New tax rate a historical low for Covington
COVINGTON, Ky. – Property tax bills for the 2022 calendar year will be sent to Covington residents next week and payment is due by midnight Oct. 15.
Residents have five different ways to pay:
- Online: PAY TAXES HERE.
- By mail: P.O. Box 122655, Covington, KY 41012-2655.
- By phone: Call (859) 292-2180 and choose “option 1.”
- In person: Bring your bill and payment to the Finance Department pay window at City Hall, 20 W. Pike St., between 8 a.m. and 4:30 p.m., Monday through Friday.
- After-hours drop box: Drop your bill and payment in the after-hours drop box located outside of City Hall, in a slot in the door to the left of the main entrance.
Note that residents who use a credit card or debit card to pay the tax bill will be charged a nominal service fee. Note also that unpaid waste collection fees and unpaid storm water fees will be added to property tax bills.
Property owners who have their property taxes escrowed on their mortgage might not receive a bill directly from the City.
The information on the portal will be available starting Thursday, Sept. 15. At that point, property owners will have four ways to search for their bill: by last name, name of their street, or property identification number (PIDN). Residents who search via the PIDN must type in dashes or periods – exactly how it’s listed on their paper bill.
In August, the Board of Commissioners voted to slice the tax rate by 17 percent, a historically low tax rate for the City.
The new rate translates to $2.71 per each $1,000 in assessed value of real estate, down from the $3.27 rate that’s been constant since the 2017 calendar year. For example, the owner of a $100,000 home would pay $271 for the year in City property taxes, compared to $327 the year before.
Property tax revenue represents just under 13 percent of Covington’s General Fund tax revenue, and it’s used for a large variety of services, including police officer and firefighter salaries, helping small businesses create jobs, recreation programs, and street repairs.
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