Dayton, Kentucky Property Taxes
The median property tax rate in Dayton, KY is 1.50%, considerably higher than both the national median of 0.99% and the Kentucky state median of 1.02%. With the median home value in Dayton at $83,000, the typical annual property tax bill reaches $1,161, exceeding the national median of $2,690. Property taxes in Dayton are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Dayton'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 Dayton or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Dayton, 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 Dayton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Dayton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Dayton 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 Dayton, Kentucky
Property taxes in Dayton, Kentucky, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Dayton is 1.50%, significantly higher than the U.S. national median of 0.99%. Local government entities within Dayton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Dayton 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 Dayton's effective property tax rate to other counties in Kentucky and the national median. For comparison, the 41074 zip code has the highest median property tax rate of 1.50%, while the same zip code also has the lowest median tax rate of 1.50%. Understanding how these cities compare with Dayton provides valuable insights into the varying tax landscape across Campbell County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Dayton Tax Rate
1.50%
Average Campbell County Tax Rate
1.05%
Average Kentucky Tax Rate
1.02%
Average United States Tax Rate
0.99%
Property Tax Rates Across Dayton, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 41074 | 0.72% | 1.05% | 1.50% | 1.50% | 1.50% |
Source: Ownwell
Property Tax Assessment Values Across Dayton, Kentucky
In Dayton, 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 Campbell 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 Dayton, 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. Notably, the highest median tax bill in Campbell County is $1,161.00 in the 41074 zip code, which also has the lowest median tax bill. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Dayton Assessed Value
$83,000
Average Campbell County Assessed Value
$157,900
Average Kentucky Assessed Value
$110,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Dayton, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 41074 | $49,000 | $63,600 | $83,000 | $134,400 | $210,400 |
Source: Ownwell
Property Tax Bills Across Dayton, Kentucky
In Dayton, KY, located in Campbell County, property tax bills are calculated based on the assessed value of a home, which is then multiplied by the local tax rate. The assessed value is typically a percentage of the property's market value. For homeowners in Dayton, the median home price is $83,000. The tax bill varies significantly, ranging from the 25th percentile at $780 to the 90th percentile at $2,636. Several factors influence the assessed value, including the property's location, size, and condition. These assessments are crucial as they determine the tax burden on homeowners. For instance, a home in the highest median tax bill zip code, 41074, sees a median tax bill of $1,161. Compared to the national median property tax rate of 0.99%, Dayton's property taxes can represent a significant expense for homeowners, impacting their overall cost of living. Understanding these factors can help homeowners anticipate and manage their property tax obligations more effectively.
Average Dayton Tax Bill
$1,161
Average Campbell County Tax Bill
$1,294
Average Kentucky Tax Bill
$1,031
Average United States Tax Bill
$2,690
Property Tax Bills Across Dayton, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 41074 | $442 | $780 | $1,161 | $1,777 | $2,636 |
Source: Ownwell