Beulah Heights, Kentucky Property Taxes
The median property tax rate in Beulah Heights, KY is 0.82%, which is lower than both the national median of 0.99% and the Kentucky state median of 1.02%. With the median home value in Beulah Heights at $34,750, the typical annual property tax bill is $257, significantly below the national median of $2,690. Property taxes in Beulah Heights are calculated based on the tax assessed value, which often falls below the market value due to exemptions such as the primary residence and agricultural exemptions. Understanding Beulah Heights' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Beulah Heights or another part of the city, gaining insights into the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Beulah Heights, 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 Beulah Heights Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Beulah Heights with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Beulah Heights 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 Beulah Heights, Kentucky
Property taxes in Beulah Heights, Kentucky, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Beulah Heights is 0.82%, which is lower than the U.S. national median of 0.99%. Local government entities within Beulah Heights set these rates annually, and they can vary significantly across different neighborhoods. Each year, Beulah Heights 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 Beulah Heights' effective property tax rate to other areas in Kentucky and the national median. For comparison, the zip code 42653 in McCreary County has the same median property tax rate of 0.82%. Understanding how these cities compare with Beulah Heights provides valuable insights into the varying tax landscape across McCreary County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Beulah Heights Tax Rate
0.82%
Average Mccreary County Tax Rate
0.82%
Average Kentucky Tax Rate
1.02%
Average United States Tax Rate
0.99%
Property Tax Rates Across Beulah Heights, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 42653 | 0.82% | 0.82% | 0.82% | 0.82% | 0.82% |
Source: Ownwell
Property Tax Assessment Values Across Beulah Heights, Kentucky
In Beulah Heights, 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 McCreary 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 Beulah Heights, 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 Beulah Heights helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 42653 has both the highest and lowest median tax bills, each amounting to $257.
Average Beulah Heights Assessed Value
$34,750
Average Mccreary County Assessed Value
$37,000
Average Kentucky Assessed Value
$110,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Beulah Heights, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 42653 | $32,150 | $33,125 | $34,750 | $36,375 | $37,350 |
Source: Ownwell
Property Tax Bills Across Beulah Heights, Kentucky
In Beulah Heights, McCreary 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 example, with a median home price of $34,750, property taxes are relatively low compared to the national median property tax rate of 0.99%. In this region, the tax bill for homes at the 25th, 75th, and 90th percentiles is consistently $257, highlighting a uniform tax burden across different property values. Factors considered in determining the tax bill include the property's location, size, and condition. These taxes fund essential public services such as schools, infrastructure, and emergency services, directly impacting homeowners by maintaining and improving community resources. Homeowners in Beulah Heights benefit from lower property tax rates, making it an attractive area for those seeking affordable living costs. This stability in tax bills provides financial predictability, aiding in long-term financial planning for residents.
Average Beulah Heights Tax Bill
$257
Average Mccreary County Tax Bill
$204
Average Kentucky Tax Bill
$1,031
Average United States Tax Bill
$2,690
Property Tax Bills Across Beulah Heights, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 42653 | $257 | $257 | $257 | $257 | $257 |
Source: Ownwell