Herndon, Kentucky Property Taxes
The median property tax rate in Herndon, KY is 0.80%, which is lower than both the national median of 0.99% and Kentucky's state median of 1.02%. With a median home value of $128,540 in Herndon, the typical annual property tax bill is $952, significantly below the national median of $2,690. Property taxes in Herndon are calculated based on the assessed value, which is often less than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Herndon’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 Herndon or another part of Christian County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Herndon, Kentucky Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.8%
Estimate Property Tax Bill
$1,028
Ownwell’s Herndon Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Herndon with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Herndon to provide an estimated property tax bill. This insightful tool helps you understand potential tax liabilities. For those interested in neighborhood-level trends, more localized information is available below. Your property’s assessed value, determined by Christian County, is used for property tax calculations and considers any applicable exemptions.
Property Tax Rates Across Herndon, Kentucky
Property taxes in Herndon, Kentucky, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Herndon is 0.80%, which is lower than the U.S. national median of 0.99%. Local government entities within Herndon set these rates annually, and they can vary significantly across different neighborhoods. Each year, Herndon 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 Herndon's effective property tax rate to other counties in Kentucky and the national median. For comparison, the 42236 zip code has the highest median property tax rate of 0.80%, while the same zip code also has the lowest median tax rate of 0.80%. Understanding how these cities compare with Herndon provides valuable insights into the varying tax landscape across Christian County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Herndon Tax Rate
0.80%
Average Christian County Tax Rate
0.78%
Average Kentucky Tax Rate
1.02%
Average United States Tax Rate
0.99%
Property Tax Rates Across Herndon, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 42236 | 0.50% | 0.76% | 0.80% | 0.83% | 0.88% |
Source: Ownwell
Property Tax Assessment Values Across Herndon, Kentucky
In Herndon, 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 Christian 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 Herndon, 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 Herndon helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills are both recorded at $952.00 in the zip code 42236.
Average Herndon Assessed Value
$128,540
Average Christian County Assessed Value
$110,000
Average Kentucky Assessed Value
$110,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Herndon, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 42236 | $37,250 | $70,000 | $128,540 | $220,025 | $319,100 |
Source: Ownwell
Property Tax Bills Across Herndon, Kentucky
In Herndon, located in Christian County, KY, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The assessed value is then multiplied by the local property tax rate to determine the annual tax bill. For instance, with a median home price of $128,540, homeowners can expect their tax bills to vary significantly. The 25th percentile tax bill is around $477, while the 75th percentile reaches $1,644, and the 90th percentile can be as high as $2,503. The property tax rate in Herndon is influenced by local government budgets and community needs. For comparison, the national median property tax rate is 0.99%. Factors such as home improvements, changes in market value, and local tax policies can affect the assessed value, thereby impacting the tax bill. Homeowners in Herndon need to be aware of these variables as they can significantly influence their annual expenses.
Average Herndon Tax Bill
$952
Average Christian County Tax Bill
$788
Average Kentucky Tax Bill
$1,031
Average United States Tax Bill
$2,690
Property Tax Bills Across Herndon, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 42236 | $246 | $477 | $952 | $1,644 | $2,503 |
Source: Ownwell