Sawyer, Kentucky Property Taxes
The median property tax rate in Sawyer, KY is 0.82%, which is lower than both the national median of 0.99% and the Kentucky state median of 1.02%. With a median home value of $8,000 in Sawyer, the typical annual property tax bill is $54, significantly below the national median of $2,690. Property taxes in Sawyer are calculated based on the tax assessed value, which often falls below the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Sawyer'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 Sawyer 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
Sawyer, 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 Sawyer Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Sawyer with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Sawyer 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 Sawyer, Kentucky
Property taxes in Sawyer, Kentucky, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Sawyer is 0.82%, which is below the U.S. national median of 0.99%. Local government entities within Sawyer set these rates annually, and they can vary significantly across different neighborhoods. Each year, Sawyer 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 Sawyer's effective property tax rate to other counties in Kentucky and the national median. For comparison, the 42634 zip code has the highest median property tax rate of 0.82%, while the 42634 zip code also has the lowest median tax rate of 0.82%. Understanding how these cities compare with Sawyer 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 Sawyer 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 Sawyer, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 42634 | 0.38% | 0.63% | 0.82% | 0.82% | 0.82% |
Source: Ownwell
Property Tax Assessment Values Across Sawyer, Kentucky
In Sawyer, 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 Sawyer, 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 Sawyer helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Sawyer is $8,000, with tax bills ranging from $29 at the 25th percentile to $396 at the 90th percentile.
Average Sawyer Assessed Value
$8,000
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 Sawyer, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 42634 | $1,300 | $3,600 | $8,000 | $32,000 | $62,000 |
Source: Ownwell
Property Tax Bills Across Sawyer, Kentucky
In Sawyer, located in McCreary County, KY, property tax bills are calculated based on the assessed value of a property. The assessed value is typically determined by the local tax assessor's office and reflects the market value of the home. For homeowners in Sawyer, the median home price is $8,000, which is significantly lower than the national median home price. Property tax rates in Sawyer are applied to this assessed value to determine the annual tax bill. For example, homeowners in the 25th percentile can expect a tax bill of approximately $29, while those in the 75th percentile might pay around $158. At the higher end, the 90th percentile tax bill reaches up to $396. These figures illustrate the range of property tax burdens across different property values within the city. The relatively low home prices in Sawyer mean that even with the local tax rates, the overall tax burden on homeowners is generally lower compared to other regions with higher property values. This can make homeownership more affordable for residents in this area.
Average Sawyer Tax Bill
$54
Average Mccreary County Tax Bill
$204
Average Kentucky Tax Bill
$1,031
Average United States Tax Bill
$2,690
Property Tax Bills Across Sawyer, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 42634 | $14 | $29 | $54 | $158 | $396 |
Source: Ownwell