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If your millage rate is 8.0 and your home’s assessed value is $180,000, you’d owe $1,440 in yearly property taxes. You can find several property tax calculators online to determine your tax ...
Land surveying in Kentucky is regulated by the Commonwealth in KRS 322. [8] The Standards of Practice are defined in 201 KAR 18:150. [9] Compliance is maintained by the Kentucky Board of Engineers and Land Surveyors, [10] which was established by an Act of the Kentucky General Assembly in 1938.
Many jurisdictions impose tax on a value that is only a portion of market value. This assessed value is the market value times an assessment ratio. [27] Assessment ratios are often set by local taxing jurisdictions. However, some states impose constraints on the assessment ratios used by taxing jurisdictions within the state. [27]
This is unfortunate for one of the two parties. It is the obligation of a real property appraiser to estimate the true market value of a property and not its market price. Frequently, properties are assessed at a value below their market values; this is known as fractional assessment. [5]
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