Whitesville, Kentucky Property Taxes
The median property tax rate in Whitesville, KY is 1.05%, slightly higher than both the national median of 0.99% and the Kentucky state median of 1.02%. With the median home value in Whitesville, the typical annual property tax bill reaches $706, which is significantly lower than the national median of $2,690. Property taxes in Whitesville are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Whitesville'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 Whitesville 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
Whitesville, Kentucky Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.05%
Estimate Property Tax Bill
$882
Ownwell’s Whitesville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Whitesville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Whitesville 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 Whitesville, Kentucky
Property taxes in Whitesville, Kentucky, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Whitesville is 1.05%, which is higher than the U.S. national median of 0.99%. Local government entities within Whitesville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Whitesville 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. Understanding how Whitesville's effective property tax rate compares to other areas provides valuable insights into the varying tax landscape across Daviess County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Whitesville Tax Rate
1.05%
Average Daviess County Tax Rate
0.81%
Average Kentucky Tax Rate
1.02%
Average United States Tax Rate
0.99%
Property Tax Rates Across Whitesville, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 42378 | 0.55% | 0.75% | 1.05% | 1.08% | 1.11% |
Source: Ownwell
Property Tax Assessment Values Across Whitesville, Kentucky
In Whitesville, 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 Daviess 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 Whitesville, 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. Whitesville has a median home price of $84,000, with tax bills ranging from $338 at the 25th percentile to $1,909 at the 90th percentile. The zip code with the highest and lowest median tax bill is 42378, both at $706. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Whitesville Assessed Value
$84,000
Average Daviess County Assessed Value
$110,800
Average Kentucky Assessed Value
$110,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Whitesville, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 42378 | $20,000 | $42,000 | $84,000 | $137,250 | $191,570 |
Source: Ownwell
Property Tax Bills Across Whitesville, Kentucky
In Whitesville, KY, property tax bills are calculated based on the assessed value of the property. The local tax rate is applied to this assessed value to determine the annual tax bill. Homeowners in Whitesville face a median property tax bill of $706, which is significantly lower than the national median property tax rate of 0.99%. Factors influencing the tax bill include the property's assessed value, which is determined by the local tax assessor, and any applicable exemptions that may reduce the taxable amount. For instance, homes in the 25th percentile have tax bills around $338, while those in the 75th percentile can see bills as high as $1231. The highest tax bills, in the 90th percentile, can reach up to $1909. These property taxes fund essential public services such as schools, infrastructure, and emergency services, directly impacting the quality of life in Whitesville. Consequently, understanding how these taxes are calculated can help homeowners better manage their financial planning.
Average Whitesville Tax Bill
$706
Average Daviess County Tax Bill
$710
Average Kentucky Tax Bill
$1,031
Average United States Tax Bill
$2,690
Property Tax Bills Across Whitesville, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 42378 | $156 | $338 | $706 | $1,231 | $1,909 |
Source: Ownwell