Hawesville, Kentucky Property Taxes
The median property tax rate in Hawesville, KY is 1.05%, slightly higher than both the national median of 0.99% and the Kentucky state median of 1.02%. With the median home value in Hawesville at $65,000, the typical annual property tax bill is approximately $513, which is significantly lower than the national median of $2,690. Property taxes in Hawesville are calculated based on the tax assessed value, which often falls below the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Hawesville'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 Hawesville 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
Hawesville, Kentucky Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.05%
Estimate Property Tax Bill
$683
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 crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Hawesville is 1.05%, which is 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 1.05%, while the 42348 zip code also has the lowest median tax rate of 1.05%. Understanding how these cities compare with Hawesville provides valuable insights into the varying tax landscape across Hancock County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Hawesville Tax Rate
1.05%
Average Hancock County Tax Rate
1.05%
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 | 0.42% | 0.97% | 1.05% | 1.05% | 1.05% |
Source: Ownwell
Property Tax Assessment Values Across Hawesville, Kentucky
In Hawesville, 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 Hancock County Property Valuation Administrator 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 highest median tax bill in Hawesville is $513 in the 42348 zip code, which is also where the lowest median tax bill is found.
Average Hawesville Assessed Value
$65,000
Average Hancock County Assessed Value
$64,400
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 | $5,500 | $22,300 | $65,000 | $109,600 | $164,447 |
Source: Ownwell
Property Tax Bills Across Hawesville, Kentucky
In Hawesville, property tax bills are calculated based on the assessed value of a property, which is determined by the Hancock County Property Valuation Administrator. The assessed value is a percentage of the property's market value. For instance, with a median home price of $65,000, the tax bill can vary significantly. Homeowners at the 25th percentile might see a tax bill around $161, while those at the 75th percentile could pay approximately $1,050. The tax bill for homes at the 90th percentile can reach up to $1,656. Several factors influence these variations, including property location, size, and any applicable exemptions or deductions. Compared to the national median property tax rate of 0.99%, the rates in Hawesville can be quite variable, reflecting the unique characteristics of each property. Understanding these factors is crucial for homeowners, as property taxes directly impact annual expenses and can affect long-term financial planning. With the highest and lowest median tax bill both at $513 in the 42348 zip code, consistency in some areas can be observed.
Average Hawesville Tax Bill
$513
Average Hancock County Tax Bill
$525
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 | $52 | $161 | $513 | $1,050 | $1,656 |
Source: Ownwell