Columbus, Kentucky Property Taxes
The median property tax rate in Columbus, KY is 1.04%, slightly higher than both the national median of 0.99% and the Kentucky state median of 1.02%. With the median home value in Columbus at $29,800, the typical annual property tax bill is $285, which is significantly lower than the national median of $2,690. Property taxes in Columbus are calculated based on the tax assessed value, which often falls below the market value due to exemptions such as the primary residence and agricultural exemptions. Understanding Columbus'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 Columbus or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Columbus, Kentucky Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.04%
Estimate Property Tax Bill
$310
Ownwell’s Columbus Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Columbus with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Columbus 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 Columbus, Kentucky
Property taxes in Columbus, Kentucky, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Columbus is 1.04%, higher than the U.S. national median of 0.99%. Local government entities within Columbus set these rates annually, and they can vary significantly across different neighborhoods. Each year, Columbus 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 Columbus's effective property tax rate to other counties in Kentucky and the national median. For comparison, the 42032 zip code has both the highest and lowest median property tax rate of 1.04%. Understanding how these cities compare with Columbus provides valuable insights into the varying tax landscape across Hickman County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Columbus Tax Rate
1.04%
Average Hickman County Tax Rate
1.04%
Average Kentucky Tax Rate
1.02%
Average United States Tax Rate
0.99%
Property Tax Rates Across Columbus, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 42032 | 1.04% | 1.04% | 1.04% | 1.04% | 1.09% |
Source: Ownwell
Property Tax Assessment Values Across Columbus, Kentucky
In Columbus, 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 Hickman 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 Columbus, 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. The median home price in Columbus is $29,800, with tax bills ranging from $140 at the 25th percentile to $735 at the 90th percentile. The zip code 42032 has the highest and lowest median tax bill of $285. Being aware of these valuation processes in Columbus helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Columbus Assessed Value
$29,800
Average Hickman County Assessed Value
$50,000
Average Kentucky Assessed Value
$110,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Columbus, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 42032 | $4,200 | $15,750 | $29,800 | $46,250 | $72,620 |
Source: Ownwell
Property Tax Bills Across Columbus, Kentucky
In Columbus, located in Hickman County, KY, property tax bills are calculated based on the assessed value of a home, which is determined by local tax assessors. The median home price in this area is $29,800. Factors influencing the tax bill include the property's assessed value and the local tax rate. For example, the median tax bill in the highest and lowest zip codes within the county is $285.00, indicating a relatively uniform tax rate across the region. Homeowners in Columbus can expect tax bills to range significantly. The 25th percentile tax bill is $140, while the 75th percentile tax bill is $462. For those at the 90th percentile, tax bills can reach up to $735. This variability means that while some homeowners may face relatively low property taxes, others might see higher bills, depending on the assessed value of their property. Compared to the national median property tax rate of 0.99%, Columbus offers a more affordable property tax environment for its residents.
Average Columbus Tax Bill
$285
Average Hickman County Tax Bill
$412
Average Kentucky Tax Bill
$1,031
Average United States Tax Bill
$2,690
Property Tax Bills Across Columbus, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 42032 | $38 | $140 | $285 | $462 | $735 |
Source: Ownwell