{"id":41042,"date":"2022-11-22T02:08:49","date_gmt":"2022-11-22T07:08:49","guid":{"rendered":"https:\/\/www.wvih.com\/wp1\/?p=41042"},"modified":"2022-11-22T03:38:39","modified_gmt":"2022-11-22T08:38:39","slug":"kentucky-sets-2023-2024-homestead-exemption","status":"publish","type":"post","link":"https:\/\/www.wvih.com\/wp1\/index.php\/2022\/11\/22\/kentucky-sets-2023-2024-homestead-exemption\/","title":{"rendered":"Kentucky Sets 2023-2024 Homestead Exemption"},"content":{"rendered":"

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\nThe Kentucky Department of Revenue has set the maximum homestead exemption at $46,350 for the 2023 and 2024 tax periods.<\/p>\n

By statute, the amount of the homestead exemption is recalculated every two years to adjust for inflation. The 2023-2024 exemption reflects a $5,850 increase over the 2021\u20132022 exemption of $40,500.<\/p>\n

To qualify for the homestead exemption, a person must be at least 65 years old during the tax period or classified as totally disabled by any public or private retirement system. The property must also be owned, occupied and maintained as the taxpayer\u2019s personal residence on the January 1 assessment date to be eligible for this exemption.<\/p>\n

The amount of the homestead exemption is adjusted every two years in accordance with KRS 132.810 to compensate for changes in the purchasing power of the dollar. During the 2022 tax year, the exemption provided state and local property tax savings of approximately $258 million for more than 468,000 elderly or disabled Kentuckians.<\/p>\n

Department of Revenue Commissioner Thomas B. Miller said through the homestead exemption, eligible Kentucky homeowners can deduct a portion of their property\u2019s assessed value. As a result, property taxes are assessed upon the reduced amount, saving eligible Kentucky homeowners hundreds of dollars in property taxes.<\/p>\n

An application for the homestead exemption is available on the Department of Revenue’s website<\/a>. This application must be completed and submitted to the property owner\u2019s local Property Valuation Administrator\u2019s (PVA) office no later than December 31 of the eligible tax year. <\/p>\n

The completed application can be submitted online, by mail or in person. Eligible property owners should contact their PVA\u2019s office to learn the best method to use for local application submission.<\/p>\n","protected":false},"excerpt":{"rendered":"

The Kentucky Department of Revenue has set the maximum homestead exemption at $46,350 for the 2023 and 2024 tax periods.<\/p>\n","protected":false},"author":31,"featured_media":2938,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[51,59],"tags":[],"class_list":["post-41042","post","type-post","status-publish","format-standard","has-post-thumbnail","category-main-news","category-news","entry"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/www.wvih.com\/wp1\/wp-content\/uploads\/2016\/01\/KY-revenue.jpg?fit=224%2C80&ssl=1","jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p6aKAp-aFY","jetpack-related-posts":[],"jetpack_likes_enabled":true,"publishpress_future_action":{"enabled":false,"date":"2026-06-11 12:49:37","action":"change-status","newStatus":"draft","terms":[],"taxonomy":"category","extraData":[]},"publishpress_future_workflow_manual_trigger":{"enabledWorkflows":[]},"_links":{"self":[{"href":"https:\/\/www.wvih.com\/wp1\/index.php\/wp-json\/wp\/v2\/posts\/41042","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.wvih.com\/wp1\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.wvih.com\/wp1\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.wvih.com\/wp1\/index.php\/wp-json\/wp\/v2\/users\/31"}],"replies":[{"embeddable":true,"href":"https:\/\/www.wvih.com\/wp1\/index.php\/wp-json\/wp\/v2\/comments?post=41042"}],"version-history":[{"count":1,"href":"https:\/\/www.wvih.com\/wp1\/index.php\/wp-json\/wp\/v2\/posts\/41042\/revisions"}],"predecessor-version":[{"id":41043,"href":"https:\/\/www.wvih.com\/wp1\/index.php\/wp-json\/wp\/v2\/posts\/41042\/revisions\/41043"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.wvih.com\/wp1\/index.php\/wp-json\/wp\/v2\/media\/2938"}],"wp:attachment":[{"href":"https:\/\/www.wvih.com\/wp1\/index.php\/wp-json\/wp\/v2\/media?parent=41042"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.wvih.com\/wp1\/index.php\/wp-json\/wp\/v2\/categories?post=41042"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.wvih.com\/wp1\/index.php\/wp-json\/wp\/v2\/tags?post=41042"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}