Crummies, Kentucky Property Taxes
The median property tax rate in Crummies, KY is 0.76%, which is lower than both the national median of 0.99% and the Kentucky state median of 1.02%. With the median home value in Crummies, the typical annual property tax bill is $233, significantly less than the national median of $2,690. Property taxes in Crummies 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 Crummies' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Crummies 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
Crummies, Kentucky Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.76%
Estimate Property Tax Bill
$135
Ownwell’s Crummies Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Crummies with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Crummies 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 Crummies, Kentucky
Property taxes in Crummies, Kentucky, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Crummies is 0.76%, lower than both the Kentucky state median and the U.S. national median of 0.99%. Local government entities within Crummies set these rates annually, and they can vary significantly across different neighborhoods. Each year, Crummies 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 Crummies' effective property tax rate to other counties in Kentucky and the national median. For comparison, the 40815 zip code has the highest median property tax rate of 0.76%, while the 40815 zip code also has the lowest median tax rate of 0.76%. Understanding how these cities compare with Crummies provides valuable insights into the varying tax landscape across Harlan County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Crummies Tax Rate
0.76%
Average Harlan County Tax Rate
1.35%
Average Kentucky Tax Rate
1.02%
Average United States Tax Rate
0.99%
Property Tax Rates Across Crummies, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 40815 | 0.28% | 0.46% | 0.76% | 1.05% | 1.23% |
Source: Ownwell
Property Tax Assessment Values Across Crummies, Kentucky
In Crummies, 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 Harlan 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 Crummies, 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 Crummies helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Crummies is $17,775, with tax bills ranging from $154 at the 25th percentile to $360 at the 90th percentile. The highest and lowest median tax bills are both $233 in zip code 40815.
Average Crummies Assessed Value
$17,775
Average Harlan County Assessed Value
$35,000
Average Kentucky Assessed Value
$110,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Crummies, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 40815 | $4,065 | $5,662 | $17,775 | $33,250 | $40,900 |
Source: Ownwell
Property Tax Bills Across Crummies, Kentucky
In Crummies, Harlan County, KY, property tax bills are calculated based on the assessed value of the home, which is determined by local tax assessors. The median home price in Crummies is $17,775, and the property tax rate is applied to this assessed value to compute the tax bill. Various factors such as the property's location, size, and condition are considered in the assessment process. Homeowners in Crummies can expect their annual property tax bills to vary significantly. For instance, the 25th percentile tax bill is $154, while the 75th percentile tax bill reaches $312. At the 90th percentile, homeowners might pay up to $360. These figures highlight the range in property tax burdens within the community. Compared to the national median property tax rate of 0.99%, Crummies residents experience relatively lower tax bills. However, the impact on homeowners can still be substantial, especially for those on fixed incomes or with properties assessed at higher values. Understanding these factors can help residents better anticipate their annual property tax obligations.
Average Crummies Tax Bill
$233
Average Harlan County Tax Bill
$386
Average Kentucky Tax Bill
$1,031
Average United States Tax Bill
$2,690
Property Tax Bills Across Crummies, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 40815 | $106 | $154 | $233 | $312 | $360 |
Source: Ownwell