Richmond property tax: where it goes
A Richmond house pays 1.046% of its taxable value in property tax. For a house at $214,900 of market value, that's about $2,248 a year.
Tax is levied on estimated fair cash value assessed by the Madison County PVA, taxed per $100 of assessed value.
Who taxes this house
| Taxing agency | Rate | On $214,900 |
|---|---|---|
| Commonwealth of Kentucky (state rate) | 0.103% | $221 |
| Madison County Fiscal Court | 0.063% | $135 |
| Madison County Schools (proposed rate) (schools) | 0.617% | $1,326 |
| Madison County EMS (rate presented to the Fiscal Court) | 0.042% | $90 |
| Madison County Health Department (rate presented to the Fiscal Court) | 0.047% | $101 |
| Madison County Public Library (rate presented to the Fiscal Court) | 0.046% | $99 |
| Madison County Extension (rate presented to the Fiscal Court) | 0.018% | $39 |
| City of Richmond | 0.11% | $236 |
| Total | 1.046% | $2,248 |
2026 tax year, Madison County.
Ways to pay less
- Seniors 65+ or totally disabled: homestead exemption. Homeowners who are at least 65, or who are classified as totally disabled and meet the other requirements, can take $49,100 (the 2025-2026 amount) off the assessed value of their home. How: File a homestead application with the PVA of the county where the home is (for Richmond, the Madison County PVA).
- Pay the City of Richmond tax bill before Nov 1, 2026 for 2% off. The City of Richmond gives a 2% discount on tax bills paid before November 1, 2026. How: Pay the city bill before November 1, 2026 (City of Richmond property taxes).
- Pay property taxes in full by Nov 1 for 2% off. Kentucky law gives a 2% discount to a taxpayer who pays property taxes in full by November 1 of the assessment year. How: Check the dates on your tax bills.
Dates
| When | What |
|---|---|
| Nov 1, 2026 (in 10 days) | The City of Richmond's 2% discount ends: it applies to tax bills paid prior to November 1, 2026. The face amount is due from November 1 until December 31, 2026. |
| Jan 1, 2027 | The City of Richmond adds a 10% penalty to taxes unpaid after January 1, 2027, and interest at fifteen percent per annum from that date. |
| Jan 1 | Homestead exemption eligibility is set as of January 1: you must be in the home on that date. |
Pay or manage it
Sources
- City of Richmond Ordinance 26-25 (2026 ad valorem tax)
- Madison County Board of Education proposed tax notice
- WBKO: Kentucky state real property tax rate 2026
- KDE tax rates levied 2025-26
- Kentucky DOR: homestead exemption
Checked October 22, 2026. Every number here comes from the public sources listed, matched by our checker.
Rates change every year; this page shows when it was last checked. Nothing here is legal, tax or insurance advice.