Hawesville, Kentucky Property Taxes
The median property tax rate in Hawesville, KY is 1.04%, slightly higher than both the national median of 0.99% and the Kentucky state median of 1.02%. With a median home value of $68,900 in Hawesville, the typical annual property tax bill amounts to $607, which is below the national median of $2,690. Property taxes in Hawesville are determined based on the assessed value, which is often lower than the market value due to exemptions like primary residence and agricultural exemptions. Understanding Hawesville's property tax system, exploring available exemptions, and finding opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Hawesville 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
Hawesville, Kentucky Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.04%
Estimate Property Tax Bill
$717
Ownwell’s Hawesville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Hawesville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Hawesville 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 Hawesville, Kentucky
Property taxes in Hawesville, Kentucky, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Hawesville is 1.04%, higher than both the Kentucky state median and the U.S. national median of 0.99%. Local government entities within Hawesville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hawesville 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 Hawesville's effective property tax rate to other counties in Kentucky and the national median. For comparison, the 42348 zip code has the highest median property tax rate of 1.04%, while the 42348 zip code also has the lowest median tax rate of 1.04%. Understanding how these cities compare with Hawesville provides valuable insights into the varying tax landscape across Daviess County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Hawesville Tax Rate
1.04%
Average Daviess County Tax Rate
0.81%
Average Kentucky Tax Rate
1.02%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hawesville, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 42348 | 0.60% | 1.04% | 1.04% | 1.08% | 1.10% |
Source: Ownwell
Property Tax Assessment Values Across Hawesville, Kentucky
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Hawesville, Kentucky. 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 Hancock 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 Hawesville, 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 Hawesville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 42348 has the highest median tax bill in the area, amounting to $607.
Average Hawesville Assessed Value
$68,900
Average Daviess County Assessed Value
$110,800
Average Kentucky Assessed Value
$110,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Hawesville, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 42348 | $20,000 | $32,500 | $68,900 | $120,000 | $176,880 |
Source: Ownwell
Property Tax Bills Across Hawesville, Kentucky
In Hawesville, located in Daviess County, KY, property tax bills are calculated based on the assessed value of the property and the local tax rate. The assessed value is determined by the county assessor and represents a percentage of the property's market value. This assessed value is then multiplied by the local property tax rate to calculate the annual tax bill. Several factors influence the assessed value, including the property's location, size, and condition. Additionally, any improvements or changes to the property can affect its assessed value. For homeowners in Hawesville, the property tax bill can vary significantly. The median home price in the area is $68,900, and tax bills range from the 25th percentile at $312 to the 90th percentile at $1505. Comparatively, the national median property tax rate is 0.99%, and Hawesville's tax bills reflect a range of financial impacts on homeowners. Understanding these factors can help homeowners better anticipate their property tax obligations and plan accordingly.
Average Hawesville Tax Bill
$607
Average Daviess County Tax Bill
$710
Average Kentucky Tax Bill
$1,031
Average United States Tax Bill
$2,690
Property Tax Bills Across Hawesville, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 42348 | $208 | $312 | $607 | $1,091 | $1,505 |
Source: Ownwell