What is the Kentucky Homestead Exemption?

The Kentucky Homestead Exemption is a program that offers property tax relief to eligible individuals who own and reside in their primary residence in Kentucky. It aims to ensure that homeowners, especially low-income and elderly individuals, are not burdened with high property taxes. Under this exemption, a portion of the home's assessed value is excluded from taxation, reducing the homeowner's tax liability. To qualify, homeowners must meet specific requirements, including age, disability, income limitations, and residency status. Additionally, the property must be the individual's primary residence. The Homestead Exemption provides much-needed financial assistance and protection to eligible homeowners, allowing them to stay in their homes and maintain their quality of life. For more information and application details, visit the Kentucky Department of Revenue's website or contact their office.