Property Tax in Pulaski County, Kentucky

Property Tax in Pulaski County

A calculator and field guide for Somerset-area homeowners — and for anyone considering a move to Pulaski County — including Kentucky's 100% fair cash value assessment (KY Const. §172), the $49,100 Homestead Exemption for 65+ or totally disabled (indexed every 2 years), HB 639 (2025) creating a NEW dedicated disabled-veteran exemption ($240,000 AV exemption for 100% P&T in 2026, rising to $400,000 by 2030 — effectively full exemption for most KY homes), and HB 44's 4% revenue cap (limits district revenue growth, not bills).

Pulaski County, home to Somerset and 65k Kentuckians, operates under Kentucky\'s straightforward 100% fair cash value property tax system. Real estate is assessed at 100% of fair cash value (KY Constitution §172) — no assessment ratio reduction. Tax = AV × rate / $100. Combined rates include state property tax (~$0.115/$100 of AV), county, city, school district, and special district levies. HB 44 (1979) caps district revenue growth at 4% — when total AV in a taxing district rises, rates must roll back so the district collects no more than 4% additional revenue from existing property (excluding new construction). Cap can be exceeded by public hearing + possible recall vote.

How the bill is built

Kentucky property tax follows a 3-step calculation. Step 1: Fair Cash Value. The Pulaski County Property Valuation Administrator (Kentucky uses elected Property Valuation Administrators, NOT assessors) determines fair cash value annually using sales comparables. Step 2: Apply exemptions. The Homestead Exemption ($49,100 AV reduction for 2025-2026, indexed every 2 years) applies to owner-occupants 65+ or totally disabled. The HB 639 (2025) Disabled Veteran Exemption ($240,000 AV cap for 100% P&T in 2026, rising to $400K by 2030) replaces the Homestead when a vet qualifies — they don\'t stack. Step 3: Apply tax rate. Tax = (AV − exemptions) × rate / $100. Pulaski County\'s combined rate is ~$1.14/$100 of AV (= $1.14% effective rate against full FMV, since AR is 100%).

Kentucky\'s 100% AR distinguishes it from most Southeastern states. Most Southern states use sub-100% assessment ratios — Alabama uses 10% for Class III residential, Mississippi uses 10%, South Carolina uses 4% for Legal Residence. Kentucky uses 100%, which means the rate visible on the tax bill IS the effective rate against full FMV. This produces clearer comparisons against Northern/Midwestern states (which also typically use 100% AR or rates expressed against full value). Kentucky\'s ~0.83% statewide median effective rate is below the US median of ~1.10% but well above Alabama\'s ~0.40%.

HB 639 (2025) was a major expansion of disabled-veteran property tax benefits in Kentucky. Before HB 639, disabled veterans only received the regular $49,100 Homestead Exemption — meaningful but limited. HB 639 created a NEW dedicated, tiered exemption: 100% P&T disabled vets receive a $240,000 AV exemption in 2026, rising to $260K (2027), $300K (2028), $340K (2029), and $400K by 2030. Partial disability ratings receive prorated amounts (10% rating = $5,000 minimum). Surviving spouse retains if continued residency. For Kentucky\'s many military communities (Fort Knox / Hardin, Fort Campbell / Christian), the new exemption produces effectively full property tax exemption for most homes.

HB 44 (1979) caps district revenue growth at 4%. When total assessed values in a taxing district rise, tax rates must roll back so that the district collects no more than 4% additional revenue from existing property (excluding new construction). Districts can exceed the 4% limit only by holding a public hearing — and if a sufficient number of taxpayers file a petition, the rate increase goes to a public vote. This mechanism doesn\'t cap individual tax bills directly, but limits how much total revenue a district can collect — providing structural stability against tax-bill spikes during rapid value appreciation.

Pulaski County rate breakdown ($ per $100 of AV (100% fair cash value, no AR reduction), Somerset district)

Taxing entity	Rate
Kentucky state real estate tax	0.1060
Pulaski countywide levies	0.1440
Somerset Independent School District	0.7590
City of Somerset	0.1280
Combined total	1.1370

Rate source (2025): Official 2025 rate source. Somerset city / Somerset Independent school district; other school districts differ. State rate included; special parcel fees excluded. Rate table checked 2026-09-26.

Data record updated September 26, 2026. This is an editorial update date, not a tax year or a guarantee that every figure has been independently verified.

Sources and scope: Check rates and parcel details with Pulaski County Property Valuation Administrator. Figures may refer to different source years; a county-seat rate does not apply to every address. How we use data and estimates.

