricultural land" means: Any tract of land, including all income-producing improvements, of at least ten contiguous acres in area used for the production of livestock, livestock products, poultry, poultry products and/or the growing of tobacco and/or other crops including timber.

Tax-exempt goods

Some goods are exempt from sales tax under Kentucky law. Examples include groceries, prescription drugs, and some manufacturing equipment.

Campbell County has the highest average effective rate in the state at 1.36%, while Carter County has the lowest rate at a mere 0.49%.

What are the tax advantages to living in Kentucky? ›

Kentucky fully exempts all Social Security income from taxation while providing a significant deduction for seniors receiving other types of retirement income. The state has relatively low sales and property taxes, but also has an inheritance tax.

The Land Records department is responsible for recording legal documents according to the Kentucky Revised Statutes. Some of the documents recorded in our office are mortgages, deeds, wills, marriage licenses, liens, releases and corporate records.

To obtain public court records in Kentucky, you must contact the appropriate court clerk at the district or circuit court where the case was filed. Some records may be accessible online. For instance, the Kentucky Court of Justice provides an online searchable platform for looking up docket information.

The amount you pay in property taxes each year depends on two things: (1) the assessed value of your property and (2) the tax rates that are levied at both the State and local levels.

As of 2024, Kentucky has a flat tax rate of 4.0%, down from the 4.5% rate in 2023. This rate applies uniformly to all taxpayers, regardless of income level.

The income tax withholding formula for the State of Kentucky, includes the following changes: The annual standard deduction has changed from $2,980 to $3,160.

Kentucky State Income Tax (SIT) Rates

Kentucky has a flat income tax rate of 4.00%, meaning all residents pay the same amount regardless of their income levels. Combine with regular wages and apply the same 4.00% tax rate.