Bulan, Kentucky Property Taxes
The median property tax rate in Bulan, KY is 1.04%, slightly higher than both the national median of 0.99% and Kentucky's state median of 1.02%. With the median home value in Bulan, the typical annual property tax bill reaches $73, which is significantly lower than the national median of $2,690. Property taxes in Bulan are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as the primary residence and agricultural exemptions. Understanding Bulan'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 Bulan or elsewhere in Perry County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Bulan, Kentucky Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.04%
Estimate Property Tax Bill
$83
Ownwell’s Bulan Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Bulan with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Bulan to provide an estimate of 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 Perry County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Bulan, Kentucky
Property taxes in Bulan, Kentucky, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Bulan is 1.04%, higher than the U.S. national median of 0.99%. Local government entities within Bulan set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bulan 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 Bulan's effective property tax rate to other counties in Kentucky and the national median. For comparison, the 41722 zip code has the highest median property tax rate of 1.04%, while the same zip code also has the lowest median tax rate of 1.04%. Understanding how these areas compare with Bulan provides valuable insights into the varying tax landscape across Perry County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bulan Tax Rate
1.04%
Average Perry County Tax Rate
1.04%
Average Kentucky Tax Rate
1.02%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bulan, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 41722 | 1.04% | 1.04% | 1.04% | 1.04% | 1.04% |
Source: Ownwell
Property Tax Assessment Values Across Bulan, Kentucky
In Bulan, 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 Perry 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 Bulan, 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 Bulan helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The 25th percentile tax bill is $52, while the 75th percentile tax bill is $177, and the 90th percentile tax bill reaches $458, reflecting the range of property tax obligations in the area.
Average Bulan Assessed Value
$8,000
Average Perry County Assessed Value
$11,075
Average Kentucky Assessed Value
$110,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bulan, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 41722 | $1,500 | $5,000 | $8,000 | $26,000 | $50,000 |
Source: Ownwell
Property Tax Bills Across Bulan, Kentucky
In Bulan, located in Perry County, KY, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by local tax assessors who evaluate the property’s market value. In this region, the median home price is relatively low at $8,000. This lower property value significantly impacts the tax bills, making them more affordable for homeowners. For instance, the tax bill at the 25th percentile is just $52, while at the 75th percentile, it rises to $177. At the 90th percentile, homeowners can expect to pay around $458. These figures are considerably lower than the national median property tax rate of 0.99%, reflecting the lower home values in Bulan. This affordability in property taxes can be a significant relief for homeowners, ensuring that they are not overburdened by high tax bills. By understanding these factors, homeowners can better anticipate their annual property tax expenses and manage their finances accordingly.
Average Bulan Tax Bill
$73
Average Perry County Tax Bill
$104
Average Kentucky Tax Bill
$1,031
Average United States Tax Bill
$2,690
Property Tax Bills Across Bulan, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 41722 | $26 | $52 | $73 | $177 | $458 |
Source: Ownwell