Mozelle, Kentucky Property Taxes
The median property tax rate in Mozelle, 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 Mozelle, the typical annual property tax bill reaches $192, which is significantly lower than the national median of $2,690. Property taxes in Mozelle are calculated based on the tax assessed value, often below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Mozelle'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 Mozelle 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
Mozelle, Kentucky Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.4%
Estimate Property Tax Bill
$322
Ownwell’s Mozelle Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Mozelle with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Mozelle 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 Mozelle, Kentucky
Property taxes in Mozelle, Kentucky, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Mozelle is 1.40%, significantly higher than both the Kentucky state median and the U.S. national median of 0.99%. Local government entities within Mozelle set these rates annually, and they can vary significantly across different neighborhoods. Each year, Mozelle 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 Mozelle's effective property tax rate to other counties in Kentucky and the national median. For comparison, the 40858 zip code has the highest median property tax rate of 1.40%, while the same zip code also has the lowest median tax rate of 1.40%. Understanding how these areas compare with Mozelle 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 Mozelle 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 Mozelle, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 40858 | 0.18% | 1.23% | 1.40% | 1.40% | 1.40% |
Source: Ownwell
Property Tax Assessment Values Across Mozelle, Kentucky
In Mozelle, 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 Mozelle, 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. Mozelle's property taxes can vary significantly, with the 25th percentile tax bill at $70 and the 90th percentile reaching $664. The highest and lowest median tax bills in the area are both $192, found in the 40858 zip code. By understanding 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 helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Mozelle Assessed Value
$23,000
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 Mozelle, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 40858 | $2,908 | $9,800 | $23,000 | $39,500 | $55,180 |
Source: Ownwell
Property Tax Bills Across Mozelle, Kentucky
In Mozelle, KY, property tax bills are determined based on the assessed value of a home. The local tax rate is applied to this assessed value to calculate the annual tax bill. For example, with a median home price of $23,000, homeowners can expect varying tax bills depending on the specific assessment and applicable exemptions. Several factors influence the tax bill, including property size, location, and improvements. In Mozelle, the tax bill at the 25th percentile is around $70, while at the 75th percentile, it rises to approximately $421. Homeowners at the 90th percentile might see tax bills as high as $664. The highest median tax bill in the area is $192, consistent across the 40858 zip code. These property taxes fund essential local services such as public education, infrastructure, and emergency services. Understanding these elements helps homeowners plan their finances and gauge the value they receive from their community investments.
Average Mozelle Tax Bill
$192
Average Leslie County Tax Bill
$267
Average Kentucky Tax Bill
$1,031
Average United States Tax Bill
$2,690
Property Tax Bills Across Mozelle, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 40858 | $25 | $70 | $192 | $421 | $664 |
Source: Ownwell