Adairville, Kentucky Property Taxes
The median property tax rate in Adairville, KY is 0.93%, slightly lower than both the national median of 0.99% and the Kentucky state median of 1.02%. With a median home value of $135,000 in Adairville, the typical annual property tax bill is approximately $1,257, which is below the national median of $2,690. Property taxes in Adairville are calculated based on the assessed value, often lower than the market value due to exemptions like those for primary residences and agricultural properties. Understanding Adairville'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 Adairville or another part of Simpson County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Adairville, 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 Adairville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Adairville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Adairville 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 Adairville, Kentucky
Property taxes in Adairville, Kentucky, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Adairville is 0.93%, slightly below the U.S. national median of 0.99%. Local government entities within Adairville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Adairville 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 Adairville's effective property tax rate to other counties in Kentucky and the national median. For comparison, the zip code 42202 has both the highest and lowest median property tax rate of 0.93%. Understanding how these areas compare with Adairville provides valuable insights into the varying tax landscape across Simpson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Adairville Tax Rate
0.93%
Average Simpson County Tax Rate
0.93%
Average Kentucky Tax Rate
1.02%
Average United States Tax Rate
0.99%
Property Tax Rates Across Adairville, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 42202 | 0.72% | 0.83% | 0.93% | 0.93% | 0.93% |
Source: Ownwell
Property Tax Assessment Values Across Adairville, Kentucky
In Adairville, 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 Simpson 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 Adairville, 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 Adairville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 42202, with a median value of $1257.
Average Adairville Assessed Value
$135,000
Average Simpson County Assessed Value
$130,000
Average Kentucky Assessed Value
$110,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Adairville, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 42202 | $33,500 | $80,500 | $135,000 | $201,500 | $270,800 |
Source: Ownwell
Property Tax Bills Across Adairville, Kentucky
In Adairville, property tax bills are calculated based on the assessed value of a home, which is determined by local tax assessors. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. For example, with a median home price of $135,000, homeowners can expect varying tax bills depending on their property's assessed value and specific circumstances. Factors such as property size, location, and improvements can influence the assessed value. In Adairville, homeowners in the 25th percentile pay approximately $749, while those in the 75th percentile face bills around $1,444. At the higher end, the 90th percentile sees tax bills reaching up to $2,262. Comparatively, the national median property tax rate is 0.99%, which provides a benchmark for understanding local tax burdens. For residents, these property taxes fund essential public services like schools, infrastructure, and emergency services, directly impacting community quality and home values. Understanding these factors helps homeowners anticipate their financial obligations and plan accordingly.
Average Adairville Tax Bill
$1,257
Average Simpson County Tax Bill
$1,117
Average Kentucky Tax Bill
$1,031
Average United States Tax Bill
$2,690
Property Tax Bills Across Adairville, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 42202 | $312 | $749 | $1,257 | $1,444 | $2,262 |
Source: Ownwell