Crestview Hills, Kentucky Property Taxes
The median property tax rate in Crestview Hills, KY is 1.07%, slightly higher than both the national median of 0.99% and the Kentucky state median of 1.02%. With the median home value in Crestview Hills at $242,000, the typical annual property tax bill amounts to $2,346, which is below the national median of $2,690. Property taxes in Crestview Hills 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 Crestview Hills' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Crestview Hills 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
Crestview Hills, 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 Crestview Hills Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Crestview Hills with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Crestview Hills 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 Crestview Hills, Kentucky
Property taxes in Crestview Hills, Kentucky, are essential for funding local services such as public schools, road maintenance, and emergency services. The median tax rate in Crestview Hills is 1.07%, which is higher than the U.S. national median of 0.99%. Local government entities within Crestview Hills set these rates annually, and they can vary significantly across different neighborhoods. Each year, Crestview Hills 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 Crestview Hills' effective property tax rate to other areas in Kenton County and the national median. For comparison, the 41017 zip code has the highest median property tax rate of 1.07%, while the same zip code also has the lowest median tax rate of 1.07%. Understanding how these areas compare with Crestview Hills provides valuable insights into the varying tax landscape across Kenton County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Crestview Hills Tax Rate
1.07%
Average Kenton County Tax Rate
1.07%
Average Kentucky Tax Rate
1.02%
Average United States Tax Rate
0.99%
Property Tax Rates Across Crestview Hills, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 41017 | 0.83% | 0.89% | 1.07% | 1.07% | 1.07% |
Source: Ownwell
Property Tax Assessment Values Across Crestview Hills, Kentucky
In Crestview Hills, 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 Kenton 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 Crestview Hills, 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 Crestview Hills helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 41017 has both the highest and lowest median tax bills at $2,346, reflecting the median home price of $242,000.
Property Tax Assessment Values Across Crestview Hills, Kentucky
Source: Ownwell
$65,000
$317,350
$569,700
Average Crestview Hills Assessed Value
$242,000
Average Kenton County Assessed Value
$181,500
Average Kentucky Assessed Value
$110,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Crestview Hills, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 41017 | $165,000 | $198,000 | $242,000 | $310,000 | $509,000 |
Source: Ownwell
Property Tax Bills Across Crestview Hills, Kentucky
In Crestview Hills, located in Kenton County, KY, property tax bills are calculated based on the assessed value of a property. The assessed value is determined by the local tax assessor and reflects the market value of the home. For instance, with a median home price of $242,000, the property tax rate is applied to this assessed value to determine the tax bill. Several factors influence the property tax bill, including the property's location, size, and any improvements made. Homeowners in Crestview Hills can expect tax bills to vary significantly. The tax bill at the 25th percentile is around $1,851, while at the 75th percentile, it can reach $3,219. For those at the 90th percentile, tax bills can be as high as $5,283. Comparatively, the median tax bill in Crestview Hills stands at $2,346, which is higher than the national median property tax rate of 0.99%. This variation in tax bills can significantly impact homeowners' financial planning and budgeting.
Average Crestview Hills Tax Bill
$2,346
Average Kenton County Tax Bill
$2,000
Average Kentucky Tax Bill
$1,031
Average United States Tax Bill
$2,690
Property Tax Bills Across Crestview Hills, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 41017 | $1,429 | $1,851 | $2,346 | $3,219 | $5,283 |
Source: Ownwell