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Taxes

  State Property Tax Rates Per $100 Valuation, 2016  
  Selected Class of Property State Rate Local Taxation
Permitted
 
  Real Estate $0.1220 Yes  
  Manufacturing Machinery $0.1500 No  
  Pollution Control Equipment $0.1500 No  
  Inventories:  
      Raw Materials $0.0500 No  
      Goods in Process $0.0500 No  
      Finished Goods $0.0500 Yes  
      Goods-In-Transit Exempt Limited  
  Motor Vehicles $0.4500 Yes  
  Other Tangible Personal Property $0.4500 Yes  
  Source: Kentucky Department of Revenue.  

  Local Property Tax Rates Per $100 Valuation, 2016  
  Taxing Jurisdiction Property Taxes
Per $100 Valuation
 Notes  
  Real Estate Tangibles Motor Vehicles  
  County  
  Boone $0.1940 $0.2407 $0.2190    
  City  
  Florence $0.1820 $0.2840 $0.0000    
  School District  
  Boone County Schools $0.6340 $0.6430 $0.4970    
  Walton-Verona Independent Schools $1.1370 $1.1370 $0.9070    
  Source: Kentucky Department of Revenue.  

  Local Occupational License Taxes, 2016  
  Cities, counties and school districts may levy an occupational license tax on the net profits of businesses and/or on the salaries and wages of employees earned in the jurisdiction. Rates can vary between the two types of occupational license taxes. Occupational license taxes may be levied on businesses as either a flat rate schedule or as a percentage of apportioned net profits or gross receipts. Where both the city and county levy an occupational license tax, a credit may be given, at the option of the local governments, for the amount paid to the city against the occupational license tax of the county. (Consult local jurisdictions for further details.)  
  Taxing Jurisdiction   Tax Rate on
Salaries/Wages
  Tax Rate on
Net Profits/Receipts
 
  County  
  Boone   0.80% (Tiered taxable wages.)   0.80% (on net profits. Mental health tax .15.)  
  City  
  Florence   2.00% (Tiered taxable wages. Mental health tax .15; School tax .50)   0.001% (on gross receipts)  
  School District  
  Boone County Schools   0.50%   0.50% (on net profits)  
  Walton-Verona Independent Schools   No tax   No tax  
  Source: Occupational Taxes Spreadsheet - Kentucky Secretary of State, Local Tax Listing - Kentucky Personnel Cabinet