Shepherdsville, Kentucky Property Taxes
The median property tax rate in Shepherdsville, KY is 1.17%, which is higher than both the national median of 0.99% and the Kentucky state median of 1.02%. With a median home value of $160,235, the typical annual property tax bill in Shepherdsville reaches $1,758, still below the national median of $2,690. Property taxes in Shepherdsville are calculated based on the assessed value, which often falls below the market value due to exemptions like primary residence and agricultural exemptions. Understanding Shepherdsville'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 Shepherdsville or another part of Bullitt County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Shepherdsville, 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 Shepherdsville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Shepherdsville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Shepherdsville 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 Shepherdsville, Kentucky
Property taxes in Shepherdsville, Kentucky, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Shepherdsville is 1.17%, higher than both the Kentucky state median and the U.S. national median of 0.99%. Local government entities within Shepherdsville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Shepherdsville 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 Shepherdsville's effective property tax rate to other counties in Kentucky and the national median. For comparison, the 40165 zip code has the highest median property tax rate of 1.17%, while the same 40165 zip code has the lowest median tax rate of 1.17%. Understanding how these cities compare with Shepherdsville provides valuable insights into the varying tax landscape across Bullitt County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Shepherdsville Tax Rate
1.17%
Average Bullitt County Tax Rate
1.18%
Average Kentucky Tax Rate
1.02%
Average United States Tax Rate
0.99%
Property Tax Rates Across Shepherdsville, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 40165 | 0.91% | 1.15% | 1.17% | 1.20% | 1.26% |
Source: Ownwell
Property Tax Assessment Values Across Shepherdsville, Kentucky
In Shepherdsville, 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 Bullitt 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 Shepherdsville, 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 Shepherdsville 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 $1,758, found in the 40165 zip code.
Property Tax Assessment Values Across Shepherdsville, Kentucky
Source: Ownwell
$25,000
$119,142
$213,284
Average Shepherdsville Assessed Value
$160,235
Average Bullitt County Assessed Value
$159,604
Average Kentucky Assessed Value
$110,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Shepherdsville, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 40165 | $18,051 | $73,420 | $160,235 | $232,436 | $298,538 |
Source: Ownwell
Property Tax Bills Across Shepherdsville, Kentucky
In Shepherdsville, located in Bullitt County, KY, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. This assessed value is then multiplied by the local property tax rate to determine the annual tax bill. For instance, with the median home price at $160,235, homeowners can expect varying tax bills depending on their property's assessed value and applicable exemptions. Factors such as property size, location, and condition significantly influence the assessed value. In Shepherdsville, the 25th percentile tax bill is around $778, while the 75th percentile tax bill reaches approximately $2,622, and the 90th percentile can go up to $3,430. These figures show the range of tax burdens homeowners might face. Compared to the national median property tax rate of 0.99%, Shepherdsville's property tax rates can vary, impacting homeowners differently based on their property's valuation. Understanding these factors is crucial for homeowners to anticipate their property tax obligations and plan accordingly.
Average Shepherdsville Tax Bill
$1,758
Average Bullitt County Tax Bill
$1,790
Average Kentucky Tax Bill
$1,031
Average United States Tax Bill
$2,690
Property Tax Bills Across Shepherdsville, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 40165 | $204 | $778 | $1,758 | $2,622 | $3,430 |
Source: Ownwell