Property Taxes in Kentucky: When Do You Stop Paying Them?

One of the biggest costs for homeowners in Kentucky is property taxes. Every homeowner, though, eventually wonders whether they’ll still be making these payments after they retire. In Kentucky, at what age do you stop paying property taxes?

Unfortunately, there is no certain age at which Kentucky property taxes are automatically stopped. Property taxes are not based on your age or income because they are assessed based on the value of your home and the county’s tax rate. However, certain counties in Kentucky do exempt older persons or people with disabilities from paying property taxes.

In Kentucky, you can be eligible for the homestead exemption if you’re 65 years old or older. For homeowners who are 65 years of age or older or who are disabled, this program offers property tax assistance. You must own and live in your home as your primary residence to be eligible, and your income must be below a minimum threshold. Depending on the county in which you reside, the exemption might be up to $39,300 of your home’s assessed value.

Next, let’s talk about the age at which Social Security is no longer subject to tax. It depends on your salary level, is the response. Your Social Security benefits are not taxed at all if your income is under a specified threshold. However, up to 85% of your Social Security benefits can be liable to income tax if your income exceeds a particular threshold. The income cutoff is $25,000 for solo taxpayers and $32,000 for joint filers.

Let’s go on to coffee beans now. Coffee beans are they taxable? It depends on how you buy them, is the response. Sales tax is frequently charged on roasted coffee beans that are purchased, packaged, and sold in a physical store. However, you might not be required to pay sales tax if you purchase green coffee beans that are meant for home roasting and have not yet been roasted.

Which state has the highest sales tax, finally? The answer is that although there are many states with high sales tax rates, California now has the highest rate at 7.25% statewide. But in addition to the state rate, many towns and counties in California often tack on their own sales taxes, which in some places can push the overall tax rate above 10%.

In Kentucky, there is no set age at which you must stop paying property taxes, although there are programs that offer older citizens and people with disabilities exemptions from paying property taxes. Depending on your income level, Social Security benefits may be subject to income tax, and how coffee beans are sold will determine whether or not they are taxed. Last but not least, even though California now has the highest sales tax in the nation, the rate can vary greatly depending on the city and county you reside in.