East Point, Kentucky Property Taxes
The median property tax rate in East Point, KY is 1.01%, slightly higher than the national median of 0.99% but just below the Kentucky state median of 1.02%. With a median home value of $59,150 in East Point, the typical annual property tax bill amounts to $435, significantly less than the national median of $2,690. Property taxes here are calculated based on the assessed value, which is often lower than the market value due to exemptions such as those for primary residences and agricultural properties. Understanding East Point's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of East Point or another part of the city, grasping the local property tax system is advantageous for both homeowners and real estate investors.
Last Updated June 14, 2024
East Point, Kentucky Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.01%
Estimate Property Tax Bill
$597
Ownwell’s East Point Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in East Point with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in East Point 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 East Point, Kentucky
Property taxes in East Point, Kentucky, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in East Point is 1.01%, higher than both the Kentucky state median and the U.S. national median of 0.99%. Local government entities within East Point set these rates annually, and they can vary significantly across different neighborhoods. Each year, East Point 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 East Point's effective property tax rate to other counties in Kentucky and the national median. For comparison, the 41216 zip code has the highest median property tax rate of 1.01%, while the same zip code also has the lowest median tax rate of 1.01%. Understanding how these cities compare with East Point provides valuable insights into the varying tax landscape across Johnson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average East Point Tax Rate
1.01%
Average Johnson County Tax Rate
1.01%
Average Kentucky Tax Rate
1.02%
Average United States Tax Rate
0.99%
Property Tax Rates Across East Point, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 41216 | 0.30% | 0.54% | 1.01% | 1.05% | 1.13% |
Source: Ownwell
Property Tax Assessment Values Across East Point, Kentucky
In East Point, 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 Johnson 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 East Point, 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 East Point helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $435, found in the 41216 zip code.
Average East Point Assessed Value
$59,150
Average Johnson County Assessed Value
$56,700
Average Kentucky Assessed Value
$110,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across East Point, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 41216 | $10,150 | $26,275 | $59,150 | $100,000 | $158,460 |
Source: Ownwell
Property Tax Bills Across East Point, Kentucky
In East Point, KY, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The median home price in East Point stands at $59,150. Homeowners in this area experience a range of property tax bills, with the 25th percentile at $175 and the 75th percentile at $923, reflecting the variability in property values and tax rates. The 90th percentile tax bill can reach up to $1,514, indicating that higher-value homes incur significantly higher taxes. Several factors influence the tax bill, including the property's assessed value, local tax rates, and any applicable exemptions or deductions. Homeowners should be aware that higher assessed values and tax rates directly impact their annual tax burden. For comparison, the national median property tax rate is 0.99%, which can provide a benchmark for understanding local tax obligations. In East Point, the highest and lowest median tax bills are both $435, indicating a specific zip code where property values and tax rates converge. This system ensures that property taxes are proportionate to the value of the home, affecting homeowners' financial planning and overall cost of living.
Average East Point Tax Bill
$435
Average Johnson County Tax Bill
$379
Average Kentucky Tax Bill
$1,031
Average United States Tax Bill
$2,690
Property Tax Bills Across East Point, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 41216 | $75 | $175 | $435 | $923 | $1,514 |
Source: Ownwell