Carlisle, Kentucky Property Taxes
The median property tax rate in Carlisle, KY is 0.67%, significantly lower than both the national median of 0.99% and the Kentucky state median of 1.02%. With a median home value of $115,300 in Carlisle, the typical annual property tax bill is $774, which is well below the national median of $2,690. Property taxes in Carlisle are based on the tax assessed value, which usually falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Carlisle's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Carlisle or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Carlisle, Kentucky Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.67%
Estimate Property Tax Bill
$773
Ownwell’s Carlisle Property Tax Bill Calculator allows homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Carlisle with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Carlisle 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 Carlisle, Kentucky
Property taxes in Carlisle, Kentucky, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Carlisle is 0.67%, lower than both the Kentucky state median and the U.S. national median of 0.99%. Local government entities within Carlisle set these rates annually, and they can vary significantly across different neighborhoods. Each year, Carlisle 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 Carlisle's effective property tax rate to other counties in Kentucky and the national median. For comparison, the 40311 zip code has both the highest and lowest median property tax rate of 0.67%. Understanding how these cities compare with Carlisle provides valuable insights into the varying tax landscape across Bourbon County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Carlisle Tax Rate
0.67%
Average Bourbon County Tax Rate
0.57%
Average Kentucky Tax Rate
1.02%
Average United States Tax Rate
0.99%
Property Tax Rates Across Carlisle, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 40311 | 0.22% | 0.38% | 0.67% | 0.88% | 0.88% |
Source: Ownwell
Property Tax Assessment Values Across Carlisle, Kentucky
In Carlisle, 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 Carlisle, 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 Carlisle helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Carlisle are both $774, corresponding to the zip code 40311.
Average Carlisle Assessed Value
$115,300
Average Bourbon County Assessed Value
$151,200
Average Kentucky Assessed Value
$110,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Carlisle, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 40311 | $33,040 | $50,500 | $115,300 | $238,300 | $408,440 |
Source: Ownwell
Property Tax Bills Across Carlisle, Kentucky
Property tax bills in Carlisle, located in Bourbon County, KY, are determined by the assessed value of a property and the local tax rate. The assessed value is typically a percentage of the property's market value, which in Carlisle is influenced by factors such as property size, location, and condition. Homeowners in Carlisle can expect varying tax bills depending on their property's assessed value. For instance, the 25th percentile tax bill in the area is $313, while the 75th percentile tax bill is $1,271, and the 90th percentile tax bill reaches up to $2,080. These figures reflect the range of property values and the corresponding tax obligations within the city. Compared to the national median property tax rate of 0.99%, Carlisle's property tax rates can significantly impact homeowners, especially those with higher-valued properties. Understanding these factors helps homeowners anticipate their annual tax liabilities and budget accordingly.
Average Carlisle Tax Bill
$774
Average Bourbon County Tax Bill
$936
Average Kentucky Tax Bill
$1,031
Average United States Tax Bill
$2,690
Property Tax Bills Across Carlisle, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 40311 | $113 | $313 | $774 | $1,271 | $2,080 |
Source: Ownwell