Stanton, Kentucky Property Taxes
The median property tax rate in Stanton, KY is 1.07%, slightly higher than both the national median of 0.99% and the Kentucky state median of 1.02%. With a median home value in Stanton, the typical annual property tax bill is $86, which is significantly lower than the national median of $2,690. Property taxes in Stanton are calculated based on the tax assessed value, which usually falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Stanton'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 Stanton or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Stanton, Kentucky Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.07%
Estimate Property Tax Bill
$107
Ownwell’s Stanton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Stanton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Stanton 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 Stanton, Kentucky
Property taxes in Stanton, Kentucky, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Stanton is 1.07%, higher than both the Kentucky state median and the U.S. national median of 0.99%. Local government entities within Stanton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Stanton 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 Stanton's effective property tax rate to other counties in Kentucky and the national median. For comparison, the 40380 zip code has the highest median property tax rate of 1.07%, while the same zip code also has the lowest median tax rate of 1.07%. Understanding how these cities compare with Stanton provides valuable insights into the varying tax landscape across Estill County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Stanton Tax Rate
1.07%
Average Estill County Tax Rate
1.07%
Average Kentucky Tax Rate
1.02%
Average United States Tax Rate
0.99%
Property Tax Rates Across Stanton, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 40380 | 0.68% | 1.07% | 1.07% | 1.07% | 1.08% |
Source: Ownwell
Property Tax Assessment Values Across Stanton, Kentucky
In Stanton, 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 Estill 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 Stanton, 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. For instance, the tax bill for properties in the 25th percentile is about $32, while those in the 75th percentile can expect around $655. Being aware of these valuation processes in Stanton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Stanton Assessed Value
$10,000
Average Estill County Assessed Value
$35,000
Average Kentucky Assessed Value
$110,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Stanton, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 40380 | $1,500 | $3,000 | $10,000 | $67,375 | $111,870 |
Source: Ownwell
Property Tax Bills Across Stanton, Kentucky
In Stanton, located in Estill County, KY, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by the local county assessor's office and reflects the market value of the property. Once the assessed value is established, the property tax rate is applied. This rate can vary annually based on local government budgets and needs. For homeowners in Stanton, property taxes can significantly impact their finances. The median home price in the area is $10,000, and property tax bills can range widely. At the 25th percentile, homeowners might see a tax bill of around $32, whereas those at the 75th percentile could face a bill of about $655. For the top 10% of property values, tax bills can reach up to $956. Compared to the national median property tax rate of 0.99%, Stanton's property tax rates can be relatively low, making it an attractive location for homeowners seeking affordability. However, the variability in tax bills underscores the importance of understanding local property assessments and budgeting accordingly.
Average Stanton Tax Bill
$86
Average Estill County Tax Bill
$279
Average Kentucky Tax Bill
$1,031
Average United States Tax Bill
$2,690
Property Tax Bills Across Stanton, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 40380 | $16 | $32 | $86 | $655 | $956 |
Source: Ownwell