Staffordsville, Kentucky Property Taxes
The median property tax rate in Staffordsville, KY is 1.02%, which aligns with the state median but is slightly higher than the national median of 0.99%. With a median home value of $63,000 in Staffordsville, the typical annual property tax bill amounts to $519, significantly lower than the national median of $2,690. Property taxes in Staffordsville are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Staffordsville'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 Staffordsville or another part of Johnson County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Staffordsville, Kentucky Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.02%
Estimate Property Tax Bill
$2,040
Ownwell’s Staffordsville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Staffordsville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Staffordsville 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 Staffordsville, Kentucky
Property taxes in Staffordsville, Kentucky, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Staffordsville is 1.02%, higher than both the Kentucky state median and the U.S. national median of 0.99%. Local government entities within Staffordsville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Staffordsville 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 Staffordsville's effective property tax rate to other counties in Kentucky and the national median. For comparison, the 41256 zip code has the highest median property tax rate of 1.02%, while the 41256 zip code also has the lowest median tax rate of 1.02%. Understanding how these cities compare with Staffordsville 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 Staffordsville Tax Rate
1.02%
Average Johnson County Tax Rate
1.01%
Average Kentucky Tax Rate
1.02%
Average United States Tax Rate
0.99%
Property Tax Rates Across Staffordsville, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 41256 | 0.28% | 0.62% | 1.02% | 1.04% | 1.11% |
Source: Ownwell
Property Tax Assessment Values Across Staffordsville, Kentucky
In Staffordsville, 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 Staffordsville, 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, the zip code with the highest median tax bill is 41256, where homeowners see a median tax bill of $519. 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 Staffordsville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Staffordsville Assessed Value
$63,000
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 Staffordsville, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 41256 | $10,000 | $29,000 | $63,000 | $141,875 | $250,000 |
Source: Ownwell
Property Tax Bills Across Staffordsville, Kentucky
In Staffordsville, Johnson County, KY, property tax bills are calculated based on the assessed value of a home. The assessed value is typically a percentage of the market value, which is determined by the local tax assessor. For example, with a median home price of $63,000, homeowners can expect their property tax bills to vary significantly. Factors like the property's location, size, and condition play a crucial role in determining the assessed value. In Johnson County, the 25th percentile tax bill is around $189, while the 75th percentile tax bill is approximately $1,341. The 90th percentile tax bill can reach up to $2,475, reflecting the range of property values and assessments within the area. Compared to the national median property tax rate of 0.99%, Staffordsville's property taxes are relatively modest. However, these taxes still impact homeowners by contributing to local services such as schools, infrastructure, and emergency services, making it essential for residents to understand how their tax bills are calculated and what factors influence them.
Average Staffordsville Tax Bill
$519
Average Johnson County Tax Bill
$379
Average Kentucky Tax Bill
$1,031
Average United States Tax Bill
$2,690
Property Tax Bills Across Staffordsville, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 41256 | $74 | $189 | $519 | $1,341 | $2,475 |
Source: Ownwell