Belcher, Kentucky Property Taxes
The median property tax rate in Belcher, KY is 1.37%, considerably higher than both the national median of 0.99% and the Kentucky state median of 1.02%. With the median home value in Belcher at $32,000, the typical annual property tax bill reaches $195, significantly below the national median of $2,690. Property taxes in Belcher 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 Belcher'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 Belcher or another part of Pike County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Belcher, 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 Belcher Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Belcher with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Belcher 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 Belcher, Kentucky
Property taxes in Belcher, Kentucky, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Belcher is 0.73%, 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 Belcher set these rates annually, and they can vary significantly across different neighborhoods. Each year, Belcher 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 Belcher's effective property tax rate to other counties in Kentucky and the national median. For comparison, Pike County has the highest median property tax rate of 0.83%, while the lowest median tax rate is also found in Pike County at 0.83%. Understanding how these cities compare with Belcher provides valuable insights into the varying tax landscape across Pike County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Belcher Tax Rate
1.37%
Average Pike County Tax Rate
1.37%
Average Kentucky Tax Rate
1.02%
Average United States Tax Rate
0.99%
Property Tax Rates Across Belcher, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 41513 | 0.13% | 0.26% | 1.37% | 1.50% | 1.83% |
Source: Ownwell
Property Tax Assessment Values Across Belcher, Kentucky
In Belcher, 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 Pike 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 Belcher, 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. The median home price here is $32,000, with tax bills ranging significantly. The 25th percentile tax bill is $48, while the 75th percentile tax bill is $532. The highest median tax bill, $195, is found in zip code 41513. Being aware of these valuation processes in Belcher helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Belcher Assessed Value
$32,000
Average Pike County Assessed Value
$25,000
Average Kentucky Assessed Value
$110,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Belcher, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 41513 | $4,820 | $12,700 | $32,000 | $52,900 | $70,180 |
Source: Ownwell
Property Tax Bills Across Belcher, Kentucky
In Belcher, KY, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The assessed value is a percentage of the home's market value. For example, with a median home price of $32,000, the assessed value is used to calculate the tax bill. Various factors, such as property size, location, and condition, influence this assessed value. Homeowners in Belcher experience a range of property tax bills. At the 25th percentile, the tax bill is around $48, while at the 75th percentile, it rises to $532. The 90th percentile sees tax bills as high as $963. In comparison, the highest median tax bill in Pike County is $195.00 in the zip code 41513. These tax bills significantly impact homeowners' finances, making it essential to understand how property taxes are calculated and the factors that contribute to the final amount.
Average Belcher Tax Bill
$195
Average Pike County Tax Bill
$205
Average Kentucky Tax Bill
$1,031
Average United States Tax Bill
$2,690
Property Tax Bills Across Belcher, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 41513 | $48 | $48 | $195 | $532 | $963 |
Source: Ownwell