Is KY a retirement friendly state? (house, purchase, income)

[Cattknap]

I have been trying to understand KY taxes as they pertain to retirees. I contacted the KY Revenue office and found that there is a $41,110 exclusion for pension income (adjusted) and that seems like quite a nice incentive, although that will only exclude half of our pension income. I did not ask about the tax rate of the non-excluded pension portion. I'm wondering if there are other tax incentives/deductions for retired people. Anyone knowledgeable about this subject? Thanks in advance.

[Kichenwich]

G' Morning Cattknap! This is the website for Ky Revenue. It's a litte confusing to get around, but they have a good Q&A section, as well as a place that you can ask specific questions. Hope this helps!

http://revenue.ky.gov/

[kimmieyky]

Catknap - Kichen is right - that really is the best place to start. The tax laws have recently changed, and things can be very confusing - I think the Q and A will hopefully give you a good lead.

There is also something you should look into - as I do not know the way it works anynore (used to - now it's different), some qualify for the Hometead exemption. It used to be that counted onlynative Kentuckians who had lived in the same house for so long, were of a certain age, under a certain income, etc.

Now - I believe it is not necessary for you to ba a native, you need only meet the other criteria - what this all means is that if you qualify, the home you purchase will be exempt from the usualy yearly taxes.
Check into it - as I am almost positve it has only to do with age and income.

I'll talk to my dad - he lives in Florida - but is a Kentucky native, and before he moved he checked everywhere to see what he would pay here, Florida, and in Ohio where they were.

He can be an encyclopedia of info! (used to be in politics - usually knows something about a littel bit of everything).
Start with the revenue site - call them if you have to - and I'll be back in touch with you about dad.

( if you haven't heard from me by Monday - write am remind me - as my brain is short these days! lol!)
Kimmiey