Ewing, Kentucky Property Taxes
The median property tax rate in Ewing, KY is 0.65%, significantly lower than both the national median of 0.99% and the Kentucky state median of 1.02%. With the median home value in Ewing at $82,500, the typical annual property tax bill is $543, well below the national median of $2,690. Property taxes in Ewing are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Ewing's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Ewing or another part of Nicholas County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Ewing, 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 Ewing Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Ewing with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Ewing to provide an estimate of your property tax bill. This valuable tool helps you understand potential tax liabilities. For those interested in neighborhood-level trends, more localized information is available below. Your property’s assessed value, determined by the county, is used for property tax calculations and considers any applicable exemptions.
Property Tax Rates Across Ewing, Kentucky
Property taxes in Ewing, Kentucky, are essential for funding local services such as public schools, road maintenance, and emergency services. The median tax rate in Ewing is 0.65%, which is lower than the U.S. national median of 0.99%. Local government entities within Ewing set these rates annually, and they can vary significantly across different neighborhoods. Each year, Ewing 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 Ewing's effective property tax rate to other areas in Kentucky and the national median. For comparison, the 41039 zip code has both the highest and lowest median property tax rate of 0.65%. Understanding how these areas compare with Ewing provides valuable insights into the varying tax landscape across Nicholas County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Ewing Tax Rate
0.65%
Average Nicholas County Tax Rate
0.89%
Average Kentucky Tax Rate
1.02%
Average United States Tax Rate
0.99%
Property Tax Rates Across Ewing, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 41039 | 0.25% | 0.38% | 0.65% | 0.95% | 0.95% |
Source: Ownwell
Property Tax Assessment Values Across Ewing, Kentucky
In Ewing, 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 Nicholas 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 Ewing, 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 Ewing helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 41039 has both the highest and lowest median tax bill at $543.
Average Ewing Assessed Value
$82,500
Average Nicholas County Assessed Value
$75,000
Average Kentucky Assessed Value
$110,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Ewing, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 41039 | $13,160 | $40,650 | $82,500 | $161,500 | $247,450 |
Source: Ownwell
Property Tax Bills Across Ewing, Kentucky
In Ewing, Kentucky, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. The assessed value is a percentage of the property's market value. Homeowners in Ewing can expect their property tax bills to vary significantly, with the 25th percentile tax bill at $246 and the 75th percentile at $910. The highest median tax bill in the area is $543, found in the zip code 41039. The tax rate in Ewing is influenced by various factors, including local government budgets and public service funding needs. These taxes fund essential services such as schools, public safety, and infrastructure. For homeowners, this means that while a modestly priced home with a median value of $82,500 might see a relatively low tax bill, higher-valued properties could face substantially higher taxes. Compared to the national median property tax rate of 0.99%, Ewing's tax rates can be considered favorable, offering homeowners a reasonable financial obligation relative to their property values.
Average Ewing Tax Bill
$543
Average Nicholas County Tax Bill
$478
Average Kentucky Tax Bill
$1,031
Average United States Tax Bill
$2,690
Property Tax Bills Across Ewing, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 41039 | $32 | $246 | $543 | $910 | $1,645 |
Source: Ownwell