Pembroke, Kentucky Property Taxes
The median property tax rate in Pembroke, KY is 0.82%, which is lower than both the national median of 0.99% and the Kentucky state median of 1.02%. With a median home value of $135,000 in Pembroke, the typical annual property tax bill is $994, significantly below the national median of $2,690. Property taxes in Pembroke are calculated based on the assessed value, which is often lower than the market value due to exemptions such as those for primary residences and agricultural land. Gaining a solid understanding of Pembroke's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you reside in Pembroke or another part of Christian County, being well-informed about the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Pembroke, 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 Pembroke Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Pembroke with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Pembroke 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 Pembroke, Kentucky
Property taxes in Pembroke, Kentucky, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Pembroke is 0.82%, which is lower than the U.S. national median of 0.99%. Local government entities within Pembroke set these rates annually, and they can vary significantly across different neighborhoods. Each year, Pembroke 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 Pembroke's effective property tax rate to other areas in Kentucky and the national median. For comparison, the ZIP code 42266 has the highest median property tax rate of 0.82%, while the same ZIP code also has the lowest median tax rate of 0.82%. Understanding how these areas compare with Pembroke provides valuable insights into the varying tax landscape across Christian County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Pembroke Tax Rate
0.82%
Average Christian County Tax Rate
0.78%
Average Kentucky Tax Rate
1.02%
Average United States Tax Rate
0.99%
Property Tax Rates Across Pembroke, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 42266 | 0.55% | 0.72% | 0.82% | 0.89% | 1.09% |
Source: Ownwell
Property Tax Assessment Values Across Pembroke, Kentucky
In Pembroke, 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 Christian 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 Pembroke, 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. The median home price in Pembroke is $135,000, with tax bills ranging from $477 at the 25th percentile to $2,431 at the 90th percentile. The highest and lowest median tax bills in the area are both $994, found in the 42266 zip code. 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 Pembroke helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Pembroke Assessed Value
$135,000
Average Christian County Assessed Value
$110,000
Average Kentucky Assessed Value
$110,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Pembroke, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 42266 | $25,000 | $60,000 | $135,000 | $225,000 | $308,015 |
Source: Ownwell
Property Tax Bills Across Pembroke, Kentucky
In Pembroke, KY, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. The median home price in Pembroke is $135,000, and tax bills can vary significantly within the city. Factors such as the property's location, improvements, and market conditions influence the assessed value. Homeowners in the 25th percentile can expect to pay around $477 annually, while those in the 75th percentile may see bills as high as $1,732. At the 90th percentile, tax bills can reach up to $2,431. These tax rates directly impact homeowners, as they are required to budget for these annual expenses. Compared to the national median property tax rate of 0.99%, Pembroke's rates offer a diverse range of financial obligations for its residents. The highest and lowest median tax bills in the city are both $994, specifically in the 42266 zip code, indicating some consistency in tax assessments within that area.
Average Pembroke Tax Bill
$994
Average Christian County Tax Bill
$788
Average Kentucky Tax Bill
$1,031
Average United States Tax Bill
$2,690
Property Tax Bills Across Pembroke, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 42266 | $178 | $477 | $994 | $1,732 | $2,431 |
Source: Ownwell