Hustonville, Kentucky Property Taxes
The median property tax rate in Hustonville, KY is 0.96%, slightly below both the national median of 0.99% and the Kentucky state median of 1.02%. With the median home value in Hustonville at $45,000, the typical annual property tax bill is $341, which is significantly lower than the national median of $2,690. Property taxes in Hustonville are determined based on the tax assessed value, which is often less than the market value due to various exemptions such as the primary residence and agricultural exemptions. Understanding Hustonville'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 Hustonville or another part of the city, gaining insight into the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Hustonville, 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 HUSTONVILLE Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in HUSTONVILLE with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in HUSTONVILLE 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 Hustonville, Kentucky
Property taxes in Hustonville, Kentucky, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Hustonville is 0.96%, slightly lower than the U.S. national median of 0.99%. Local government entities within Hustonville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hustonville 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 Hustonville's effective property tax rate to other counties in Kentucky and the national median. For comparison, the 40437 zip code has both the highest and the lowest median property tax rate of 0.96%. Understanding how these cities compare with Hustonville provides valuable insights into the varying tax landscape across Casey County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Hustonville Tax Rate
0.96%
Average Casey County Tax Rate
0.96%
Average Kentucky Tax Rate
1.02%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hustonville, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 40437 | 0.47% | 0.96% | 0.96% | 0.96% | 0.96% |
Source: Ownwell
Property Tax Assessment Values Across Hustonville, Kentucky
In Hustonville, 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 Casey 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 Hustonville, 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. The median home price in Hustonville is $45,000, with tax bills ranging from $120 at the 25th percentile to $1,384 at the 90th percentile. The zip code 40437 has the highest median tax bill at $341. Being aware of these valuation processes in Hustonville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Hustonville Assessed Value
$45,000
Average Casey County Assessed Value
$43,000
Average Kentucky Assessed Value
$110,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Hustonville, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 40437 | $5,000 | $19,500 | $45,000 | $96,000 | $151,200 |
Source: Ownwell
Property Tax Bills Across Hustonville, Kentucky
In Hustonville, located in Casey County, KY, property tax bills are calculated based on the assessed value of a home, which reflects its market value. The median home price in Hustonville is $45,000, and property taxes are applied to this assessed value to determine the final tax bill. Homeowners in Hustonville experience a range of tax bills depending on various factors, such as the specific assessment of their property and applicable tax rates. The 25th percentile tax bill is around $120, while the 75th percentile reaches up to $770. At the higher end, the 90th percentile tax bill can be as much as $1,384. Comparatively, the highest and lowest median tax bills in the area both stand at $341, which is relatively low compared to the national median property tax rate of 0.99%. These property tax bills directly affect homeowners by influencing their annual housing costs, making it crucial for residents to understand how their tax liabilities are determined.
Average Hustonville Tax Bill
$341
Average Casey County Tax Bill
$324
Average Kentucky Tax Bill
$1,031
Average United States Tax Bill
$2,690
Property Tax Bills Across Hustonville, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 40437 | $48 | $120 | $341 | $770 | $1,384 |
Source: Ownwell