Sturgis, Kentucky Property Taxes
The median property tax rate in Sturgis, KY is 0.75%, 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 $95,450 in Sturgis, the typical annual property tax bill amounts to $585, significantly below the national median of $2,690. Property taxes in Sturgis are calculated based on the assessed value, which often falls below the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Sturgis'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 Sturgis or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Sturgis, Kentucky Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.75%
Estimate Property Tax Bill
$716
Ownwell’s Sturgis Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Sturgis with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Sturgis 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 Sturgis, Kentucky
Property taxes in Sturgis, Kentucky, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Sturgis is 0.75%, lower than the U.S. national median of 0.99%. Local government entities within Sturgis set these rates annually, and they can vary significantly across different neighborhoods. Each year, Sturgis 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 Sturgis's effective property tax rate to other counties in Kentucky and the national median. For comparison, the zip code 42459 has both the highest and lowest median property tax rate of 0.75%. Understanding how these cities compare with Sturgis provides valuable insights into the varying tax landscape across Crittenden County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Sturgis Tax Rate
0.75%
Average Crittenden County Tax Rate
0.92%
Average Kentucky Tax Rate
1.02%
Average United States Tax Rate
0.99%
Property Tax Rates Across Sturgis, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 42459 | 0.21% | 0.44% | 0.75% | 1.02% | 1.20% |
Source: Ownwell
Property Tax Assessment Values Across Sturgis, Kentucky
In Sturgis, 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 Crittenden 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 Sturgis, 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. For instance, the median home price in Sturgis is $95,450, with tax bills ranging from $281 at the 25th percentile to $1,565 at the 90th percentile. The zip code 42459 has the highest median tax bill at $585. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Sturgis Assessed Value
$95,450
Average Crittenden County Assessed Value
$55,000
Average Kentucky Assessed Value
$110,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Sturgis, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 42459 | $15,920 | $47,188 | $95,450 | $167,630 | $282,180 |
Source: Ownwell
Property Tax Bills Across Sturgis, Kentucky
In Sturgis, KY, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. This assessed value is then multiplied by the local property tax rate to determine the annual tax bill. For homeowners in Sturgis, the median home price is $95,450. The property tax rate in the area results in a median tax bill of $585, which is significantly lower than the national median property tax rate of 0.99%. Several factors influence the tax bill, including the home's location within Crittenden County and any applicable exemptions. For example, the 25th percentile tax bill in Sturgis is $281, while the 75th percentile tax bill is $1,085, showing a range based on property values and exemptions. Higher-value homes can see tax bills up to $1,565 at the 90th percentile. Understanding these factors can help homeowners anticipate their property tax obligations and budget accordingly.
Average Sturgis Tax Bill
$585
Average Crittenden County Tax Bill
$414
Average Kentucky Tax Bill
$1,031
Average United States Tax Bill
$2,690
Property Tax Bills Across Sturgis, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 42459 | $120 | $281 | $585 | $1,085 | $1,565 |
Source: Ownwell