Scuddy, Kentucky Property Taxes
The median property tax rate in Scuddy, KY is 1.04%, slightly higher than both the national median of 0.99% and the Kentucky state median of 1.02%. With the median home value in Scuddy, the typical annual property tax bill is $52, which is significantly lower than the national median of $2,690. Property taxes in Scuddy are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Scuddy'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 Scuddy or another part of Perry County, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Scuddy, 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 Scuddy Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Scuddy with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Scuddy 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 Perry County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Scuddy, Kentucky
Property taxes in Scuddy, Kentucky, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Scuddy is 0.58%, which is lower than both the Kentucky state median of 0.83% and the U.S. national median of 0.99%. Local government entities within Scuddy set these rates annually, and they can vary significantly across different neighborhoods. Each year, Scuddy 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 Scuddy's effective property tax rate to other counties in Kentucky and the national median. For comparison, the 41760 zip code has the highest median property tax rate of 0.58%, while the same 41760 zip code also has the lowest median tax rate of 0.58%. Understanding how these cities compare with Scuddy 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 Scuddy 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 Scuddy, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 41760 | 1.04% | 1.04% | 1.04% | 1.04% | 1.04% |
Source: Ownwell
Property Tax Assessment Values Across Scuddy, Kentucky
In Scuddy, Kentucky, understanding the difference between "market value" and "assessed value" is essential 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 Property Valuation Administrator 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 Scuddy, 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 Scuddy helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The lowest tax bills in the area are around $52, while the highest can reach up to $612, reflecting the variability in property values and assessments.
Average Scuddy Assessed Value
$6,750
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 Scuddy, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 41760 | $2,250 | $5,000 | $6,750 | $19,875 | $40,000 |
Source: Ownwell
Property Tax Bills Across Scuddy, Kentucky
In Scuddy, located in Perry County, KY, property tax bills are calculated based on the assessed value of your home. The assessed value is determined by the county assessor and is a percentage of the market value of the property. Once the assessed value is established, the local tax rate is applied to calculate the annual property tax bill. For homeowners in Scuddy, the median home price is $6,750. With property tax bills ranging from the 25th percentile at $52 to the 75th percentile at $172, and up to the 90th percentile at $612, there's a notable variance. This variability can be attributed to differences in property values and the specific tax rates applied. Compared to the national median property tax rate of 0.99%, the property tax rates in Perry County appear to be relatively low. This lower tax burden can significantly affect homeowners by making homeownership more affordable, especially in a region where property values are modest. Understanding these factors can help homeowners better anticipate their annual property tax obligations and plan accordingly.
Average Scuddy Tax Bill
$52
Average Perry County Tax Bill
$104
Average Kentucky Tax Bill
$1,031
Average United States Tax Bill
$2,690
Property Tax Bills Across Scuddy, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 41760 | $23 | $52 | $52 | $172 | $612 |
Source: Ownwell