Catlettsburg, Kentucky Property Taxes
The median property tax rate in Catlettsburg, KY is 1.16%, higher than both the national median of 0.99% and Kentucky's state median of 1.02%. With a median home value of $35,350 in Catlettsburg, the typical annual property tax bill is $352, which is significantly lower than the national median of $2,690. Property taxes in Catlettsburg are calculated based on the tax assessed value, which is often lower than the market value due to exemptions such as primary residence and agricultural exemptions. Understanding Catlettsburg's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Catlettsburg or another part of Lawrence County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Catlettsburg, Kentucky Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.16%
Estimate Property Tax Bill
$410
Ownwell’s Catlettsburg Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Catlettsburg with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Catlettsburg 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 Catlettsburg, Kentucky
Property taxes in Catlettsburg, Kentucky, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Catlettsburg is 1.16%, notably higher than both the Kentucky state median and the U.S. national median of 0.99%. Local government entities within Catlettsburg set these rates annually, and they can vary significantly across different neighborhoods. Each year, Catlettsburg 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 Catlettsburg's effective property tax rate to other counties in Kentucky and the national median. For comparison, the 41129 zip code has the highest median property tax rate of 1.16%, while the 41129 zip code also has the lowest median tax rate of 1.16%. Understanding how these cities compare with Catlettsburg provides valuable insights into the varying tax landscape across Lawrence County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Catlettsburg Tax Rate
1.16%
Average Lawrence County Tax Rate
1.15%
Average Kentucky Tax Rate
1.02%
Average United States Tax Rate
0.99%
Property Tax Rates Across Catlettsburg, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 41129 | 0.51% | 1.13% | 1.16% | 1.24% | 1.45% |
Source: Ownwell
Property Tax Assessment Values Across Catlettsburg, Kentucky
In Catlettsburg, 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 Catlettsburg, 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 Catlettsburg helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Catlettsburg is $35,350, with tax bills ranging from $127 at the 25th percentile to $1,676 at the 90th percentile. The zip code 41129 has both the highest and lowest median tax bill at $352.
Average Catlettsburg Assessed Value
$35,350
Average Lawrence County Assessed Value
$32,500
Average Kentucky Assessed Value
$110,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Catlettsburg, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 41129 | $3,950 | $10,000 | $35,350 | $81,725 | $146,910 |
Source: Ownwell
Property Tax Bills Across Catlettsburg, Kentucky
In Catlettsburg, property tax bills are calculated based on the assessed value of a property, which is determined by the local tax assessor. This assessed value is then multiplied by the local property tax rate to determine the annual tax bill. Various factors, including property size, location, and market conditions, contribute to the assessed value. For homeowners in Catlettsburg, the median home price is $35,350, which translates to a range of property tax bills. The 25th percentile tax bill is $127, while the 75th percentile tax bill reaches $866. At the higher end, the 90th percentile tax bill can be as much as $1,676. Comparatively, the median property tax bill in the area is $352, which is considerably lower than the national median property tax rate of 0.99%. This lower tax rate can provide significant financial relief to homeowners, making property ownership more affordable in Catlettsburg.
Average Catlettsburg Tax Bill
$352
Average Lawrence County Tax Bill
$296
Average Kentucky Tax Bill
$1,031
Average United States Tax Bill
$2,690
Property Tax Bills Across Catlettsburg, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 41129 | $52 | $127 | $352 | $866 | $1,676 |
Source: Ownwell