Berry, Kentucky Property Taxes
The median property tax rate in Berry, KY is 1.29%, which is considerably higher than both the national median of 0.99% and the Kentucky state median of 1.02%. With the median home value in Berry at $78,000, the typical annual property tax bill reaches $810, falling below the national median of $2,690. Property taxes in Berry are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Berry'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 Berry 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
Berry, Kentucky Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.29%
Estimate Property Tax Bill
$1,006
Ownwell’s Berry Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Berry with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Berry 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 Berry, Kentucky
Property taxes in Berry, Kentucky, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Berry is 1.29%, significantly higher than the U.S. national median of 0.99%. Local government entities within Berry set these rates annually, and they can vary significantly across different neighborhoods. Each year, Berry 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 Berry's effective property tax rate to other counties in Kentucky and the national median. For comparison, the 41003 zip code has the highest median property tax rate of 1.29%, while the 41003 zip code also has the lowest median tax rate of 1.29%. Understanding how these cities compare with Berry provides valuable insights into the varying tax landscape across Pendleton County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Berry Tax Rate
1.29%
Average Pendleton County Tax Rate
1.29%
Average Kentucky Tax Rate
1.02%
Average United States Tax Rate
0.99%
Property Tax Rates Across Berry, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 41003 | 0.52% | 0.96% | 1.29% | 1.29% | 1.29% |
Source: Ownwell
Property Tax Assessment Values Across Berry, Kentucky
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Berry, Kentucky. 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 Pendleton 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 Berry, 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 Berry 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 bills is 41003, both at $810.
Average Berry Assessed Value
$78,000
Average Pendleton County Assessed Value
$91,000
Average Kentucky Assessed Value
$110,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Berry, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 41003 | $17,940 | $45,000 | $78,000 | $134,200 | $177,200 |
Source: Ownwell
Property Tax Bills Across Berry, Kentucky
In Berry, located in Pendleton County, KY, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. This assessed value is then multiplied by the local property tax rate to determine the annual tax bill. For homeowners in Berry, the median home price is $78,000. Property tax bills can vary significantly, with the 25th percentile at $408 and the 75th percentile reaching $1,609. The 90th percentile sees tax bills as high as $2,049. These tax bills are crucial for homeowners as they directly impact annual housing costs. Compared to the national median property tax rate of 0.99%, Berry's rates reflect the local economic conditions and funding requirements for public services. The highest and lowest median tax bills in the area are both $810, found in the 41003 zip code. Understanding how these factors interplay helps homeowners anticipate their financial obligations and plan accordingly.
Average Berry Tax Bill
$810
Average Pendleton County Tax Bill
$1,015
Average Kentucky Tax Bill
$1,031
Average United States Tax Bill
$2,690
Property Tax Bills Across Berry, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 41003 | $194 | $408 | $810 | $1,609 | $2,049 |
Source: Ownwell