Wendover, Kentucky Property Taxes
The median property tax rate in Wendover, 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 Wendover, the typical annual property tax bill reaches $218, which is still below the national median of $2,690. Property taxes in Wendover 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 Wendover'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 Wendover 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
Wendover, Kentucky Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.4%
Estimate Property Tax Bill
$280
Ownwell’s Wendover Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Wendover with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Wendover 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 Wendover, Kentucky
Property taxes in Wendover, Kentucky, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Wendover is 1.40%, significantly higher than both the Kentucky state median and the U.S. national median of 0.99%. Local government entities within Wendover set these rates annually, and they can vary significantly across different neighborhoods. Each year, Wendover 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 Wendover's effective property tax rate to other counties in Kentucky and the national median. For comparison, the 41775 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 cities compare with Wendover 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 Wendover 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 Wendover, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 41775 | 0.58% | 1.05% | 1.40% | 1.40% | 1.40% |
Source: Ownwell
Property Tax Assessment Values Across Wendover, Kentucky
In Wendover, 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 Wendover, 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 Wendover helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills both stand at $218 in the zip code 41775, reflecting the consistency in property tax assessments within the area.
Average Wendover Assessed Value
$20,000
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 Wendover, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 41775 | $2,000 | $5,900 | $20,000 | $41,600 | $75,770 |
Source: Ownwell
Property Tax Bills Across Wendover, Kentucky
In Wendover, Kentucky, property tax bills are calculated based on the assessed value of a home. The median home price in Wendover is $20,000, and property tax rates are applied to this assessed value to determine the tax bill. Factors such as the home's market value, location, and any applicable exemptions play a crucial role in this calculation. For example, the tax bill at the 25th percentile is $66, while it rises significantly to $499 at the 75th percentile and $702 at the 90th percentile. These variations highlight how different factors can influence the final tax bill. Compared to the national median property tax rate of 0.99%, homeowners in Wendover may experience relatively lower or higher tax bills depending on their specific circumstances. This can impact homeowners by affecting their annual financial planning and potentially influencing decisions about property investments. Understanding these factors can help homeowners better anticipate their property tax obligations and manage their finances accordingly.
Average Wendover Tax Bill
$218
Average Leslie County Tax Bill
$267
Average Kentucky Tax Bill
$1,031
Average United States Tax Bill
$2,690
Property Tax Bills Across Wendover, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 41775 | $33 | $66 | $218 | $499 | $702 |
Source: Ownwell