Bowling Green, Kentucky Property Taxes
The median property tax rate in Bowling Green, KY is 0.93%, slightly below both the national median of 0.99% and Kentucky's state median of 1.02%. With a median home value of $110,547, the typical annual property tax bill in Bowling Green is $947, which is less than the national median of $2,690. Property taxes here are calculated based on the tax assessed value, often lower than the market value due to exemptions like those for primary residences and agricultural properties. By understanding Bowling Green's property tax system, exploring available exemptions, and identifying opportunities for reductions, homeowners and real estate investors can achieve significant annual savings. Whether you're in central Bowling Green or another part of the city, having a grasp of the local property tax nuances will be beneficial.
Last Updated June 14, 2024
Bowling Green, Kentucky Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.93%
Estimate Property Tax Bill
$1,028
Ownwell’s Bowling Green Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Bowling Green with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Bowling Green 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 Bowling Green, Kentucky
Property taxes in Bowling Green, Kentucky, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Bowling Green is 0.93%, which is slightly lower than the U.S. national median of 0.99%. Local government entities within Bowling Green set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bowling Green 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 Bowling Green's effective property tax rate to other counties in Kentucky and the national median. For comparison, the 42104 zip code has the highest median property tax rate of 0.93%, while the lowest median tax rate is also 0.93%. Understanding how these areas compare with Bowling Green 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 Bowling Green 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 Bowling Green, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 42104 | 0.64% | 0.76% | 0.93% | 0.97% | 1.01% |
Source: Ownwell
Property Tax Assessment Values Across Bowling Green, Kentucky
In Bowling Green, 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 local 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 Bowling Green, 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 Bowling Green 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 42104, with an amount of $947.
Property Tax Assessment Values Across Bowling Green, Kentucky
Source: Ownwell
$110,547
$155,274
$200,000
Average Bowling Green Assessed Value
$110,547
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 Bowling Green, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 42104 | $27,000 | $60,500 | $110,547 | $162,250 | $224,000 |
Source: Ownwell
Property Tax Bills Across Bowling Green, Kentucky
In Bowling Green, 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 property tax rate to determine the annual tax bill. For instance, with a median home price of $110,547, homeowners in this area can expect varying tax bills. The 25th percentile tax bill is around $506, while those in the 75th percentile might pay up to $1,372. At the higher end, the 90th percentile tax bill reaches approximately $1,749. Several factors influence these tax bills, including the home's location within the county, its assessed value, and any applicable exemptions. Homeowners in the 42104 zip code experience a median tax bill of $947, which is consistent across the highest and lowest median tax bill ranges. These property taxes fund essential local services, such as schools, police, and infrastructure, directly impacting the quality of life and community resources available to residents.
Average Bowling Green Tax Bill
$947
Average Simpson County Tax Bill
$1,117
Average Kentucky Tax Bill
$1,031
Average United States Tax Bill
$2,690
Property Tax Bills Across Bowling Green, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 42104 | $236 | $506 | $947 | $1,372 | $1,749 |
Source: Ownwell