De Mossville, Kentucky Property Taxes
The median property tax rate in DE Mossville, KY is 1.27%, considerably higher than both the national median of 0.99% and the Kentucky state median of 1.02%. With the median home value in DE Mossville at $110,000, the typical annual property tax bill reaches $1,266, which is lower than the national median of $2,690. Property taxes in DE Mossville are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding DE Mossville'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 DE Mossville 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
De Mossville, Kentucky Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.27%
Estimate Property Tax Bill
$1,397
Ownwell’s DE MOSSVILLE Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in DE MOSSVILLE with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in DE MOSSVILLE 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 De Mossville, Kentucky
Property taxes in DE MOSSVILLE, Kentucky, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in DE MOSSVILLE is 0.73%, significantly lower than both the Kentucky state median of 0.83% and the U.S. national median of 0.99%. Local government entities within DE MOSSVILLE set these rates annually, and they can vary significantly across different neighborhoods. Each year, DE MOSSVILLE 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 DE MOSSVILLE's effective property tax rate to other counties in Kentucky and the national median. For comparison, the 41033 zip code has the highest median property tax rate of 0.73%, while the same zip code also has the lowest median tax rate of 0.73%. Understanding how these areas compare with DE MOSSVILLE provides valuable insights into the varying tax landscape across 21117, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average De Mossville Tax Rate
1.27%
Average Kenton County Tax Rate
1.07%
Average Kentucky Tax Rate
1.02%
Average United States Tax Rate
0.99%
Property Tax Rates Across De Mossville, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 41033 | 0.60% | 1.27% | 1.27% | 1.27% | 1.27% |
Source: Ownwell
Property Tax Assessment Values Across De Mossville, Kentucky
In De Mossville, 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 Kenton 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 De Mossville, 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 De Mossville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest median tax bill in the area is $1266 in zip code 41033, while the lowest is also $1266 in the same zip code.
Average De Mossville Assessed Value
$110,000
Average Kenton County Assessed Value
$181,500
Average Kentucky Assessed Value
$110,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across De Mossville, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 41033 | $40,000 | $74,000 | $110,000 | $182,800 | $267,000 |
Source: Ownwell
Property Tax Bills Across De Mossville, Kentucky
In DE MOSSVILLE, KY, property tax bills are calculated based on the assessed value of a home, which is determined by local tax assessors. The median home price in the area is approximately $110,000. Homeowners can expect their tax bills to vary significantly, with the 25th percentile paying around $728 and the 75th percentile facing bills up to $2,217. At the 90th percentile, tax bills can reach as high as $3,365. These amounts are influenced by the local tax rate and the assessed value of the property. While the national median property tax rate stands at 0.99%, local rates in DE MOSSVILLE may differ, impacting the overall tax burden on homeowners. Understanding these factors is crucial for homeowners as they budget for annual expenses. The highest and lowest median tax bills in the nearby zip code 41033 are both $1,266, highlighting some consistency in property tax assessments within the region.
Average De Mossville Tax Bill
$1,266
Average Kenton County Tax Bill
$2,000
Average Kentucky Tax Bill
$1,031
Average United States Tax Bill
$2,690
Property Tax Bills Across De Mossville, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 41033 | $362 | $728 | $1,266 | $2,217 | $3,365 |
Source: Ownwell