Helton, Kentucky Property Taxes
The median property tax rate in Helton, KY is 1.40%, considerably higher than both the national median of 0.99% and the Kentucky state median of 1.02%. With the median home value in Helton, the typical annual property tax bill reaches $221, which is significantly lower than the national median of $2,690. Property taxes in Helton 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 Helton'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 Helton 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
Helton, Kentucky Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.4%
Estimate Property Tax Bill
$339
Ownwell’s Helton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Helton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Helton 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 Helton, Kentucky
Property taxes in Helton, Kentucky, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Helton is 1.40%, significantly higher than both the Kentucky state median and the U.S. national median of 0.99%. Local government entities within Helton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Helton 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 Helton's effective property tax rate to other areas in Kentucky and the national median. For comparison, the zip code 40840 has both the highest and lowest median property tax rate of 1.40%. Understanding how these areas compare with Helton provides valuable insights into the varying tax landscape across Leslie County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Helton Tax Rate
1.40%
Average Leslie County Tax Rate
1.40%
Average Kentucky Tax Rate
1.02%
Average United States Tax Rate
0.99%
Property Tax Rates Across Helton, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 40840 | 0.29% | 1.16% | 1.40% | 1.40% | 1.40% |
Source: Ownwell
Property Tax Assessment Values Across Helton, Kentucky
In Helton, 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 Leslie 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 Helton, 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 Helton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Helton is $24,250, with tax bills ranging from $74 at the 25th percentile to $806 at the 90th percentile. The zip code with the highest and lowest median tax bill is 40840, both at $221.
Average Helton Assessed Value
$24,250
Average Leslie County Assessed Value
$28,300
Average Kentucky Assessed Value
$110,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Helton, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 40840 | $3,500 | $7,875 | $24,250 | $42,750 | $63,960 |
Source: Ownwell
Property Tax Bills Across Helton, Kentucky
Property tax bills in Helton, Leslie County, KY, are calculated based on the assessed value of a property, which is determined by local assessors. This assessed value is then multiplied by the local property tax rate to determine the annual tax bill. For example, with a median home price of $24,250, homeowners can expect varying tax bills depending on their property's assessed value. Tax bills in Helton range significantly, with the 25th percentile at $74 and the 75th percentile at $528, highlighting the disparity in property values and tax obligations. The 90th percentile tax bill reaches $806, indicating that some properties are valued much higher than others. Interestingly, the highest and lowest median tax bills in the area both stand at $221, suggesting a level of consistency in certain neighborhoods. These property taxes fund essential public services such as schools, roads, and emergency services, directly impacting the community. Homeowners need to be aware of these factors as they can significantly influence their annual financial planning and the overall cost of homeownership.
Average Helton Tax Bill
$221
Average Leslie County Tax Bill
$267
Average Kentucky Tax Bill
$1,031
Average United States Tax Bill
$2,690
Property Tax Bills Across Helton, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 40840 | $35 | $74 | $221 | $528 | $806 |
Source: Ownwell