Harned, Kentucky Property Taxes
The median property tax rate in Harned, KY is 0.96%, slightly below both the national median of 0.99% and the Kentucky state median of 1.02%. With a median home value of $82,000 in Harned, the typical annual property tax bill comes to $638, which is significantly lower than the national median of $2,690. Property taxes in Harned are calculated based on the assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Harned'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 Harned or another part of Breckinridge County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Harned, Kentucky Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.96%
Estimate Property Tax Bill
$787
Ownwell’s Harned Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Harned with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Harned 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 Harned, Kentucky
Property taxes in Harned, Kentucky, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Harned is 0.96%, slightly below the U.S. national median of 0.99%. Local government entities within Harned set these rates annually, and they can vary significantly across different neighborhoods. Each year, Harned 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 Harned's effective property tax rate to other areas in Breckinridge County and the national median. For comparison, the 40144 zip code has both the highest and lowest median property tax rate in the county at 0.96%. Understanding how these areas compare with Harned provides valuable insights into the varying tax landscape across Breckinridge County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Harned Tax Rate
0.96%
Average Breckinridge County Tax Rate
0.96%
Average Kentucky Tax Rate
1.02%
Average United States Tax Rate
0.99%
Property Tax Rates Across Harned, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 40144 | 0.28% | 0.58% | 0.96% | 1.06% | 1.59% |
Source: Ownwell
Property Tax Assessment Values Across Harned, Kentucky
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Harned, 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 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 Harned, 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. For example, the median home price in Harned is $82,000, with tax bills ranging from $244 at the 25th percentile to $1,809 at the 90th percentile. The highest and lowest median tax bills are both found in the 40144 zip code, at $638. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to manage their tax burden effectively.
Average Harned Assessed Value
$82,000
Average Breckinridge County Assessed Value
$64,000
Average Kentucky Assessed Value
$110,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Harned, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 40144 | $6,000 | $28,000 | $82,000 | $160,000 | $273,600 |
Source: Ownwell
Property Tax Bills Across Harned, Kentucky
In Harned, located in Breckinridge County, KY, property tax bills are calculated based on the assessed value of a home. The local tax rate is applied to this assessed value to determine the annual tax bill. Factors influencing the tax bill include the property's assessed value, which is determined by the county assessor, and the local tax rate set by municipal authorities. For homeowners in Harned, the median home price is $82,000. Tax bills can vary significantly, with the 25th percentile at $244 and the 75th percentile at $1,150. The 90th percentile tax bill reaches up to $1,809. The highest median tax bill in the area is $638, which is consistent across the zip code 40144. Compared to the national median property tax rate of 0.99%, Harned's property tax rates can represent a substantial financial consideration for homeowners. Understanding these factors can help residents anticipate their annual property tax obligations and manage their household budgets more effectively.
Average Harned Tax Bill
$638
Average Breckinridge County Tax Bill
$536
Average Kentucky Tax Bill
$1,031
Average United States Tax Bill
$2,690
Property Tax Bills Across Harned, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 40144 | $94 | $244 | $638 | $1,150 | $1,809 |
Source: Ownwell