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The Boone County Fiscal Court has voted unanimously to lower the real property tax rate for residents. At its meeting on August 19, the court approved a reduction from 9.2 cents to 8.5 cents per $100 of assessed value. For a homeowner with a property valued at $300,000, this change means an annual county property tax bill of $255.
Gary W. Moore, Boone County Judge/Executive, said, “This tax rate, coupled with our occupational licensing revenue, enables us to fully fund quality County services that keep our communities safe, provide ample outdoor recreation opportunities and ensure roads stay in good repair – all while keeping the burden off our residents.” He added, “Fiscally conservative leadership and a sharp pencil has helped us provide real relief to taxpayers as home values rise.”
Local governments in Kentucky have several options when setting tax rates: they can adopt the compensating rate calculated by the Kentucky Department of Local Government (DLG), which maintains revenue at last year’s level; choose a growth rate that increases revenue by up to 4%, requiring public notice and hearing; select a rate above that threshold, which is subject to voter recall; or set a rate below the compensating rate. The fiscal court opted for the latter.
For 2025, DLG calculated the compensating rate at 9.1 cents per $100 and the 4% growth rate at 9.4 cents per $100. The court decided on a lower figure to prioritize tax relief.
Judge Moore stated, “During the budget process, I instructed staff to conservatively estimate revenue, which allowed us to lower taxes below the compensating rate. The 8.5 rate allows us to still fund important projects and priorities and protect the County’s financial health for our children and grandchildren.”
At the same meeting, personal property tax rates were set at 9.5 cents per $100 and motor vehicle tax rates at 14.2 cents per $100.
The new rates take effect immediately and will appear on property tax bills mailed in October by the Boone County Sheriff’s Office.
