This page provides general legal information and calculation tools, not legal advice. DocketMath is not a law firm and does not provide legal representation, and using this site does not create an attorney-client relationship. Laws change and exceptions apply, so deadlines and amounts specific to your situation should be confirmed with a licensed attorney in your jurisdiction.

Closing Date Prorations in Kentucky

In Kentucky, closing date prorations for property taxes follow a statutory rule that allocates tax liability between buyer and seller based on the date of transfer. The governing authority, Ky. Rev. Stat. § 134.015, establishes a uniform method using a rate of 6% to compute the daily tax obligation. The proration formula calculates the annual tax amount, divides it by the number of days in the year, and then multiplies that daily figure by the days each party owned the property. The official source from the Kentucky Department of Revenue provides the exact calendar and calculation details. A worked example below demonstrates how this formula applies. To estimate a specific closing proration, the DocketMath calculator can perform the calculation using the current tax year data.

Governing authority

In Kentucky, the closing date prorations rule is set by Ky. Rev. Stat. § 134.015. The verified packet cites Ky. Rev. Stat. § 134.015 (https://revenue.ky.gov/Property/Pages/ThePropertyTaxCalendar.aspx).

Kentucky closing date prorations: the verified value is 6% under Ky. Rev. Stat. § 134.015. The verified packet cites Ky. Rev. Stat. § 134.015 (https://revenue.ky.gov/Property/Pages/ThePropertyTaxCalendar.aspx).

Estimate your own result: every situation has exceptions that can change the outcome. Use the closing date prorations calculator to estimate your specific figure.

This page provides general legal information and calculation tools, not legal advice. DocketMath is not a law firm and does not provide legal representation, and using this site does not create an attorney-client relationship. Laws change and exceptions apply, so deadlines and amounts specific to your situation should be confirmed with a licensed attorney in your jurisdiction.