Commercial Real Estate Owners in Fayette County, Kentucky Will Receive Additional Bills in January

Commercial property owners in Fayette County, Kentucky will soon receive additional supplemental property tax bills from the Fayette County Sheriff’s Office, corresponding to property tax rate changes approved by the Fayette County Board of Education. In late 2022, school board members approved a rate that will go from 80.8 cents to 83.3 cents per $100 of assessed value. In a social media post in October 2022, Fayette County Property Valuation Administrator (PVA) David O’Neill said taxpayers would receive an additional tax bill for the difference between the two tax rates. The difference would be an additional 4.8 cents per $100 in value.

Supplemental property tax payments received or postmarked by January 31, 2023, will receive a 2% discount. Payments received or postmarked by February 28, 2023, will be paid at face value and will avoid penalties. Payments received after March 1, 2023, will include penalties.

Taxpayers who did not receive their supplemental bills during the first week of January should contact the Office of the Fayette County Sheriff Property Tax Division at 859.252.1771 to request a duplicate copy. The local experts at Ryan are assisting clients with these additional tax bills and are available to answer questions.

Learn More About Kentucky Commercial Property Taxes

TECHNICAL INFORMATION CONTACTS:

Brad Wallace
Principal
Ryan
404.942.6346
brad.wallace@ryan.com

Chris Langston
Senior Manager
Ryan
404.942.6341
chris.langston@ryan.com 

The material presented in this communication is intended to provide general information only and should solely be seen as broad guidance and not directed to the particular facts or circumstances of any individual who may read this publication. No liability is accepted for acts or omissions taken in reliance upon the content of this piece. Before taking (or not taking) any action, readers should seek professional advice specific to their situation from Ryan, LLC or other tax professionals. For additional information about this topic, please contact us at info@ryan.com.