Boyle property taxes flat in 2017, but property values rise
Published 2:49 pm Sunday, November 5, 2017
Property tax rates stayed nearly the same across the board in Boyle County, but total property value in the county rose by about 4.4 percent this year.
Last year, property owners paid between about $1.14 and about $1.43 per $100 of property value, depending on where they lived. That translates to property taxes of between about $1,140 and $1,430 on a $100,000 house.
Those estimates don’t change much this year, as tax rates mostly remained flat or dropped marginally. Boyle County, the City of Danville and the Boyle County Public Library all lowered their property tax rates by one-tenth of a cent per $100 of value — about $1 cheaper on a $100,000 house, based on rates provided by Boyle County Clerk Trille Bottom.
Danville Independent Schools lowered its rate by one full cent, equaling $10 less on a $100,000 house.
The state, Boyle County Schools, the Boyle County Health Department, the Boyle County Fire Department, the Boyle County Soil Conservation District, Perryville and Junction City all kept their property tax rates the same, according to the clerk’s records.
Only the Boyle County Cooperative Extension Service tax rate went up — by a little more than four-tenths of a cent per $100, or $4.35 on a $100,000 house, according to the clerk’s records.
But while property taxes didn’t go up substantially, the value of property in Boyle County did.
Boyle County Property Valuation Administrator Eddie Tamme said the total value of real estate in Boyle County rose by about $69.68 million. That’s about a 4.42-percent increase from about $1.57 billion in 2016 to about $1.64 billion in 2016, according to figures provided by Tamme.
The previous year, property values rose by a little more than $19 million, an increase of about 1.22 percent.
Tamme said some years, like from 2008 to 2010 during the recession, growth is “stagnant” — property values don’t go up. But right now, the real estate market is doing well.
“It’s not uncommon to see that kind of growth in one year when the real estate market is going well — and it’s on the uptick right now,” he said.
Tamme said in addition to expansions of local businesses and new restaurants in Boyle County, a main reason he believes property values are rising is “supply and demand.” He’s seen information about Lexington being unable to meet the demand for housing, “so people are looking for homes in the outskirts.”
“I think that sort of trickles down to the surrounding counties, such as Boyle and Garrard,” he said.
Tamme said for “90 percent of people,” their home is their largest investment.
“I would think it would be a good thing for people to know that the largest investment they have is increasing in value,” he said.
At the Boyle County Sheriff’s Office, which is responsible for collecting almost all of the property taxes in the county, Sheriff Derek Robbins said it’s true rising property values mean property owners can sell for more — if that’s something they choose to do. But many Boyle residents also don’t like it when they discover they owe more in property taxes than they did previously.
“We get the brunt of it because we collect it, but we didn’t set it,” Robbins said of property tax rates.
November is when tax bills can begin to be paid, and it’s the sheriff’s office’s busiest time for collecting them — about 85 percent of them are paid before December, said Janice Speaks, office manager for Robbins.
Speaks said the sheriff’s office is getting more calls about higher property tax bills this year than usual.
“These old people — they’re on fixed incomes and they’re trying to save up to pay what they paid last year. It can be upsetting,” she said.
Robbins said he understands taxpayers’ frustration — some have complained their tax bills went up by $200 or $300.
“It’s a painful process to pay that much money at one time right before Christmas,” he said.
2017 PROPERTY TAX RATES
Based on a tax bill for a $100,000 house; compared to 2016 rates
Boyle County — $65 ($1 less)
Boyle County Extension Office — $42.30 ($4.35 more)
Boyle County Fire Department — $100 (same)
Boyle County Health Department — $27 (same )
Boyle County Public Library — $74 ($1 less)
Boyle County Schools — $704 (same)
Boyle County Soil Conservation District — $10 (same)
Danville — $144 ($1 less)
Danville Independent Schools — $945 ($10 less)
Junction City — $125 (same)
Kentucky — $122 (same)
Perryville — $336 (same)