Radcliff, Kentucky Property Taxes
The median property tax rate in Radcliff, KY is 0.14%, considerably lower than both the national median of 0.99% and the Kentucky state median of 1.02%. With a median home value of $15,500 in Radcliff, the typical annual property tax bill is just $43, far below the national median of $2,690. Property taxes in Radcliff 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 Radcliff'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 Radcliff 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
Radcliff, Kentucky Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.14%
Estimate Property Tax Bill
$22
Ownwell’s Radcliff Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Radcliff with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Radcliff 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 Radcliff, Kentucky
Property taxes in Radcliff, Kentucky, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Radcliff is 0.83%, which is significantly lower than the U.S. national median of 0.99%. Local government entities within Radcliff set these rates annually, and they can vary significantly across different neighborhoods. Each year, Radcliff 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 Radcliff's effective property tax rate compares to other areas provides valuable insights into the varying tax landscape across Hardin County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Radcliff Tax Rate
0.14%
Average Hardin County Tax Rate
0.93%
Average Kentucky Tax Rate
1.02%
Average United States Tax Rate
0.99%
Property Tax Rates Across Radcliff, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 40160 | 0.14% | 0.14% | 0.14% | 0.14% | 0.98% |
Source: Ownwell
Property Tax Assessment Values Across Radcliff, Kentucky
In Radcliff, 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 Hardin 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 Radcliff, 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. Notably, the median home price in Radcliff is $15,500. Tax bills can vary significantly, with the 25th percentile tax bill at $13 and the 75th percentile tax bill at $123. 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 Radcliff helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Radcliff Assessed Value
$15,500
Average Hardin County Assessed Value
$21,400
Average Kentucky Assessed Value
$110,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Radcliff, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 40160 | $2,200 | $6,500 | $15,500 | $59,000 | $105,010 |
Source: Ownwell
Property Tax Bills Across Radcliff, Kentucky
In Radcliff, Hardin County, KY, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. This assessed value is then multiplied by the local property tax rate to determine the tax bill. The median home price in Radcliff is $15,500, significantly lower than the national median. Consequently, the property tax bills in this area tend to be lower as well. For instance, the tax bill at the 25th percentile is $13, while at the 75th percentile, it rises to $123. At the 90th percentile, homeowners can expect a tax bill of around $186. These values indicate a relatively low property tax burden compared to other regions, providing some financial relief to homeowners. The local property tax rate and the assessed value of the home are crucial factors in determining the final tax bill, impacting the overall cost of homeownership in Radcliff.
Average Radcliff Tax Bill
$43
Average Hardin County Tax Bill
$132
Average Kentucky Tax Bill
$1,031
Average United States Tax Bill
$2,690
Property Tax Bills Across Radcliff, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 40160 | $4 | $13 | $43 | $123 | $186 |
Source: Ownwell