• Skip to primary navigation
  • Skip to content
  • Skip to primary sidebar
  • Skip to footer
  • Chamber
    • Why Join
    • Apply
    • Ambassador Program
    • Directory
    • Events
    • Board
    • Committees
  • Community
    • Civic
    • Annual Festivals
    • Art & Leisure
    • Education
    • Healthcare
    • Relocation
    • Retirement Communties
    • Upcoming Event Flyers
  • Economic Development
    • Industries
    • Demographics
    • Taxes & Incentives
    • Transportation
    • Utilities
    • Workforce
    • Sites
  • News
  • Jobs
  • Contact

Mt. Sterling Chamber

Taxes & Incentives

Major State Incentive Programs

Bluegrass State Skills Corporation (BSSC) – Click on this link to learn more about the Grant-in-Aid and Tax Credit programs for workforce training offered through BSSC.
Kentucky Business Incentives & Financial Programs – Click on this link to learn more about the various tax incentive programs offered by the Kentucky Cabinet for Economic Development. Through the Kentucky Business Incentives (KBI) Program, businesses locating in this county could qualify for enhanced incentives.

State & Local Taxes

A state sales tax is levied at the rate of 6% on the purchase or lease price of taxable goods and on utility services. Local sales taxes are not levied in Kentucky.

The Kentucky Constitution requires the state to tax all classes of taxable property, and state statutes allow local jurisdictions to tax only a few classes. All locally taxed property is subject to county taxes and school district taxes (either a county school district or an independent school district). Property located inside city limits may also be subject to city property taxes. Property assessments in Kentucky are at 100% fair cash value. Special local taxing jurisdictions (fire protection districts, watershed districts and sanitation districts) levy taxes within their operating areas (usually a small portion of the community or county).

State Property Tax Rate Per $100 Valuation, 2019

Selected Class of PropertyState ReturnLocal Taxation Permitted
Real Estate$0.1220Yes
Manufacturing Machinery$0.1500No
Pollution Control Equipment$0.1500No
Inventories:
Raw Materials

Goods in Process

Finished Goods

Goods-In-Transit
$0.500

$0.500

$0.500

Exempt

No

No

Yes

Limited
Motor Vehicles$0.4500Yes
Other Tangible Personal Property$0.4500Yes

Local Property Tax Rate Per $100 Valuation, 2019

Taxing JurisdictionReal EstateTangibles Motor Vehicles
Montgomery County$0.73$0.73$0.3292
Mt. Sterling (city)$0.25$0.30$0.2440
Montgomery County Schools$0.5230$0.5230$0.4630

Local Occupational Licenses and Taxes, 2019

Cities, counties and school districts may levy an occupational license tax on the net profits of businesses and/or on the salaries and wages of employees earned in the jurisdiction. Rates can vary between the two types of occupational license taxes. Occupational license taxes may be levied on businesses as either a flat rate schedule or as a percentage of apportioned net profits or gross receipts. Where both the city and county levy an occupational license tax, a credit may be given, at the option of the local governments, for the amount paid to the city against the occupational license tax of the county. (Consult local jurisdictions for further details.)

Taxing JurisdictionTax Rate on Salaries/WagesTax Rate on Net Profits/Reciepts
Montgomery County2.00%2.00%
Jeffersonville (city)2.00%2.00%
Mt. Sterling (city)2.00%2.00%
Camargo (city)2.00 %2.00 %
Montgomery County
School District
No TaxNo Tax

Primary Sidebar

More Info:

  • Economic Development
  • Demographics
  • Sites
  • Industries
  • Location
  • Taxes & Incentives
  • Transportation
  • Utilities
  • Workforce

Connect

  • Facebook
  • LinkedIn
  • YouTube

Upcoming Events

Arrow
Arrow
Slider

Footer

Chamber

  • Why Join
  • Apply
  • Directory
  • Events
  • Board
  • Committees

INDUSTRY

  • Industries
  • Sites
  • Taxes & Incentives
  • Workforce
  • Location

COMMUNITY

  • Civic
  • Education
  • Art & Leisure
  • Healthcare
  • Relocation
  • Upcoming Event Flyers

SOCIAL

  • Facebook
  • Instagram

Search

Mt. Sterling Chamber of Commerce

124 N. Maysville Road, MT. STERLING, KY 40353 PHONE / 859-498-5343 / 859-498-3947 CONTACT@MTSTERLINGCHAMBER.COM

© Copyright 2014 · All Rights Reserved · Mt. Sterling Chamber of Commerce