Note: Rate review (September 26, 2026): Somerset city / Somerset Independent school district; other school districts differ. State rate included; special parcel fees excluded. Source year: 2025. The county reference statistics are separate from this district-specific estimate.

Note: Pulaski County is anchored by Somerset — the regional hub for south-central Kentucky and the gateway to Lake Cumberland (the largest reservoir east of the Mississippi River by water volume, formed by Wolf Creek Dam in 1952). Lake Cumberland houseboat tourism alone generates ~$300M annually for the regional economy. Major employers include Lake Cumberland Regional Hospital, Somerset Community College, the substantial Lake Cumberland marina/houseboat industry (Pulaski has more houseboats than any other US county), and Toyota Motor Manufacturing Kentucky's tier-1 supplier base.

Note: Lake Cumberland drives the local economy — the lake is famous for "moonbows" (lunar rainbows) at Cumberland Falls, one of only two places in the Western Hemisphere where this phenomenon occurs predictably. The substantial out-of-state second-home and vacation-rental market (especially houseboats) creates a tax base where many properties are non-homestead. Kentucky offers a Homestead Exemption for 65+/disabled (~$49K of AV exempt; statewide adjusted for inflation), valuable in Pulaski's aging demographic.

Deductions and exemptions for 2026

Kentucky homeowner property tax relief is concentrated in three mechanisms: (1) the $49,100 Homestead Exemption (KRS 132.810, indexed every 2 years) for owner-occupants 65+ OR totally disabled, (2) the HB 639 Disabled Veteran Exemption ($240,000 AV cap for 100% P&T in 2026, rising to $400K by 2030), and (3) the HB 44 4% revenue cap for taxing districts. Kentucky uses 100% AR — no assessment ratio reduction.

$49,100 Homestead Exemption (65+ OR Totally Disabled)

Kentucky\'s Homestead Exemption (KRS 132.810) is $49,100 AV reduction for the 2025-2026 biennium. The amount is indexed every 2 years for inflation (was $46,350 in 2023-2024). Available to homeowners 65+ OR classified as totally disabled under any government-administered retirement system program (Social Security, VA, etc.). At Kentucky\'s typical 0.95% effective rate, saves roughly $470/year. One-time application for seniors (carries forward automatically); annual recertification for disability-based qualification. File Form 62A350 with the County PVA.

HB 639 Disabled Veteran Exemption (NEW 2025)

HB 639 (passed 2025) created a NEW dedicated disabled-veteran property tax exemption with tiered benefits by VA disability rating. 100% P&T disabled vets receive a $240,000 AV exemption in 2026, rising annually to $260K (2027), $300K (2028), $340K (2029), and $400K by 2030. Partial disability ratings receive prorated exemptions ($5,000 minimum at 10%). Surviving spouse retains if continued residency. The Vet Exemption and Homestead don\'t stack — the Vet Exemption replaces the Homestead when both would qualify. For Kentucky\'s many military communities (Fort Knox / Hardin, Fort Campbell / Christian), the Vet Exemption produces effectively full property tax exemption for most homes (median KY home values are well below the $240K cap).

HB 44 4% Revenue Cap (1979)

HB 44 (1979) caps district revenue growth at 4% — when total assessed values in a taxing district rise, tax rates must roll back so that the district collects no more than 4% additional revenue from existing property (excluding new construction). Districts can exceed the 4% limit by holding a public hearing — and if a sufficient number of taxpayers file a petition, the rate increase goes to a public vote. This mechanism doesn\'t cap individual tax bills directly, but provides structural stability against tax-bill spikes during rapid value appreciation.

Appealing your assessment

Kentucky property tax appeals follow a 3-tier process. Level 1: PVA Conference. Schedule a conference with the County Property Valuation Administrator (PVA) by May 1 or the deadline shown on your assessment notice. The PVA reviews and may adjust. Level 2: Local Board of Assessment Appeals. If unresolved, appeal to the Local Board within 30 days of the PVA conference. Level 3: Kentucky Board of Tax Appeals. Local Board decisions can be appealed to the Kentucky Board of Tax Appeals within 30 days. From there to Circuit Court. Most Kentucky appeals are resolved at the PVA conference or Local Board level.

Cities and towns in Pulaski County

This guide lists 6 selected communities in or associated with Pulaski County. It is not a complete municipal directory. Local taxing districts can differ between communities and individual addresses.

Data: US Census Bureau, 2020 Decennial Census. Populations rounded. Cities marked as "split" straddle a county border — the portion inside Pulaski County is subject to Pulaski County's tax rolls, while the portion outside is subject to the adjacent county's.

