Campbell County, Kentucky is a beautiful and thriving community located in the northern part of the state. With a population of over 93,000 residents, it is the fourth most populous county in Kentucky. As with any county, there are certain tax policies in place to fund local government services and infrastructure. One of the most significant sources of revenue for the county is property taxes.
What are Property Taxes?
Property taxes are taxes that are levied on real estate properties such as land, buildings, and structures.These taxes are collected by the local government to fund various services such as schools, roads, and public safety. In Campbell County, property taxes are assessed by the Campbell County Property Valuation Administrator (PVA).
The Role of the Campbell County PVA
The Campbell County PVA is responsible for assessing the value of all real property within the county. This includes residential, commercial, and industrial properties. The PVA uses a variety of methods to determine the value of a property, including market analysis, cost approach, and income approach. Once the value of a property has been determined, the PVA sends out property tax bills to the owners.These bills are typically sent out in October and are due by January 1st of the following year. The amount of tax owed is based on the assessed value of the property and the current tax rate set by the local government.
The Tax Rate in Campbell County
The tax rate in Campbell County is determined by the Campbell County Fiscal Court, which is made up of elected officials who oversee the county's budget and finances. The tax rate is expressed in terms of cents per $100 of assessed value. For example, if the tax rate is 50 cents per $100 of assessed value and a property is valued at $200,000, the property owner would owe $1,000 in property taxes. The tax rate in Campbell County varies depending on where you live within the county.Each city within the county has its own tax rate, in addition to the county-wide tax rate. For example, the tax rate in the city of Alexandria is 0.205 per $100 of assessed value, while the tax rate in the city of Fort Thomas is 0.305 per $100 of assessed value.
Exemptions and Discounts
There are certain exemptions and discounts available for property owners in Campbell County. These include:- Homestead Exemption: This exemption is available for homeowners who are 65 years or older or have a disability. It allows for a reduction in the assessed value of a property by up to $39,300.
- Disability Exemption: This exemption is available for homeowners who have a permanent disability and meet certain income requirements.
It allows for a reduction in the assessed value of a property by up to $37,600.
- Veterans Exemption: This exemption is available for veterans who have a service-connected disability. It allows for a reduction in the assessed value of a property by up to $37,600.
- Discounts: Property owners who pay their taxes early can receive a discount of up to 2% on their tax bill.
Appealing Your Property Tax Assessment
If you believe that your property has been overvalued by the PVA, you have the right to appeal your assessment. The first step is to contact the PVA's office and discuss your concerns. If you are not satisfied with the outcome, you can file an appeal with the Campbell County Board of Assessment Appeals.The board will review your case and make a determination on whether your assessment should be adjusted.
