Fredonia, Kentucky Property Taxes
The median property tax rate in Fredonia, KY is 0.82%, which is notably lower than both the national median of 0.99% and the Kentucky state median of 1.02%. With a median home value of $60,000 in Fredonia, the typical annual property tax bill amounts to $401, significantly below the national median of $2,690. Property taxes in Fredonia are calculated based on the tax assessed value, which often falls below the market value due to exemptions such as primary residence and agricultural exemptions. Understanding Fredonia'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 Fredonia 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
Fredonia, Kentucky Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.02%
Estimate Property Tax Bill
$2,040
Ownwell’s Fredonia Property Tax Bill Calculator is an invaluable resource for homeowners, real estate investors, and potential buyers looking to estimate their annual property taxes in Fredonia. By simply entering your property's estimated assessed value, the calculator utilizes the median tax rate in Fredonia to provide an accurate estimate of your property tax bill. This powerful tool offers a clear understanding of your potential tax liabilities, allowing you to make informed financial decisions. For those interested in more granular insights, additional localized information is available by scrolling down. Your property’s assessed value, determined by Caldwell County, serves as the basis for these calculations, taking into account any applicable exemptions.
Property Tax Rates Across Fredonia, Kentucky
Property taxes in Fredonia, Kentucky, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Fredonia is 0.82%, lower than both the Kentucky state median and the U.S. national median of 0.99%. Local government entities within Fredonia set these rates annually, and they can vary significantly across different neighborhoods. Each year, Fredonia 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 Fredonia's effective property tax rate to other counties in Kentucky and the national median. For comparison, the 42411 zip code has both the highest and lowest median property tax rate of 0.82%. Understanding how these cities compare with Fredonia provides valuable insights into the varying tax landscape across Caldwell County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Fredonia Tax Rate
0.82%
Average Caldwell County Tax Rate
0.82%
Average Kentucky Tax Rate
1.02%
Average United States Tax Rate
0.99%
Property Tax Rates Across Fredonia, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 42411 | 0.20% | 0.43% | 0.82% | 1.10% | 1.10% |
Source: Ownwell
Property Tax Assessment Values Across Fredonia, Kentucky
In Fredonia, 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 Caldwell 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 Fredonia, 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 Fredonia helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills are both $401, with the zip code 42411.
Average Fredonia Assessed Value
$60,000
Average Caldwell County Assessed Value
$49,350
Average Kentucky Assessed Value
$110,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Fredonia, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 42411 | $7,000 | $29,900 | $60,000 | $114,750 | $208,850 |
Source: Ownwell
Property Tax Bills Across Fredonia, Kentucky
In Fredonia, Caldwell County, KY, property tax bills are calculated based on the assessed value of your home, which is determined by the local tax assessor. The median home price in Fredonia is $60,000, and the property tax rate is applied to this assessed value to determine the annual tax bill. Factors such as property size, location, and any improvements made to the home can influence the assessed value. Homeowners in Fredonia can expect their tax bills to vary significantly. The 25th percentile tax bill is around $128, while those in the 75th percentile see bills closer to $791. For the top 10% of homeowners, tax bills can reach up to $1,250. Comparatively, the national median property tax rate is 0.99%, which highlights the relatively lower property tax burden in Fredonia. This variability in tax bills can impact homeowners' financial planning, making it crucial to understand how local property tax assessments work.
Average Fredonia Tax Bill
$401
Average Caldwell County Tax Bill
$358
Average Kentucky Tax Bill
$1,031
Average United States Tax Bill
$2,690
Property Tax Bills Across Fredonia, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 42411 | $29 | $128 | $401 | $791 | $1,250 |
Source: Ownwell