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Saturday, November 23, 2024

Lower property tax revenue in Kentucky during Q2

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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 $81 million in property taxes during the second quarter, a 60.5% decrease from the first quarter, according to the U.S. Census Bureau's Quarterly Summary of State and Local Taxes.

Property tax revenue for the first quarter was $205 million.

Overall, Kentucky collected $4.7 billion in combined tax revenues in the second quarter, an increase from the $4.1 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.

Q2 Kentucky Tax Collections
Type of TaxAmount (millions)
Property Taxes$81
Sales and Gross Receipts Taxes$2,202
Income Taxes$2,230
License Taxes$140
Other Taxes$49
Source: U.S. Census Bureau

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