City or town	Type	Population (2020)
Somerset County seat	city	12,000
Ferguson	city	900
Burnside	city	700
Science Hill	city	700
Nancy	Census-designated place	600
Eubank	city	350

About city-level property tax rates: Somerset city / Somerset Independent school district; other school districts differ. State rate included; special parcel fees excluded. Other cities in Pulaski County may pay into different school districts, city rates, and special districts — so their combined rates can differ, sometimes substantially. Always verify the specific rates for your address with the Pulaski County Property Valuation Administrator before relying on any estimate.

Frequently asked questions

When are Kentucky property taxes due?

Kentucky property taxes are typically due by December 31. Tax bills are usually mailed in October. Late payments after January 31 of the following year accrue penalty (typically 5% if paid within 30 days, plus interest). Most counties offer a 2% discount for early payment (typically by November 1 or November 30, varying by county). Most Kentucky homeowners pay through escrow via mortgage servicer.

How does the Kentucky $49,100 Homestead Exemption work?

Kentucky\'s Homestead Exemption (KRS 132.810) reduces the assessed value of your primary residence by $49,100 for the 2025-2026 biennium. Available to homeowners 65+ OR classified as totally disabled (Social Security or any government-administered retirement system program). The amount is indexed every 2 years for inflation (was $46,350 in 2023-2024). At Kentucky\'s typical 0.95% effective rate, saves roughly $470/year. One-time application for seniors (carries forward automatically); annual recertification for disability-based qualification. File Form 62A350 with the County PVA.

What is the HB 639 disabled veteran exemption?

HB 639 (passed 2025) created a NEW dedicated disabled-veteran property tax exemption with tiered benefits by VA disability rating. 100% P&T disabled vets receive a $240,000 AV exemption in 2026, rising annually to $260K (2027), $300K (2028), $340K (2029), and $400K by 2030. Partial disability ratings receive prorated exemptions ($5,000 minimum at 10% rating). Surviving spouse retains if continued residency. The Vet Exemption and the regular Homestead Exemption don\'t stack — the Vet replaces the Homestead when both qualify. For Kentucky\'s many military communities (Fort Knox, Fort Campbell), the new exemption produces effectively full property tax exemption for most homes (median KY home values are well below the $240K cap).

What is HB 44 and how does the 4% cap work?

HB 44 (1979) caps district revenue growth at 4% — when total assessed values in a Kentucky taxing district rise, tax rates must roll back so that the district collects no more than 4% additional revenue from existing property (excluding new construction). Districts can exceed the 4% limit by holding a public hearing — and if a sufficient number of taxpayers file a petition, the rate increase goes to a public vote. This mechanism doesn\'t cap individual tax bills directly, but provides structural stability. HB 44 has been a defining feature of Kentucky property tax stability for over 40 years.

How do I appeal my Kentucky assessment?

Kentucky property tax appeals follow a 3-tier process. Level 1: PVA Conference. Schedule a conference with the County Property Valuation Administrator (PVA) by May 1 or the deadline shown on your assessment notice. Level 2: Local Board of Assessment Appeals. Within 30 days of PVA conference. Level 3: Kentucky Board of Tax Appeals. Within 30 days of Local Board. From there to Circuit Court. Most appeals are resolved at the PVA conference or Local Board level.

About Pulaski County

Beyond the property tax — a few things you might not know about the place.

Weird fact

Cumberland Falls State Resort Park (in Pulaski/McCreary County) is one of only two places in the Western Hemisphere (the other is Victoria Falls in Africa, technically in the Eastern Hemisphere) where you can predictably see a "moonbow" — a lunar rainbow caused by moonlight refracting through waterfall mist. Moonbows occur on clear nights at full moon, ~12 nights per year. The phenomenon draws photography enthusiasts from around the world.

Hometown hero

Ernie Fletcher

60th Governor of Kentucky (2003-2007) and US Representative for Kentucky's 6th district (1999-2003). Born in Mt. Sterling KY but raised in and represented south-central Kentucky including Pulaski County. The first Republican Kentucky governor in 32 years when elected in 2003. Trained as a physician (family practice), he practiced medicine in Lexington before entering politics.

Biggest annual event

Master Musicians Festival

Annual July music festival in Somerset (since 1995) — celebrates Appalachian, bluegrass, country, and folk music heritage. Past performers include Vince Gill, Ricky Skaggs, Ralph Stanley, and Loretta Lynn. Among the most-prestigious traditional music festivals in southeastern Kentucky; draws ~10K attendees over the weekend.

Property Tax in Pulaski County