Edmonton, Kentucky Property Taxes
The median property tax rate in Edmonton, KY is 0.21%, significantly lower than both the national median of 0.99% and the Kentucky state median of 1.02%. With a median home value of $123,100 in Edmonton, the typical annual property tax bill amounts to $336, which is well below the national median of $2,690. Property taxes in Edmonton are calculated 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 Edmonton'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 Edmonton or another part of the city, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Edmonton, Kentucky Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.21%
Estimate Property Tax Bill
$259
Ownwell’s Edmonton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Edmonton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Edmonton 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 Edmonton, Kentucky
Property taxes in Edmonton, Kentucky, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Edmonton is 0.21%, which is significantly lower than both the Kentucky state median and the U.S. national median of 0.99%. Local government entities within Edmonton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Edmonton 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 Edmonton's effective property tax rate to other counties in Kentucky and the national median. Understanding how these cities compare with Edmonton provides valuable insights into the varying tax landscape across Cumberland County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Edmonton Tax Rate
0.21%
Average Cumberland County Tax Rate
0.82%
Average Kentucky Tax Rate
1.02%
Average United States Tax Rate
0.99%
Property Tax Rates Across Edmonton, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 42129 | 0.12% | 0.15% | 0.21% | 0.26% | 0.29% |
Source: Ownwell
Property Tax Assessment Values Across Edmonton, Kentucky
In Edmonton, 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 Cumberland 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. Assessment notices in Edmonton 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. In Edmonton, the zip code with the highest median tax bill is 42129 at $336. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Edmonton Assessed Value
$123,100
Average Cumberland County Assessed Value
$52,750
Average Kentucky Assessed Value
$110,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Edmonton, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 42129 | $61,580 | $84,650 | $123,100 | $161,550 | $184,620 |
Source: Ownwell
Property Tax Bills Across Edmonton, Kentucky
In Edmonton, Kentucky, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by local tax authorities and is a percentage of the property's market value. For instance, in Cumberland County, where Edmonton is located, the median home price is $123,100. Homeowners can expect their tax bills to vary significantly depending on their property's assessed value and the specific tax rate applied. Tax bills in Edmonton reflect a range of values. At the 25th percentile, homeowners pay around $192, while at the 75th percentile, the tax bill rises to approximately $481. For those at the 90th percentile, the bill can be as high as $568. Notably, the highest median tax bill in the area is $336, found in the zip code 42129. These property taxes fund essential local services, including schools, public safety, and infrastructure. Understanding how these factors influence your tax bill can help homeowners better manage their finances and anticipate annual expenses.
Average Edmonton Tax Bill
$336
Average Cumberland County Tax Bill
$329
Average Kentucky Tax Bill
$1,031
Average United States Tax Bill
$2,690
Property Tax Bills Across Edmonton, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 42129 | $105 | $192 | $336 | $481 | $568 |
Source: Ownwell