Thousandsticks, Kentucky Property Taxes
The median property tax rate in Thousandsticks, KY is 1.40%, significantly higher than both the national median of 0.99% and the Kentucky state median of 1.02%. With the median home value in Thousandsticks at $28,000, the typical annual property tax bill amounts to $216, which is notably lower than the national median of $2,690. Property taxes in Thousandsticks are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, such as the primary residence and agricultural exemptions. Understanding Thousandsticks' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Thousandsticks or another part of the city, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Thousandsticks, Kentucky Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.4%
Estimate Property Tax Bill
$392
Ownwell’s THOUSANDSTICKS Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in THOUSANDSTICKS with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in THOUSANDSTICKS 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 Thousandsticks, Kentucky
Property taxes in Thousandsticks, Kentucky, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Thousandsticks is 1.40%, significantly higher than both the Kentucky state median and the U.S. national median of 0.99%. Local government entities within Thousandsticks set these rates annually, and they can vary significantly across different neighborhoods. Each year, Thousandsticks 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 Thousandsticks' effective property tax rate to other counties in Kentucky and the national median. For comparison, the highest and lowest median property tax rates in Leslie County are both 1.40%, as seen in the zip code 41766. Understanding how these areas compare with Thousandsticks provides valuable insights into the varying tax landscape across Leslie County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Thousandsticks Tax Rate
1.40%
Average Leslie County Tax Rate
1.40%
Average Kentucky Tax Rate
1.02%
Average United States Tax Rate
0.99%
Property Tax Rates Across Thousandsticks, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 41766 | 0.27% | 1.25% | 1.40% | 1.40% | 1.40% |
Source: Ownwell
Property Tax Assessment Values Across Thousandsticks, Kentucky
In Thousandsticks, 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 Leslie 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 Thousandsticks, 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 Thousandsticks helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill is 41766, both at $216.
Average Thousandsticks Assessed Value
$28,000
Average Leslie County Assessed Value
$28,300
Average Kentucky Assessed Value
$110,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Thousandsticks, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 41766 | $1,700 | $8,750 | $28,000 | $46,200 | $63,360 |
Source: Ownwell
Property Tax Bills Across Thousandsticks, Kentucky
In Thousandsticks, Kentucky, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by county officials and reflects the market value of the property. Homeowners in Leslie County, where Thousandsticks is located, can expect their property tax rate to be influenced by local government funding needs and public services. For instance, with a median home price of $28,000, property tax bills in this area can vary significantly. The 25th percentile tax bill is around $82, while the 75th percentile reaches $634. At the 90th percentile, homeowners might pay up to $868. These figures illustrate the range of tax burdens residents might experience, depending on their property's assessed value and specific circumstances. Compared to the national median property tax rate of 0.99%, the tax bills in Thousandsticks are relatively modest. This can provide some financial relief to homeowners, making it an attractive place for those looking to minimize their property tax expenses while still enjoying the benefits of homeownership.
Average Thousandsticks Tax Bill
$216
Average Leslie County Tax Bill
$267
Average Kentucky Tax Bill
$1,031
Average United States Tax Bill
$2,690
Property Tax Bills Across Thousandsticks, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 41766 | $33 | $82 | $216 | $634 | $868 |
Source: Ownwell