TAXES

Whether you are a new company relocating to Murray, Kentucky, or an existing company expanding here, there are tax incentives that may be available to you. Working with State and local officials, MCEDC will help your company take advantage of every opportunity to minimize your tax burden, legally and appropriately, while providing necessary services.

Our current tax structure already provides pro-business incentives, however, Governor Bevin and our legislature recognizes the importance of further business privileges. They are scheduled to totally revamp and improve our system in a 2018 session. MCEDC will remain up to date on the improvements to the current tax environment, and will always focus on providing the most up-to-date information to you.

A few facts about our current tax environment include:

  • No local taxation on manufacturing machinery
  • No local taxation on raw materials or goods in process
  • Property Tax Exemptions available
  • There is currently no local taxation in Murray on net profits

The Kentucky Business One Stop website provides an overview of business taxes in the Commonwealth.

Learn more about State Property tax rates and local property tax rates in the chart below.

State Property Tax Rates Per $100 Valuation

Source: Kentucky Department of Revenue
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
Inventories: Goods in Process $0.0500 No
Inventories: Finished Goods $0.0500 Yes
Inventories: Goods-in-Transit exempt Limited
Motor Vehicles $0.4500 Yes
Other Tangible Personal Property $0.4500 Yes

Local Property Tax Rates Per $100 Valuation

Source: Kentucky Department of Revenue
Taxing Jurisdiction Real Estate Tangibles Motor Vehicles
County
Calloway $0.2400 $0.2270 $0.2010
City
Hazel $0.4700 $0.4700 $0.4700
Murray $0.4260 $0.4260 $0.3800
School Districts
Calloway County $0.4340 $0.4340 $0.5210
Murray Independent $0.6380 $0.6380 $0.5440

To learn more about Kentucky business taxes, click here.

To learn more about federal business taxes, click here.

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1004 WALDROP DRIVE 
MURRAY, KY 42071

270.762.3789  | F  270.762.4180 
E-MAIL markmanning@thinkmurray.com

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