Lejunior, Kentucky Property Taxes
The median property tax rate in Lejunior, KY is 1.35%, considerably higher than both the national median of 0.99% and the Kentucky state median of 1.02%. With the median home value in Lejunior at $26,500, the typical annual property tax bill reaches $297, which is significantly lower than the national median of $2,690. Property taxes in Lejunior 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 Lejunior'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 Lejunior or another part of Harlan County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Lejunior, Kentucky Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.35%
Estimate Property Tax Bill
$358
Ownwell’s Lejunior Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lejunior with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lejunior 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 Lejunior, Kentucky
Property taxes in Lejunior, Kentucky, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lejunior is 1.35%, significantly higher than both the Kentucky state median and the U.S. national median of 0.99%. Local government entities within Lejunior set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lejunior 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 Lejunior's effective property tax rate to other counties in Kentucky and the national median. For comparison, the 40849 zip code has both the highest and lowest median property tax rate of 1.35%. Understanding how these areas compare with Lejunior 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 Lejunior Tax Rate
1.35%
Average Harlan County Tax Rate
1.35%
Average Kentucky Tax Rate
1.02%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lejunior, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 40849 | 0.65% | 1.35% | 1.35% | 1.35% | 1.35% |
Source: Ownwell
Property Tax Assessment Values Across Lejunior, Kentucky
In Lejunior, 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 Lejunior, 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 Lejunior helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 40849 has the highest and lowest median tax bill, both at $297.
Average Lejunior Assessed Value
$26,500
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 Lejunior, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 40849 | $5,910 | $15,250 | $26,500 | $44,838 | $67,600 |
Source: Ownwell
Property Tax Bills Across Lejunior, Kentucky
In Lejunior, property tax bills are calculated based on the assessed value of a property, which is influenced by factors such as the property's market value and any applicable exemptions. The median home price in Lejunior is $26,500, significantly lower than the national average. Property tax rates are applied to this assessed value to determine the final tax bill. For homeowners in Lejunior, the tax bill can vary widely. The 25th percentile tax bill is around $135, while the 75th percentile tax bill reaches $506. At the higher end, the 90th percentile tax bill can go up to $810. The median tax bill in Lejunior stands at $297, which is relatively modest compared to the national median property tax rate of 0.99%. These property tax bills impact homeowners by influencing their annual housing costs. Lower tax bills can make homeownership more affordable, while higher tax bills can add a significant financial burden. Understanding these factors is crucial for homeowners to manage their expenses effectively.
Average Lejunior Tax Bill
$297
Average Harlan County Tax Bill
$386
Average Kentucky Tax Bill
$1,031
Average United States Tax Bill
$2,690
Property Tax Bills Across Lejunior, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 40849 | $45 | $135 | $297 | $506 | $810 |
Source: Ownwell