Crittenden, Kentucky Property Taxes
The median property tax rate in Crittenden, KY is 1.62%, significantly higher than both the national median of 0.99% and the Kentucky state median of 1.02%. With the median home value in Crittenden at $248,900, the typical annual property tax bill reaches $4,005, far exceeding the national median of $2,690. Property taxes in Crittenden 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 Crittenden'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 Crittenden 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
Crittenden, Kentucky Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.62%
Estimate Property Tax Bill
$4,032
Ownwell’s Crittenden Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Crittenden with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Crittenden 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 Crittenden, Kentucky
Property taxes in Crittenden, Kentucky, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Crittenden is 0.82%, which is lower than both the Kentucky state median of 0.83% and the U.S. national median of 0.99%. Local government entities within Crittenden set these rates annually, and they can vary significantly across different neighborhoods. Each year, Crittenden 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 Crittenden's effective property tax rate to other counties in Kentucky and the national median. For comparison, the zip code 41030 has the highest median property tax rate of 0.82%, while the same zip code also has the lowest median tax rate of 0.82%. Understanding how these areas compare with Crittenden provides valuable insights into the varying tax landscape across Boone County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Crittenden Tax Rate
1.62%
Average Boone County Tax Rate
1.12%
Average Kentucky Tax Rate
1.02%
Average United States Tax Rate
0.99%
Property Tax Rates Across Crittenden, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 41030 | 1.28% | 1.61% | 1.62% | 1.64% | 1.67% |
Source: Ownwell
Property Tax Assessment Values Across Crittenden, Kentucky
In Crittenden, 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 Crittenden, 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 Crittenden helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $4,005 in the 41030 zip code, while the lowest median tax bill is also $4,005 in the same zip code.
Average Crittenden Assessed Value
$248,900
Average Boone County Assessed Value
$200,000
Average Kentucky Assessed Value
$110,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Crittenden, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 41030 | $25,760 | $106,400 | $248,900 | $412,000 | $516,800 |
Source: Ownwell
Property Tax Bills Across Crittenden, Kentucky
In Crittenden, KY, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The assessed value is then multiplied by the property tax rate set by local authorities. For homeowners in Crittenden, the tax bill can vary significantly. The 25th percentile tax bill is $1,322, while the 75th percentile reaches $6,406, and the 90th percentile can go up to $8,370. These figures show a wide range in tax bills, influenced by factors such as the home's assessed value and applicable exemptions. Compared to the national median property tax rate of 0.99%, homeowners in Crittenden face varying financial impacts. For instance, a home with a median price of $248,900 would have a different tax bill based on its assessed value and the local tax rate. This variability in tax bills highlights the importance of understanding local tax assessments and rates for homeowners.
Average Crittenden Tax Bill
$4,005
Average Boone County Tax Bill
$2,154
Average Kentucky Tax Bill
$1,031
Average United States Tax Bill
$2,690
Property Tax Bills Across Crittenden, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 41030 | $250 | $1,322 | $4,005 | $6,406 | $8,370 |
Source: Ownwell