Brooksville, Kentucky Property Taxes
The median property tax rate in Brooksville, 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 Brooksville at $77,850, the typical annual property tax bill reaches $789, which is below the national median of $2,690. Property taxes in Brooksville 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 Brooksville'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 Brooksville 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
Brooksville, 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 Brooksville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Brooksville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Brooksville 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 Brooksville, Kentucky
Property taxes in Brooksville, Kentucky, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Brooksville is 1.37%, significantly higher than both the Kentucky state median and the U.S. national median of 0.99%. Local government entities within Brooksville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Brooksville 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 Brooksville's effective property tax rate to other areas in Kentucky and the national median. For comparison, the zip code 41004 has both the highest and lowest median property tax rate of 1.37%. Understanding how these areas compare with Brooksville provides valuable insights into the varying tax landscape across Robertson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Brooksville Tax Rate
1.37%
Average Robertson County Tax Rate
1.37%
Average Kentucky Tax Rate
1.02%
Average United States Tax Rate
0.99%
Property Tax Rates Across Brooksville, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 41004 | 0.35% | 0.70% | 1.36% | 1.37% | 1.37% |
Source: Ownwell
Property Tax Assessment Values Across Brooksville, Kentucky
In Brooksville, 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 Robertson 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 Brooksville, 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. For example, the median home price in Brooksville is $77,850, with tax bills ranging from $351 at the 25th percentile to $1,549 at the 75th percentile. The highest and lowest median tax bills are both $789 in the 41004 zip code. 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 Brooksville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Brooksville Assessed Value
$77,850
Average Robertson County Assessed Value
$62,975
Average Kentucky Assessed Value
$110,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Brooksville, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 41004 | $40,068 | $57,144 | $77,850 | $113,446 | $159,108 |
Source: Ownwell
Property Tax Bills Across Brooksville, Kentucky
In Brooksville, located in Robertson County, KY, property tax bills are calculated based on the assessed value of a home. The median home price here is $77,850, which serves as a baseline for determining property taxes. The tax bill is influenced by several factors, including the assessed value of the property and the local tax rate. For instance, the 25th percentile tax bill is $351, while the 75th percentile tax bill reaches $1,549. Homeowners in the 90th percentile face tax bills as high as $1,958. These figures highlight the variability in tax obligations based on property value and specific tax rates applied. Compared to the national median property tax rate of 0.99%, Brooksville’s property taxes can be relatively moderate or steep, depending on the home’s assessed value and other local factors. This variability can significantly impact homeowners, influencing their financial planning and long-term investment in property. The highest and lowest median tax bills in Brooksville are both $789, indicating a consistent tax rate across different properties within the same zip code, 41004.
Average Brooksville Tax Bill
$789
Average Robertson County Tax Bill
$674
Average Kentucky Tax Bill
$1,031
Average United States Tax Bill
$2,690
Property Tax Bills Across Brooksville, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 41004 | $175 | $351 | $789 | $1,549 | $1,958 |
Source: Ownwell