Are you noticing that your wallet is a bit lighter this year? If so, know you're not alone. Inflation has hit Kentucky hard to the tune of approximately 6.8%, according to this source.
But here's some good news. Despite inflation hitting hard, the overall economy in Kentucky is doing pretty well. So well in fact, that it looks like there will likely be a tax refund coming your way in the next few months. There is a new proposal with a taxpayer rebate program worth $1 billion from the state’s budget surplus. The measure cleared the Senate on a 28-7 vote just days after being unveiled. (source)
How much money would you get with this tax rebate?
This proposal would grant state personal income tax rebates of up to $500 per individual and up to $1,000 per household. It still has to go through the House and likely won't happen this year.
Please follow as I will keep you updated with the situation as more information becomes available.
What do you think of this tax refund program for Kentucky residents? Do you think this is a good idea?
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