Blue Ridge Manor, Kentucky Property Taxes
The median property tax rate in Blue Ridge Manor, KY is 1.16%, higher than both the national median of 0.99% and the Kentucky state median of 1.02%. With the median home value in Blue Ridge Manor, the typical annual property tax bill reaches $78, significantly lower than the national median of $2,690. Property taxes in Blue Ridge Manor are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence exemption. Understanding Blue Ridge Manor'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 Blue Ridge Manor 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
Blue Ridge Manor, Kentucky Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.16%
Estimate Property Tax Bill
$78
Ownwell’s Blue Ridge Manor Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Blue Ridge Manor with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Blue Ridge Manor 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 Blue Ridge Manor, Kentucky
Property taxes in Blue Ridge Manor, Kentucky, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Blue Ridge Manor is 1.16%, higher than both the Kentucky state median and the U.S. national median of 0.99%. Local government entities within Blue Ridge Manor set these rates annually, and they can vary significantly across different neighborhoods. Each year, Blue Ridge Manor 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 Blue Ridge Manor's effective property tax rate to other counties in Kentucky and the national median. For comparison, the 40223 zip code has both the highest and lowest median property tax rate of 1.16%. Understanding how these cities compare with Blue Ridge Manor provides valuable insights into the varying tax landscape across Jefferson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Blue Ridge Manor Tax Rate
1.16%
Average Jefferson County Tax Rate
1.17%
Average Kentucky Tax Rate
1.02%
Average United States Tax Rate
0.99%
Property Tax Rates Across Blue Ridge Manor, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 40223 | 1.16% | 1.16% | 1.16% | 1.16% | 1.16% |
Source: Ownwell
Property Tax Assessment Values Across Blue Ridge Manor, Kentucky
In Blue Ridge Manor, 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 Jefferson County Property Valuation Administrator 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 Blue Ridge Manor, 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. For instance, homes in the zip code with the highest tax bills have an annual cost of $90, while those in the lowest have a tax bill of $71. 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 helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Blue Ridge Manor, Kentucky
Source: Ownwell
$6,750
$618,600
$1,230,450
Average Blue Ridge Manor Assessed Value
$6,750
Average Jefferson County Assessed Value
$181,690
Average Kentucky Assessed Value
$110,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Blue Ridge Manor, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 40223 | $5,750 | $6,125 | $6,750 | $7,375 | $7,750 |
Source: Ownwell
Property Tax Bills Across Blue Ridge Manor, Kentucky
In Blue Ridge Manor, property tax bills are calculated based on the assessed value of a home, which is determined by the Jefferson County property assessor. The assessed value is typically a percentage of the property's market value. Homeowners in Blue Ridge Manor can expect their property tax bills to reflect this assessed value, multiplied by the local tax rate. The median home price in Blue Ridge Manor is $6,750, which is significantly lower than the national median. Property tax bills in this area vary, with the 25th percentile paying around $71, the 75th percentile at $85, and the 90th percentile reaching up to $90. These figures are notably lower compared to the national median property tax rate of 0.99%. Factors such as property improvements, neighborhood changes, and market conditions can influence assessed values, thereby affecting the tax bills. Lower property tax bills can make homeownership more affordable, but it also means fewer resources for local services funded by these taxes.
Average Blue Ridge Manor Tax Bill
$78
Average Jefferson County Tax Bill
$2,069
Average Kentucky Tax Bill
$1,031
Average United States Tax Bill
$2,690
Property Tax Bills Across Blue Ridge Manor, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 40223 | $67 | $71 | $78 | $85 | $90 |
Source: Ownwell