Allensville, Kentucky Property Taxes
The median property tax rate in Allensville, KY is 0.84%, which is lower than both the national median of 0.99% and the Kentucky state median of 1.02%. With the median home value in Allensville at $101,694, the typical annual property tax bill comes to $597, significantly below the national median of $2,690. Property taxes in Allensville are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Allensville'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 Allensville 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
Allensville, Kentucky Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.84%
Estimate Property Tax Bill
$854
Ownwell’s Allensville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Allensville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Allensville 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 Todd County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Allensville, Kentucky
Property taxes in Allensville, Kentucky, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Allensville is 0.84%, which is lower than both the Kentucky state median and the U.S. national median of 0.99%. Local government entities within Allensville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Allensville 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 Allensville's effective property tax rate to other counties in Kentucky and the national median. For comparison, the 42204 zip code has the highest median property tax rate of 0.84%, while the same zip code also has the lowest median tax rate of 0.84%. Understanding how these cities compare with Allensville provides valuable insights into the varying tax landscape across Todd County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Allensville Tax Rate
0.84%
Average Todd County Tax Rate
0.84%
Average Kentucky Tax Rate
1.02%
Average United States Tax Rate
0.99%
Property Tax Rates Across Allensville, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 42204 | 0.13% | 0.37% | 0.84% | 0.84% | 0.84% |
Source: Ownwell
Property Tax Assessment Values Across Allensville, Kentucky
Understanding the difference between "market value" and "assessed value" is essential for comprehending property taxes in Allensville, 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 Todd 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 Allensville, 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 Allensville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Allensville is $101,694, with the highest and lowest median tax bills both recorded at $597 in zip code 42204.
Average Allensville Assessed Value
$101,694
Average Todd County Assessed Value
$84,400
Average Kentucky Assessed Value
$110,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Allensville, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 42204 | $18,120 | $45,000 | $101,694 | $193,748 | $690,627 |
Source: Ownwell
Property Tax Bills Across Allensville, Kentucky
In Allensville, KY, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The median home price in Allensville is $101,694. Tax rates are applied to this assessed value to determine the tax bill. Homeowners in Allensville can expect their tax bills to vary significantly, with the 25th percentile paying around $248 annually, while those in the 75th percentile pay approximately $1,144. At the higher end, the 90th percentile sees tax bills reaching up to $1,635. Factors such as property size, location, and improvements can influence the assessed value, and consequently, the tax bill. Compared to the national median property tax rate of 0.99%, Allensville homeowners might find their tax rates relatively manageable. The highest median tax bill in the area is $597, which is consistent across the zip code 42204, indicating a relatively stable tax environment. Understanding these factors helps homeowners anticipate and plan for their annual property tax expenses.
Average Allensville Tax Bill
$597
Average Todd County Tax Bill
$511
Average Kentucky Tax Bill
$1,031
Average United States Tax Bill
$2,690
Property Tax Bills Across Allensville, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 42204 | $54 | $248 | $597 | $1,144 | $1,635 |
Source: Ownwell