Bardwell, Kentucky Property Taxes
The median property tax rate in Bardwell, KY is 1.13%, higher than both the national median of 0.99% and the Kentucky state median of 1.02%. With a median home value of $44,000 in Bardwell, the typical annual property tax bill amounts to $412, which is significantly below the national median of $2,690. Property taxes in Bardwell are calculated based on the tax assessed value, often lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Bardwell'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 Bardwell or another part of Carlisle County, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Bardwell, 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 Bardwell Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Bardwell with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Bardwell 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 Bardwell, Kentucky
Property taxes in Bardwell, Kentucky, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Bardwell is 1.13%, higher than both the Kentucky state median and the U.S. national median of 0.99%. Local government entities within Bardwell set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bardwell 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 Bardwell's effective property tax rate to other counties in Kentucky and the national median. For comparison, the zip code 42023 has both the highest and lowest median property tax rate of 1.13%. Understanding how these cities compare with Bardwell provides valuable insights into the varying tax landscape across Carlisle County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bardwell Tax Rate
1.13%
Average Carlisle County Tax Rate
1.13%
Average Kentucky Tax Rate
1.02%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bardwell, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 42023 | 0.43% | 1.13% | 1.13% | 1.19% | 1.27% |
Source: Ownwell
Property Tax Assessment Values Across Bardwell, Kentucky
In Bardwell, 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 Bardwell, 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 Bardwell helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Bardwell is $412 in the 42023 zip code, reflecting the local property values and tax rates.
Average Bardwell Assessed Value
$44,000
Average Carlisle County Assessed Value
$45,000
Average Kentucky Assessed Value
$110,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bardwell, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 42023 | $4,500 | $15,000 | $44,000 | $77,132 | $137,344 |
Source: Ownwell
Property Tax Bills Across Bardwell, Kentucky
In Bardwell, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. This assessed value is then multiplied by the local property tax rate to determine the annual tax bill. For instance, in Carlisle County, homeowners can expect a variety of tax bills depending on their property's assessed value. The median home price in Bardwell is $44,000, and property tax bills range significantly. At the 25th percentile, homeowners might pay around $130, while those at the 75th percentile could see tax bills as high as $838. For the top 10% of properties, the tax bill can reach up to $1,630. Factors such as property size, location, and improvements can influence the assessed value, thereby affecting the tax bill. Compared to the national median property tax rate of 0.99%, Bardwell's property taxes are relatively modest, making it an attractive location for homeowners seeking affordability.
Average Bardwell Tax Bill
$412
Average Carlisle County Tax Bill
$416
Average Kentucky Tax Bill
$1,031
Average United States Tax Bill
$2,690
Property Tax Bills Across Bardwell, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 42023 | $47 | $130 | $412 | $838 | $1,630 |
Source: Ownwell