Mammoth Cave, Kentucky Property Taxes
The median property tax rate in Mammoth Cave, KY is 0.92%, slightly below both the national median of 0.99% and the Kentucky state median of 1.02%. With the median home value in Mammoth Cave at $75,000, the typical annual property tax bill reaches $616, which is significantly lower than the national median of $2,690. Property taxes in Mammoth Cave are calculated based on the tax assessed value, often lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Mammoth Cave's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Mammoth Cave or another part of Edmonson County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Mammoth Cave, Kentucky Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.92%
Estimate Property Tax Bill
$690
Ownwell’s Mammoth Cave Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Mammoth Cave with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Mammoth Cave 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 Mammoth Cave, Kentucky
Property taxes in Mammoth Cave, Kentucky, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Mammoth Cave is 0.92%, which is lower than the U.S. national median of 0.99%. Local government entities within Mammoth Cave set these rates annually, and they can vary significantly across different neighborhoods. Each year, Mammoth Cave 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 Mammoth Cave's effective property tax rate to other counties in Kentucky and the national median. For comparison, the zip code 42259 has both the highest and lowest median property tax rate of 0.92%. Understanding how these areas compare with Mammoth Cave provides valuable insights into the varying tax landscape across Edmonson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Mammoth Cave Tax Rate
0.92%
Average Edmonson County Tax Rate
0.91%
Average Kentucky Tax Rate
1.02%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mammoth Cave, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 42259 | 0.36% | 0.90% | 0.92% | 0.95% | 1.04% |
Source: Ownwell
Property Tax Assessment Values Across Mammoth Cave, Kentucky
In Mammoth Cave, 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 Edmonson 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 Mammoth Cave, 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 here is $75,000, with tax bills ranging from $280 at the 25th percentile to $2,129 at the 90th percentile. The zip code 42259 has both the highest and lowest median tax bill at $616. 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 valuation processes in Mammoth Cave helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Mammoth Cave Assessed Value
$75,000
Average Edmonson County Assessed Value
$80,500
Average Kentucky Assessed Value
$110,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Mammoth Cave, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 42259 | $18,170 | $38,000 | $75,000 | $150,000 | $243,800 |
Source: Ownwell
Property Tax Bills Across Mammoth Cave, Kentucky
In Mammoth Cave, Edmonson County, KY, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The median home price in Mammoth Cave is $75,000. Homeowners can expect their property tax bill to vary significantly depending on the assessed value and applicable tax rate. The 25th percentile tax bill is around $280, while the 75th percentile tax bill can reach $1,280. For those in the 90th percentile, tax bills can be as high as $2,129. The tax rate in Mammoth Cave is influenced by local government budgets and school district funding needs. This means that homeowners' tax bills can fluctuate based on changes in these budgets. Compared to the national median property tax rate of 0.99%, the rates in Mammoth Cave may lead to relatively modest tax bills for many homeowners, but can still represent a significant expense for those with higher-valued properties. Understanding these factors can help homeowners anticipate and plan for their annual property tax obligations.
Average Mammoth Cave Tax Bill
$616
Average Edmonson County Tax Bill
$643
Average Kentucky Tax Bill
$1,031
Average United States Tax Bill
$2,690
Property Tax Bills Across Mammoth Cave, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 42259 | $119 | $280 | $616 | $1,280 | $2,129 |
Source: Ownwell