Kentucky's homestead exemption for property taxes applies to:
Correct Answer
B) Homeowners who are 65 or older, totally disabled, or the surviving spouse of a person who previously qualified
Under KRS 132.810, Kentucky's homestead exemption exempts a portion of the assessed value from property taxes for homeowners who are 65 years or older, who are classified as totally disabled, or who are the surviving spouse of a person who previously qualified for the exemption. The exemption amount is adjusted periodically by the Kentucky Department of Revenue.
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Related Topics & Key Terms
Related Topics:
Key Terms:
Related Concepts
A freehold estate represents ownership of real property with an indefinite duration.
Joint tenancy is a form of co-ownership in which two or more persons hold equal, undivided interests in property with the right of survivorship. When one joint tenant dies, their interest automatically passes to the surviving joint tenants.
A leasehold estate grants the right to possess and use property for a defined period of time, without conferring ownership.
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