Kings Mountain, Kentucky Property Taxes
The median property tax rate in Kings Mountain, KY is 0.96%, slightly below the national median of 0.99% and the Kentucky state median of 1.02%. With the median home value in Kings Mountain at $39,750, the typical annual property tax bill is $276, significantly lower than the national median of $2,690. Property taxes in Kings Mountain are calculated based on the tax assessed value, which is often less than the market value due to various exemptions, such as primary residence and agricultural exemptions. Understanding Kings Mountain'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 Kings Mountain or another part of the city, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Kings Mountain, 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 Kings Mountain Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Kings Mountain with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Kings Mountain 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 Kings Mountain, Kentucky
Property taxes in Kings Mountain, Kentucky, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Kings Mountain is 0.96%, slightly below the U.S. national median of 0.99%. Local government entities within Kings Mountain set these rates annually, and they can vary significantly across different neighborhoods. Each year, Kings Mountain 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 Kings Mountain's effective property tax rate to other areas in Kentucky and the national median. For comparison, the 40442 zip code has both the highest and lowest median property tax rate of 0.96%. Understanding how these areas compare with Kings Mountain 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 Kings Mountain 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 Kings Mountain, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 40442 | 0.40% | 0.96% | 0.96% | 0.96% | 0.96% |
Source: Ownwell
Property Tax Assessment Values Across Kings Mountain, Kentucky
In Kings Mountain, 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 Kings Mountain, 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 Kings Mountain helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in the area is $39,750, with the highest and lowest median tax bills both recorded at $276 in the zip code 40442.
Average Kings Mountain Assessed Value
$39,750
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 Kings Mountain, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 40442 | $5,000 | $10,000 | $39,750 | $77,000 | $165,300 |
Source: Ownwell
Property Tax Bills Across Kings Mountain, Kentucky
In Kings Mountain, KY, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The median home price in Kings Mountain is $39,750. Homeowners in this area can expect a range of tax bills, with the 25th percentile at $82 and the 75th percentile at $722. The top 10% of tax bills reach up to $1,521. Several factors influence the tax bill, including the assessed value of the property, local tax rates, and any applicable exemptions or deductions. The highest median tax bill reported in the area is $276, which is relatively low compared to the national median property tax rate of 0.99%. These property taxes fund essential local services such as schools, public safety, and infrastructure. For homeowners in Kings Mountain, understanding these factors can help in budgeting for annual expenses and potentially appealing for a reassessment if they believe their property is overvalued. The relatively low property tax rates can make homeownership more affordable in this region.
Average Kings Mountain Tax Bill
$276
Average Casey County Tax Bill
$324
Average Kentucky Tax Bill
$1,031
Average United States Tax Bill
$2,690
Property Tax Bills Across Kings Mountain, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 40442 | $31 | $82 | $276 | $722 | $1,521 |
Source: Ownwell