Southgate, Kentucky Property Taxes
The median property tax rate in Southgate, KY is 0.41%, considerably lower than both the national median of 0.99% and the Kentucky state median of 1.02%. With the median home value in Southgate at $128,200, the typical annual property tax bill reaches $840, significantly below the national median of $2,690. Property taxes in Southgate 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 Southgate'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 Southgate 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
Southgate, Kentucky Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.41%
Estimate Property Tax Bill
$526
Ownwell’s Southgate Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Southgate with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Southgate 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 Southgate, Kentucky
Property taxes in Southgate, Kentucky, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Southgate is 0.41%, significantly lower than both the Kentucky state median and the U.S. national median of 0.99%. Local government entities within Southgate set these rates annually, and they can vary significantly across different neighborhoods. Each year, Southgate 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 Southgate's effective property tax rate to other counties in Kentucky and the national median. For comparison, the 41071 zip code has the highest median property tax rate of 0.41%, while the same zip code also has the lowest median tax rate of 0.41%. Understanding how these cities compare with Southgate 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 Southgate Tax Rate
0.41%
Average Campbell County Tax Rate
1.05%
Average Kentucky Tax Rate
1.02%
Average United States Tax Rate
0.99%
Property Tax Rates Across Southgate, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 41071 | 0.33% | 0.40% | 0.41% | 1.05% | 1.05% |
Source: Ownwell
Property Tax Assessment Values Across Southgate, Kentucky
In Southgate, 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 Southgate, 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. The median home price in Southgate is $128,200, with property tax bills ranging from $502 at the 25th percentile to $1,517 at the 90th percentile. The highest and lowest median tax bills are both $840, found in the 41071 zip code. By understanding 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 Southgate helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Southgate Assessed Value
$128,200
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 Southgate, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 41071 | $80,000 | $84,000 | $128,200 | $169,560 | $235,000 |
Source: Ownwell
Property Tax Bills Across Southgate, Kentucky
Property tax bills in Southgate, Campbell County, KY, are determined by assessing the market value of a property and applying the local tax rate. The median home price in Southgate is $128,200, which serves as a baseline for calculating property taxes. Homeowners can expect their tax bills to vary based on the assessed value of their property and the specific tax rates set by local authorities. The property tax bill for Southgate residents typically falls within a range, with the 25th percentile at $502 and the 75th percentile at $919. For those at the 90th percentile, the tax bill can reach up to $1,517. These figures illustrate the variability in tax bills depending on the property's assessed value and any applicable exemptions or deductions. Compared to the national median property tax rate of 0.99%, Southgate's tax rates result in a diverse range of tax bills, impacting homeowners differently based on their property's assessed value. This can significantly affect household budgets, making it essential for homeowners to understand their property tax obligations.
Average Southgate Tax Bill
$840
Average Campbell County Tax Bill
$1,294
Average Kentucky Tax Bill
$1,031
Average United States Tax Bill
$2,690
Property Tax Bills Across Southgate, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 41071 | $393 | $502 | $840 | $919 | $1,517 |
Source: Ownwell