Vine Grove, Kentucky Property Taxes
The median property tax rate in Vine Grove, KY is 0.93%, slightly lower than both the national median of 0.99% and the Kentucky state median of 1.02%. With the median home value in Vine Grove, the typical annual property tax bill reaches $163, significantly lower than the national median of $2,690. Property taxes in Vine Grove are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Vine Grove'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 Vine Grove 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
Vine Grove, Kentucky Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.02%
Estimate Property Tax Bill
$2,040
Ownwell’s Vine Grove Property Tax Bill Calculator is a valuable resource for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Vine Grove with just two data points. By inputting your property's estimated assessed value, the calculator uses the median tax rate in Vine Grove to provide an estimate of your property tax bill. This tool offers a clear picture of potential tax liabilities, making it easier to plan and budget. For those interested in more detailed trends at the neighborhood level, additional localized information is available below. Your property’s assessed value is determined by the county for tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Vine Grove, Kentucky
Property taxes in Vine Grove, Kentucky, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Vine Grove is 0.93%, which is slightly lower than the U.S. national median of 0.99%. Local government entities within Vine Grove set these rates annually, and they can vary significantly across different neighborhoods. Each year, Vine Grove 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 Vine Grove's effective property tax rate to other counties in Kentucky and the national median. For comparison, the zip code 40175 has both the highest and lowest median property tax rate of 0.93%. Understanding how these cities compare with Vine Grove provides valuable insights into the varying tax landscape across Hardin County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Vine Grove Tax Rate
0.93%
Average Hardin County Tax Rate
0.93%
Average Kentucky Tax Rate
1.02%
Average United States Tax Rate
0.99%
Property Tax Rates Across Vine Grove, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 40175 | 0.14% | 0.53% | 0.93% | 0.93% | 1.05% |
Source: Ownwell
Property Tax Assessment Values Across Vine Grove, Kentucky
In Vine Grove, 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 Hardin 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 Vine Grove, 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 Vine Grove helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area both stand at $163, found in the zip code 40175.
Average Vine Grove Assessed Value
$21,350
Average Hardin County Assessed Value
$21,400
Average Kentucky Assessed Value
$110,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Vine Grove, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 40175 | $9,090 | $11,400 | $21,350 | $69,900 | $109,400 |
Source: Ownwell
Property Tax Bills Across Vine Grove, Kentucky
In Vine Grove, located in Hardin County, KY, property tax bills are calculated based on the assessed value of a property, which is determined by the county assessor. This assessed value is then multiplied by the local property tax rate to calculate the annual tax bill. For context, the national median property tax rate is 0.99%, but local rates can vary. Several factors influence the assessed value, including the property's market value, location, and any improvements or modifications made to the home. Homeowners in Vine Grove can expect their tax bills to fall within a range, with the 25th percentile at $93 and the 75th percentile at $424. At the 90th percentile, tax bills can reach up to $811. The median home price in Vine Grove is $21,350, which significantly impacts the tax calculations. Homeowners should be aware that these taxes fund essential local services such as schools, infrastructure, and emergency services, directly affecting the quality of life in their community.
Average Vine Grove Tax Bill
$163
Average Hardin County Tax Bill
$132
Average Kentucky Tax Bill
$1,031
Average United States Tax Bill
$2,690
Property Tax Bills Across Vine Grove, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 40175 | $27 | $93 | $163 | $424 | $811 |
Source: Ownwell