Hudson, Kentucky Property Taxes
The median property tax rate in Hudson, KY is 1.00%, slightly higher than the national median of 0.99% but lower than the Kentucky state median of 1.02%. With the median home value in Hudson at $50,000, the typical annual property tax bill is $410, significantly below the national median of $2,690. Property taxes in Hudson are calculated based on the tax assessed value, which generally falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Hudson'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 Hudson 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
Hudson, Kentucky Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1%
Estimate Property Tax Bill
$500
Ownwell’s Hudson Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Hudson with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Hudson 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 Hudson, Kentucky
Property taxes in Hudson, Kentucky, are essential for funding crucial local services, including public schools, road maintenance, and emergency services. The median tax rate in Hudson stands at 1.00%, slightly higher than the U.S. national median of 0.99%. Local government entities in Hudson determine these rates annually, and they can vary significantly across different neighborhoods. Each year, Hudson estimates its required budget to maintain services for the upcoming fiscal year. This budget is then divided 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 for setting property tax rates. The data below compares Hudson's effective property tax rate to other areas in Breckinridge County and the national median. For comparison, the zip code 40145 has both the highest and lowest median property tax rate in the county at 1.00%. Understanding how these areas compare with Hudson 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 Hudson Tax Rate
1.00%
Average Breckinridge County Tax Rate
0.96%
Average Kentucky Tax Rate
1.02%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hudson, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 40145 | 0.38% | 0.64% | 1.00% | 1.25% | 1.76% |
Source: Ownwell
Property Tax Assessment Values Across Hudson, Kentucky
In Hudson, 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 Breckinridge 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 Hudson, 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 Hudson helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill is 40145, both at $410.
Average Hudson Assessed Value
$50,000
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 Hudson, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 40145 | $5,000 | $14,000 | $50,000 | $120,000 | $207,320 |
Source: Ownwell
Property Tax Bills Across Hudson, Kentucky
In Hudson, located in Breckinridge County, KY, property tax bills are calculated based on the assessed value of your home. The assessed value is determined by local tax assessors who evaluate your property's market value. This assessed value is then multiplied by the local tax rate to determine your annual property tax bill. For example, with a median home price of $50,000, homeowners can expect tax bills ranging from $160 at the 25th percentile to $880 at the 75th percentile, and up to $1,425 at the 90th percentile. The median property tax rate in Hudson is competitive when compared to the national median property tax rate of 0.99%. High and low tax bills in Hudson are both recorded at $410 in the zip code 40145, indicating a relatively stable tax environment. These property taxes fund essential community services such as public schools, infrastructure, and emergency services, directly impacting the quality of life for Hudson residents. Understanding these factors helps homeowners anticipate their financial obligations and plan accordingly.
Average Hudson Tax Bill
$410
Average Breckinridge County Tax Bill
$536
Average Kentucky Tax Bill
$1,031
Average United States Tax Bill
$2,690
Property Tax Bills Across Hudson, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 40145 | $86 | $160 | $410 | $880 | $1,425 |
Source: Ownwell