Webbville, Kentucky Property Taxes
The median property tax rate in Webbville, KY is 1.20%, which is significantly higher than both the national median of 0.99% and the Kentucky state median of 1.02%. With the median home value in Webbville, the typical annual property tax bill reaches $217, which is much lower than the national median of $2,690. Property taxes in Webbville 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 Webbville'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 Webbville 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
Webbville, Kentucky Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.2%
Estimate Property Tax Bill
$264
Ownwell’s Webbville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Webbville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Webbville 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 Webbville, Kentucky
Property taxes in Webbville, Kentucky, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Webbville is 1.20%, significantly higher than the U.S. national median of 0.99%. Local government entities within Webbville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Webbville 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 Webbville's effective property tax rate to other counties in Kentucky and the national median. For comparison, the 41180 zip code has the highest median property tax rate of 1.20%, while the 41180 zip code also has the lowest median tax rate of 1.20%. Understanding how these cities compare with Webbville 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 Webbville Tax Rate
1.20%
Average Lawrence County Tax Rate
1.15%
Average Kentucky Tax Rate
1.02%
Average United States Tax Rate
0.99%
Property Tax Rates Across Webbville, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 41180 | 0.54% | 1.15% | 1.20% | 1.27% | 1.62% |
Source: Ownwell
Property Tax Assessment Values Across Webbville, Kentucky
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Webbville, Kentucky. 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 Lawrence 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 Webbville, 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 Webbville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 41180 in Webbville shows the highest and lowest median tax bill at $217.00, reflecting the diverse range of property values within the area.
Average Webbville Assessed Value
$22,000
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 Webbville, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 41180 | $3,000 | $9,800 | $22,000 | $46,800 | $79,990 |
Source: Ownwell
Property Tax Bills Across Webbville, Kentucky
In Webbville, located in Lawrence County, KY, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by the county assessor and reflects the market value of the property. Homeowners in Webbville can expect a range of property tax bills depending on their property's assessed value. For instance, the tax bill at the 25th percentile is $102, while at the 75th percentile, it rises to $453. At the 90th percentile, homeowners might pay as much as $843. These figures highlight the variation in property tax liabilities across different property values. The median home price in Webbville is $22,000, which significantly influences these tax bills. Compared to the national median property tax rate of 0.99%, Webbville's property tax rates are relatively modest. This lower tax burden can be beneficial for homeowners, making property ownership more affordable. However, it is crucial for homeowners to stay informed about their property's assessed value and any possible exemptions to optimize their tax liabilities.
Average Webbville Tax Bill
$217
Average Lawrence County Tax Bill
$296
Average Kentucky Tax Bill
$1,031
Average United States Tax Bill
$2,690
Property Tax Bills Across Webbville, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 41180 | $43 | $102 | $217 | $453 | $843 |
Source: Ownwell