Fredonia, Kentucky Property Taxes
The median property tax rate in Fredonia, KY is 0.92%, slightly below the national median of 0.99% and the Kentucky state median of 1.02%. With the median home value in Fredonia at $60,450, the typical annual property tax bill amounts to $475, significantly lower than the national median of $2,690. Property taxes in Fredonia are based on the tax assessed value, which often falls below the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Fredonia'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 Fredonia or another part of the city, gaining insight into the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Fredonia, Kentucky Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.92%
Estimate Property Tax Bill
$556
Ownwell’s Fredonia Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Fredonia with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Fredonia to provide an estimate of your property tax bill. This valuable tool helps you understand potential tax liabilities. For those interested in more detailed trends at the neighborhood level, additional localized information is available below. Your property’s assessed value is determined by the county for property tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Fredonia, Kentucky
Property taxes in Fredonia, Kentucky, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Fredonia is 0.92%, slightly below the U.S. national median of 0.99%. Local government entities within Fredonia set these rates annually, and they can vary significantly across different neighborhoods. Each year, Fredonia 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 Fredonia's effective property tax rate to other counties in Kentucky and the national median. For comparison, the 42411 zip code has both the highest and lowest median property tax rate of 0.92%. Understanding how these cities compare with Fredonia provides valuable insights into the varying tax landscape across Crittenden County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Fredonia Tax Rate
0.92%
Average Crittenden County Tax Rate
0.92%
Average Kentucky Tax Rate
1.02%
Average United States Tax Rate
0.99%
Property Tax Rates Across Fredonia, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 42411 | 0.22% | 0.51% | 0.92% | 1.04% | 1.22% |
Source: Ownwell
Property Tax Assessment Values Across Fredonia, Kentucky
In Fredonia, 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 Crittenden 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 Fredonia, 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 Fredonia helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the median home price in Fredonia is $60,450, with the highest median tax bill in zip code 42411 at $475, and the lowest median tax bill also at $475.
Average Fredonia Assessed Value
$60,450
Average Crittenden County Assessed Value
$55,000
Average Kentucky Assessed Value
$110,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Fredonia, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 42411 | $13,800 | $33,500 | $60,450 | $100,100 | $165,200 |
Source: Ownwell
Property Tax Bills Across Fredonia, Kentucky
In Fredonia, Crittenden County, KY, property tax bills are calculated based on the assessed value of a property, which is determined by local tax assessors. The median home price in the area is $60,450. Homeowners can expect a range of tax bills depending on their property's assessed value and the applicable tax rate. For those in the 25th percentile, tax bills are around $185, while those in the 75th percentile may see bills as high as $799. The 90th percentile reaches up to $1,332, indicating a significant variation based on property value. The property tax rate in Fredonia is influenced by local government budgets and funding needs for public services such as schools, infrastructure, and emergency services. With the national median property tax rate at 0.99%, Fredonia's tax bills reflect a localized approach to funding community needs. Homeowners should be aware that their property tax bill directly impacts their annual housing costs and can fluctuate based on changes in property assessments and local tax rates.
Average Fredonia Tax Bill
$475
Average Crittenden County Tax Bill
$414
Average Kentucky Tax Bill
$1,031
Average United States Tax Bill
$2,690
Property Tax Bills Across Fredonia, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 42411 | $66 | $185 | $475 | $799 | $1,332 |
Source: Ownwell