Murray & Calloway County
Tax Information
Property Taxes
Residences of Murray/Calloway
County are located in one of five scenarios of tax districts.
There are two school districts, city and county. The tax rate
is listed per $100 of assessed valuation (100% assessed).
| Local Tax Rates Per $100
Valuation, 2005 |
|
| |
Taxing Jurisdiction |
Property Taxes
Per $100 Valuation |
Occupational License Tax
(Local tax levied on employee salaries and wages earned in
the jurisdiction. Local tax levied on apportioned net
profits/receipts of businesses where indicated; consult
local jurisdictions for further details) |
|
| |
Real Estate |
Tangibles |
Motor Vehicles |
|
| |
County |
|
| |
Calloway |
$0.2385 |
$0.2935 |
$0.2810 |
No tax |
|
| |
City |
|
| |
Murray |
$0.3930 |
$0.3930 |
$0.3800 |
No tax |
|
| |
School District |
|
| |
Calloway County Schools |
$0.3980 |
$0.3980 |
$0.5210 |
No tax |
|
| |
Murray Independent Schools |
$0.4990 |
$0.5010 |
$0.5440 |
No tax |
|
| |
Source:
Kentucky Revenue Cabinet. |
| State Property Tax Rates
Per $100 Valuation, 2005 |
|
| |
Selected Class of Property |
State Rate |
Local Taxation
Permitted
|
|
| |
Real
Estate |
$0.1310 |
Yes |
|
| |
Manufacturing Machinery |
$0.1500 |
No |
|
| |
Pollution Control Equipment |
$0.1500 |
No |
|
| |
Inventories: |
|
| |
Raw
Materials |
$0.0500 |
No |
|
| |
Goods in Process |
$0.0500 |
No |
|
| |
Finished Goods |
$0.0500 |
Yes |
|
| |
Goods-In-Transit |
Exempt |
Limited |
|
| |
Motor
Vehicles |
$0.4500 |
Yes |
|
| |
Other
Tangible Personal Property |
$0.4500 |
Yes |
*Tangibles include boats, autos, airplanes, assessed at 100% market
value. Intangibles include stocks and bonds and are taxed at $0.25
per $100. Securities of Kentucky corporations and political
subdivisions and the U.S. Government are exempt. Other states'
municipal bond interest income is taxable.
Other Taxes
Kentucky Inheritance Tax
Bequests to a surviving spouse
pass free of any inheritance tax. Bequests to other family members
and relatives are taxed at a rate ranging from 2% to 16% depending on the
relationship to the deceased.
Homestead Exemption
A permanent resident of Kentucky at the age of 65 or a 100% disabled
person through social security (private disabled pensions do not qualify)
who lives in and maintains his/her home all year long is eligible for a
Homestead Exemption. The exemption for 2003 of $28,000 is
subtracted from the assessed value of real estate.
Manufacturers' State Tax
Manufacturer's raw material is taxed at $0.50 per $1,000 and
manufacturers' machinery is taxed at $1.50 per $1,000 of depreciated
value. Finished goods are taxed at $0.50 per $1,000 plus applicable
local rates.
State Income Tax
The maximum rate is $280 plus 6% of taxable amount over $8,000.
Exemptions include social security and railroad retirement benefits, and
federal, state, and military retirement systems.
State Sales Tax
The state sales tax is 6%. Prescription drugs and groceries are
exempt. There are no local sales taxes, except for alcohol at
restaurants (8%) and a 3% hotel tax.
Utility Tax
Calloway County has a 3% utilities gross receipts license tax for
schools.
City/County Auto Taxes
At the time of purchase, auto taxes are 6% of the purchase price of
the vehicle. Thereafter, the tax is assessed annually (according to
your tax district) at 100% market value and due during the owner's birth
month.
Casualty Premium Insurance Tax - 9.5%
License Tags
Annual fee is $21 for cars and trucks. For more information
contact the County Court Clerk, Calloway County Courthouse, 2nd Floor -
(270) 753-3923.
City Stickers
City residents must purchase a city sticker for $35 prior to May 31st of
each year. Non-residents who are employed within the city limits
are also required to purchase a sticker. For more information
contact the City Clerk at (270) 762-0350.
