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Wednesday, November 6, 2024

Kentucky's Q4 2021 property tax revenue up 560.3% from previous quarter

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Thomas B. Miller Commissioner of Revenue at Kentucky Department of Revenue | Kentucky Department of Revenue

Thomas B. Miller Commissioner of Revenue at Kentucky Department of Revenue | Kentucky Department of Revenue

Kentucky collected $416 million in property taxes during the fourth quarter of 2021, a 560.3% increase over the third quarter of 2021, according to the U.S. Census Bureau's Quarterly Summary of State and Local Taxes.

Property tax revenue for the third quarter of 2021 was $63 million.

Overall, Kentucky collected $4 billion in combined tax revenues in the the fourth quarter of 2021, an increase from the $3.6 billion collected in the previous quarter.

In addition to detailed tax revenue data from each state, the Quarterly Summary of State and Local Government Tax Revenue includes an estimate of state and local government tax revenue at a national level.

The Census Bureau cautions that it sets the tax classifications among the survey categories, and they may differ from the classifications set by the state governments.

Q4 2021 Kentucky Tax Collections
Type of TaxAmount (millions)
Property Taxes$416
Sales and Gross Receipts Taxes$1,830
Income Taxes$1,567
License Taxes$92
Other Taxes$58
Source: U.S. Census Bureau

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