Hiseville, Kentucky Property Taxes
The median property tax rate in Hiseville, KY is 0.64%, significantly lower than both the national median of 0.99% and the Kentucky state median of 1.02%. With a median home value of $112,000 in Hiseville, the typical annual property tax bill amounts to $716, which is well below the national median of $2,690. Property taxes in Hiseville are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Hiseville's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Hiseville or another part of Barren County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Hiseville, Kentucky Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.02%
Estimate Property Tax Bill
$2,040
Ownwell’s Hiseville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Hiseville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Hiseville to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Hiseville, Kentucky
Property taxes in Hiseville, Kentucky, are essential in funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Hiseville is 0.64%, which is lower than the U.S. national median of 0.99%. Local government entities within Hiseville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hiseville estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Hiseville's effective property tax rate to other regions in Kentucky and the national median. For comparison, the 42152 zip code has the highest median property tax rate of 0.64%, while the same zip code also has the lowest median tax rate of 0.64%. Understanding how these cities compare with Hiseville provides valuable insights into the varying tax landscape across Barren County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Hiseville Tax Rate
0.64%
Average Barren County Tax Rate
1.04%
Average Kentucky Tax Rate
1.02%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hiseville, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 42152 | 0.64% | 0.64% | 0.64% | 0.64% | 0.64% |
Source: Ownwell
Property Tax Assessment Values Across Hiseville, Kentucky
In Hiseville, Kentucky, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Barren County Appraisal District for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In Hiseville, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these valuation processes in Hiseville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Hiseville's median home price is $112,000, with the highest and lowest median tax bills both being $716 in the 42152 zip code. This insight can help residents understand their tax landscape and plan accordingly.
Average Hiseville Assessed Value
$112,000
Average Barren County Assessed Value
$90,000
Average Kentucky Assessed Value
$110,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Hiseville, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 42152 | $112,000 | $112,000 | $112,000 | $112,000 | $112,000 |
Source: Ownwell
Property Tax Bills Across Hiseville, Kentucky
In Hiseville, property tax bills are calculated based on the assessed value of a home, which is determined by local government assessors. The assessed value is a percentage of the market value of the property. For homeowners in Hiseville, located in Barren County, the median home price stands at $112,000. The property tax rate in this region is relatively low compared to the national median property tax rate of 0.99%. Homeowners in Hiseville can expect a consistent property tax bill, with the 25th, 75th, and 90th percentiles all reporting a tax bill of $716. This uniformity indicates a stable tax environment, making it easier for residents to budget their annual expenses. The highest and lowest median tax bills in the area are also $716, highlighting the predictability of property taxes in this locality. This stability in property tax bills can provide homeowners with a sense of financial security, knowing that their annual tax obligations are unlikely to fluctuate significantly.
Average Hiseville Tax Bill
$716
Average Barren County Tax Bill
$755
Average Kentucky Tax Bill
$1,031
Average United States Tax Bill
$2,690
Property Tax Bills Across Hiseville, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 42152 | $716 | $716 | $716 | $716 | $716 |
Source: Ownwell