Carlisle, Kentucky Property Taxes
The median property tax rate in Carlisle, KY is 1.05%, slightly higher than both the national median of 0.99% and the Kentucky state median of 1.02%. With a median home value of $101,750 in Carlisle, the typical annual property tax bill amounts to $957, which is below the national median of $2,690. Property taxes in Carlisle are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Carlisle's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Carlisle or another part of Bath County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Carlisle, Kentucky Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.05%
Estimate Property Tax Bill
$1,068
Ownwell’s Carlisle Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Carlisle with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Carlisle 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 Carlisle, Kentucky
Property taxes in Carlisle, Kentucky, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Carlisle is 0.73%, significantly lower than both the Kentucky state median of 0.83% and the U.S. national median of 0.99%. Local government entities within Carlisle set these rates annually, and they can vary significantly across different neighborhoods. Each year, Carlisle 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 Carlisle's effective property tax rate to other counties in Kentucky and the national median. For comparison, the 40311 zip code has the highest median property tax rate of 1.05%, while the same zip code also has the lowest median tax rate of 1.05%. Understanding how these areas compare with Carlisle provides valuable insights into the varying tax landscape across Bath County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Carlisle Tax Rate
1.05%
Average Bath County Tax Rate
1.17%
Average Kentucky Tax Rate
1.02%
Average United States Tax Rate
0.99%
Property Tax Rates Across Carlisle, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 40311 | 0.49% | 0.57% | 1.05% | 1.17% | 1.17% |
Source: Ownwell
Property Tax Assessment Values Across Carlisle, Kentucky
In Carlisle, 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 local 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 Carlisle, 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 Carlisle helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $957.00, found in the 40311 zip code.
Average Carlisle Assessed Value
$101,750
Average Bath County Assessed Value
$55,200
Average Kentucky Assessed Value
$110,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Carlisle, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 40311 | $46,700 | $64,375 | $101,750 | $142,500 | $173,450 |
Source: Ownwell
Property Tax Bills Across Carlisle, Kentucky
In Carlisle, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of the market value. For homeowners in Carlisle, the median home price is $101,750. The assessed value is then multiplied by the local property tax rate to determine the annual tax bill. Factors such as the property's location, size, and improvements can influence the assessed value. For example, in Carlisle, the property tax bills range significantly. At the 25th percentile, the tax bill is $471, while at the 75th percentile, it rises to $1,533. For those in the 90th percentile, the tax bill can be as high as $1,773. Comparatively, the highest median tax bill in the region is $957, observed in the 40311 zip code of Bath County. This variation affects homeowners differently, impacting their annual expenses and potentially influencing decisions about property purchases or improvements. Understanding these factors can help homeowners better anticipate their financial commitments.
Average Carlisle Tax Bill
$957
Average Bath County Tax Bill
$496
Average Kentucky Tax Bill
$1,031
Average United States Tax Bill
$2,690
Property Tax Bills Across Carlisle, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 40311 | $295 | $471 | $957 | $1,533 | $1,773 |
Source: Ownwell