Eubank, Kentucky Property Taxes
The median property tax rate in Eubank, KY is 0.81%, which is lower than both the national median of 0.99% and the Kentucky state median of 1.02%. With a median home value in Eubank of $45,000, the typical annual property tax bill is around $278, significantly below the national median of $2,690. Property taxes in Eubank are calculated based on the assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Eubank'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 Eubank or another part of Pulaski County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Eubank, Kentucky Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.81%
Estimate Property Tax Bill
$365
Ownwell’s Eubank Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Eubank with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Eubank 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 Eubank, Kentucky
Property taxes in Eubank, Kentucky, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Eubank is 0.81%, which is lower than both the Kentucky state median and the U.S. national median of 0.99%. Local government entities within Eubank set these rates annually, and they can vary significantly across different neighborhoods. Each year, Eubank 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 Eubank's effective property tax rate to other counties in Kentucky and the national median. For comparison, the 42567 zip code has the highest median property tax rate of 0.81%, while the same zip code also has the lowest median tax rate of 0.81%. Understanding how these cities compare with Eubank provides valuable insights into the varying tax landscape across Pulaski County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Eubank Tax Rate
0.81%
Average Pulaski County Tax Rate
0.81%
Average Kentucky Tax Rate
1.02%
Average United States Tax Rate
0.99%
Property Tax Rates Across Eubank, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 42567 | 0.28% | 0.53% | 0.80% | 0.80% | 0.81% |
Source: Ownwell
Property Tax Assessment Values Across Eubank, Kentucky
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Eubank, 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 Pulaski 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 Eubank, 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 Eubank helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $278.00, found in the 42567 zip code.
Average Eubank Assessed Value
$45,000
Average Pulaski County Assessed Value
$57,500
Average Kentucky Assessed Value
$110,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Eubank, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 42567 | $5,000 | $12,000 | $45,000 | $112,000 | $200,000 |
Source: Ownwell
Property Tax Bills Across Eubank, Kentucky
In Eubank, property tax bills are determined based on the assessed value of a home, which is typically a percentage of its market value. For homeowners in Pulaski County, the median home price is $45,000. The property tax rate is applied to this assessed value to calculate the annual tax bill. Factors such as location, property size, and any applicable exemptions or deductions can influence the final amount. For example, the 25th percentile tax bill in Eubank is $80, while the 75th percentile tax bill is $644, and the 90th percentile tax bill can go up to $1,046. Comparatively, the highest median tax bill in the area is $278, which aligns with the lowest median tax bill, both occurring in the 42567 zip code. Understanding these factors helps homeowners anticipate their property tax obligations and plan accordingly. By knowing how their tax bill is calculated, residents can better manage their finances and explore potential savings through available exemptions.
Average Eubank Tax Bill
$278
Average Pulaski County Tax Bill
$362
Average Kentucky Tax Bill
$1,031
Average United States Tax Bill
$2,690
Property Tax Bills Across Eubank, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 42567 | $36 | $80 | $278 | $644 | $1,046 |
Source: Ownwell