Yosemite, Kentucky Property Taxes
The median property tax rate in Yosemite, KY is 0.96%, slightly below the national median of 0.99% and the Kentucky state median of 1.02%. With a median home value of $35,000 in Yosemite, the typical annual property tax bill is around $260, which is significantly lower than the national median of $2,690. Property taxes in Yosemite are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, such as primary residence and agricultural exemptions. Understanding Yosemite'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 Yosemite or another part of Casey County, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Yosemite, 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 Yosemite Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Yosemite with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Yosemite 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 Yosemite, Kentucky
Property taxes in Yosemite, Kentucky, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Yosemite is 0.96%, slightly below the U.S. national median of 0.99%. Local government entities within Yosemite set these rates annually, and they can vary significantly across different neighborhoods. Each year, Yosemite 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 Yosemite's effective property tax rate to other areas in Kentucky and the national median. For comparison, the 42566 zip code has both the highest and lowest median property tax rate of 0.96%. Understanding how these areas compare with Yosemite 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 Yosemite 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 Yosemite, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 42566 | 0.36% | 0.96% | 0.96% | 0.96% | 0.96% |
Source: Ownwell
Property Tax Assessment Values Across Yosemite, Kentucky
In Yosemite, 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 Yosemite, 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 Yosemite helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Yosemite is $260.00 in the 42566 zip code, while the lowest is also $260.00 in the same zip code.
Average Yosemite Assessed Value
$35,000
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 Yosemite, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 42566 | $5,000 | $14,750 | $35,000 | $72,000 | $105,000 |
Source: Ownwell
Property Tax Bills Across Yosemite, Kentucky
In Yosemite, located in Casey County, KY, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor's office. The assessed value is typically a percentage of the market value of the property. For instance, with a median home price of $35,000, the tax rate is applied to this assessed value to determine the annual tax bill. Several factors influence the tax bill, including property size, location, and improvements made to the property. Homeowners in Yosemite can expect their tax bills to vary significantly. For example, the tax bill at the 25th percentile is $96, while at the 75th percentile, it rises to $577, and at the 90th percentile, it reaches $968. These tax rates impact homeowners by affecting their annual financial planning and the overall cost of homeownership. Comparatively, Yosemite's property tax rates are lower than the national median property tax rate of 0.99%, making it a relatively affordable area in terms of property taxes.
Average Yosemite Tax Bill
$260
Average Casey County Tax Bill
$324
Average Kentucky Tax Bill
$1,031
Average United States Tax Bill
$2,690
Property Tax Bills Across Yosemite, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 42566 | $38 | $96 | $260 | $577 | $968 |
Source: Ownwell