Bethlehem, Kentucky Property Taxes
The median property tax rate in Bethlehem, KY is 1.17%, noticeably higher than both the national median of 0.99% and the Kentucky state median of 1.02%. With a median home value of $107,100 in Bethlehem, the typical annual property tax bill amounts to $1,007, which is below the national median of $2,690. Property taxes in Bethlehem 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 Bethlehem'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 Bethlehem or another part of Henry County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Bethlehem, Kentucky Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.17%
Estimate Property Tax Bill
$1,253
Ownwell’s Bethlehem Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Bethlehem with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Bethlehem to provide an estimated property tax bill. This useful tool helps you understand potential tax liabilities. For those interested in more detailed trends, you can explore neighborhood-level data further down the page. Your property’s assessed value is the value assigned by the county for property tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Bethlehem, Kentucky
Property taxes in Bethlehem, Kentucky, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Bethlehem is 1.17%, significantly higher than the U.S. national median of 0.99%. Local government entities within Bethlehem set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bethlehem 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 Bethlehem's effective property tax rate to other areas in Kentucky and the national median. For comparison, the zip code 40007 has both the highest and the lowest median property tax rate of 1.17%. Understanding how these cities compare with Bethlehem provides valuable insights into the varying tax landscape across Henry County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bethlehem Tax Rate
1.17%
Average Henry County Tax Rate
1.15%
Average Kentucky Tax Rate
1.02%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bethlehem, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 40007 | 0.73% | 0.84% | 1.17% | 1.21% | 1.32% |
Source: Ownwell
Property Tax Assessment Values Across Bethlehem, Kentucky
In Bethlehem, 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 local 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 Bethlehem, 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 Bethlehem helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill in Bethlehem is 40007, with a median tax bill of $1007.
Average Bethlehem Assessed Value
$107,100
Average Henry County Assessed Value
$127,000
Average Kentucky Assessed Value
$110,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bethlehem, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 40007 | $15,850 | $42,800 | $107,100 | $148,350 | $222,230 |
Source: Ownwell
Property Tax Bills Across Bethlehem, Kentucky
In Bethlehem, KY, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The assessed value is then multiplied by the local property tax rate to determine the annual tax bill. For instance, the median home price in Bethlehem is $107,100, and the tax bills can vary widely. At the 25th percentile, homeowners might pay around $422 annually, while those at the 75th percentile could see bills as high as $1,471. For the top 10% of property values, tax bills can reach up to $2,345. These figures highlight the significant variation in tax obligations depending on property values and assessed rates. Comparatively, the national median property tax rate is 0.99%, so homeowners in Bethlehem may find their tax bills to be relatively moderate. Understanding these factors is crucial for homeowners as it directly impacts their annual financial planning and long-term investment in their property.
Average Bethlehem Tax Bill
$1,007
Average Henry County Tax Bill
$1,329
Average Kentucky Tax Bill
$1,031
Average United States Tax Bill
$2,690
Property Tax Bills Across Bethlehem, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 40007 | $181 | $422 | $1,007 | $1,471 | $2,345 |
Source: Ownwell