West Paducah, Kentucky Property Taxes
The median property tax rate in West Paducah, KY is 0.97%, slightly below both the national median of 0.99% and the Kentucky state median of 1.02%. With the median home value in West Paducah at $63,500, the typical annual property tax bill amounts to $486, which is significantly lower than the national median of $2,690. Property taxes in West Paducah are calculated based on the tax assessed value, which is often less than the market value due to exemptions like those for primary residences and agricultural properties. Understanding the property tax system in West Paducah, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of West Paducah or another part of McCracken County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
West Paducah, Kentucky Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.97%
Estimate Property Tax Bill
$616
Ownwell’s West Paducah Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in West Paducah with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in West Paducah 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 West Paducah, Kentucky
Property taxes in West Paducah, Kentucky, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in West Paducah is 0.97%, which is slightly lower than the U.S. national median of 0.99%. Local government entities within West Paducah set these rates annually, and they can vary significantly across different neighborhoods. Each year, West Paducah 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 West Paducah's effective property tax rate to other areas in Kentucky and the national median. For comparison, the 42086 zip code has the highest median property tax rate of 0.97%, while the same zip code also has the lowest median tax rate of 0.97%. Understanding how these cities compare with West Paducah provides valuable insights into the varying tax landscape across McCracken County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average West Paducah Tax Rate
0.97%
Average Mccracken County Tax Rate
0.84%
Average Kentucky Tax Rate
1.02%
Average United States Tax Rate
0.99%
Property Tax Rates Across West Paducah, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 42086 | 0.56% | 0.76% | 0.97% | 0.98% | 0.98% |
Source: Ownwell
Property Tax Assessment Values Across West Paducah, Kentucky
In West Paducah, 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 McCracken 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 West Paducah, 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 West Paducah 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 $486, found in zip code 42086.
Average West Paducah Assessed Value
$63,500
Average Mccracken County Assessed Value
$78,000
Average Kentucky Assessed Value
$110,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across West Paducah, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 42086 | $6,400 | $16,000 | $63,500 | $150,375 | $247,650 |
Source: Ownwell
Property Tax Bills Across West Paducah, Kentucky
In West Paducah, McCracken County, KY, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by local assessors who evaluate the property's market value. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. For homeowners in West Paducah, the median home price stands at $63,500. Property tax bills can vary significantly, with the 25th percentile at $146 and the 75th percentile reaching $1,247. At the 90th percentile, homeowners may see tax bills as high as $2,162. These variations are influenced by factors such as property size, location, and any applicable exemptions. The highest and lowest median tax bills in McCracken County are both $486, specifically in the 42086 zip code. Compared to the national median property tax rate of 0.99%, West Paducah's property tax rates can offer a more affordable alternative for homeowners, impacting their overall cost of living and financial planning.
Average West Paducah Tax Bill
$486
Average Mccracken County Tax Bill
$446
Average Kentucky Tax Bill
$1,031
Average United States Tax Bill
$2,690
Property Tax Bills Across West Paducah, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 42086 | $68 | $146 | $486 | $1,247 | $2,162 |
Source: Ownwell