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. MCEDC will remain up to date on the changes to the current tax environment and will always focus on providing the most up-to-date information to you.
- New Market Tax Credit eligible
- Opportunity Zone
- No local taxation on manufacturing machinery
- No local taxation on raw material or goods in process
- Property Tax exemptions eligible
Learn more about State Property tax rates and local property tax rates in the chart below.
State Property Tax Rates Per $100 Valuation
| Class of property | State Rate | Local Taxation Permitted |
|---|---|---|
|
Real Estate
|
$0.1140
|
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
|
No
|
|
Inventories: 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
| Taxing Jurisdiction | Real Estate | Tangibles |
|---|---|---|
|
Calloway County
|
$0.1350
|
$0.1546
|
|
City of Murray
|
$0.3154
|
$0.3154
|
|
Calloway County School District
|
$0.4630
|
$0.4630
|
|
Murray Independent School District
|
$0.7090
|
$0.7090
|
Source: Kentucky Department of Revenue