Property Tax Bills Mailed to Fayette County Residents Ahead of December Deadline

Lexington, KY – Fayette County property owners are reminded that their annual property tax bills have been mailed and are due by Tuesday, December 31. The Fayette County Sheriff’s Office dispatched 120,242 tax bills with a cumulative face value of $491,787,426.36 as of September 26.

The overall taxable value for all properties in the county this year stands at $37,505,905,601, according to Fayette County Property Valuation Administrator David O’Neill. With assessments conducted on a four-year rotation, many property values reflect the rapidly evolving housing market in Lexington.

O’Neill highlighted that the current increase in property valuation primarily stems from homes being reassessed at fair market value. He noted that approximately 25,000 homes were reassessed within the central zones of the county, which encompasses areas inside New Circle Road. The next wave of reassessments will focus on the southern regions in 2025.

For property owners concerned about rising taxes, there is an opportunity to secure a 2% discount if payments are submitted by November 1. Payments made by the December 31 due date will be owed at face value, while late payments may incur penalties.

Taxpayers have various options for submitting payments. They can visit the Fayette County Sheriff’s Office located at 150 North Limestone, pay online at fayettesheriff.com, or visit any Lexington Republic Bank location with the payment coupon. For those yet to receive their tax bills, it is advised to contact the sheriff’s property tax division.

Also noteworthy, older or disabled homeowners may be eligible for the Kentucky Homestead Exemption, potentially reducing their annual property tax obligations. This exemption deducts up to $46,350 from the home’s assessed value for the 2023-24 tax year, with adjustments made biennially based on inflation.

Property owners who wish to contest their property assessment should be aware that assessments can be protested during an open inspection period, typically between April 15 and May 20. Even if a property’s value remains unchanged, owners are entitled to appeal annually.

For more detailed inquiries or to initiate a review of property assessments, residents can complete an online request or reach out directly to the PVA office.