Wolfe County Property Taxes
The median property tax rate in Wolfe County is 0.95%, which is slightly lower than both the national median of 0.99% and the Kentucky state median of 1.02%. With the median home value in Wolfe County, the typical annual property tax bill is $237, considerably less than the national median of $2,690. Property taxes in Wolfe County are calculated based on the tax assessed value, which often falls below the actual market value due to various property tax exemptions, such as primary residence and agricultural exemptions. Understanding Wolfe County's specific property tax system, exploring available exemptions, and identifying opportunities for property tax reductions can provide significant annual savings. Whether you live in Campton or another part of Wolfe County, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Wolfe County Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.95%
Estimate Property Tax Bill
$190
Ownwell’s Wolfe County Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner to estimate their annual property taxes in Wolfe County with just 2 data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Wolfe County to estimate your property tax bill. This insight helps you understand potential tax liabilities. If you’d like to see trends on a city level, scroll down to navigate to a more local informational page. Your property assessed value is the value assigned to your property by your county for property tax calculations. Assessed value takes into account any exemptions you may have on your property.
Property Tax Rates Across Wolfe County, Kentucky
Property taxes in Wolfe County play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Wolfe County is 0.95%, which is lower than the U.S. national median of 0.99%. Local government entities within Wolfe County set these rates annually, and they can vary significantly between different areas within the county. Each year, Wolfe County estimates its required budget to maintain services for the upcoming fiscal year, and divides this budget by the total value of all taxable property in the jurisdiction, resulting in the property tax rate. Although tax rates and budgets are influenced by laws and voter input, this calculation forms the basic process for setting property tax rates. The following data compares Wolfe County's effective property tax rate with other counties in Kentucky and the national median. For comparison, the city of Pine Ridge has one of the higher property tax rates in Kentucky at 0.95%, while also boasting one of the lowest at 0.95%. Analyzing how Wolfe County's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Wolfe County Tax Rate
0.95%
Average Kentucky Tax Rate
1.02%
Average United States Tax Rate
0.99%
Property Tax Rates Across Wolfe County, Kentucky
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Campton | N/A | N/A | N/A | N/A | N/A |
| Hazel Green | N/A | N/A | N/A | N/A | N/A |
| Pine Ridge | 0.95% | 0.95% | 0.95% | 0.95% | 0.95% |
| Rogers | 0.95% | 0.95% | 0.95% | 0.95% | 0.95% |
Source: Ownwell
Property Tax Assessment Values Across Wolfe County, Kentucky
In Wolfe County, understanding the difference between "market value" and "assessed value" is key to comprehending property taxes. The market value represents the price a willing buyer would pay to a willing seller in an open, competitive market, considering location, property condition, and current economic trends. For tax purposes, this value is estimated by the Wolfe County Appraisal District. The assessed value, however, 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. Assessment notices in Wolfe County are typically mailed in the spring, usually by the middle of April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By distinguishing between these valuation concepts, property owners can better navigate their tax responsibilities and understand how their property taxes are affected. Being aware of these valuation processes in Wolfe County will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively. The city of Rogers has the highest and lowest median tax bill, both at $474, reflecting the uniformity in assessed values within the county.
Average Wolfe County Assessed Value
$20,000
Average Kentucky Assessed Value
$110,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Wolfe County, Kentucky
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Campton | N/A | N/A | N/A | N/A | N/A |
| Hazel Green | N/A | N/A | N/A | N/A | N/A |
| Pine Ridge | $7,650 | $10,000 | $17,500 | $30,000 | $31,900 |
| Rogers | $9,000 | $19,250 | $41,250 | $50,000 | $153,000 |
Source: Ownwell
Property Tax Bills Across Wolfe County, Kentucky
In Wolfe County, KY, property tax bills are determined based on the assessed value of a home, which is a percentage of its market value. The county's median home price is $20,000, and property tax rates are applied to this assessed value to calculate the annual tax bill. Factors such as property location, size, and improvements can influence the assessed value. For example, in the 25th percentile, homeowners might pay around $95 annually, whereas those in the 75th percentile could see tax bills closer to $474. The 90th percentile tax bill can go up to $1,211. Compared to the national median property tax rate of 0.99%, Wolfe County’s property tax rates result in relatively lower tax bills, reflecting the lower median home prices in the area. This can be beneficial for homeowners, offering them more affordable living costs. However, it's important for homeowners to stay informed about their property’s assessed value and any potential changes in tax rates to manage their finances effectively.
Average Wolfe County Tax Bill
$237
Average Kentucky Tax Bill
$1,031
Average United States Tax Bill
$2,690
Property Tax Bills Across Wolfe County, Kentucky
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Campton | N/A | N/A | N/A | N/A | N/A |
| Hazel Green | N/A | N/A | N/A | N/A | N/A |
| Pine Ridge | $53 | $81 | $95 | $259 | $285 |
| Rogers | $389 | $474 | $474 | $1,376 | $1,833 |
Source: Ownwell