Yeaddiss, Kentucky Property Taxes
The median property tax rate in Yeaddiss, 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 Yeaddiss, the typical annual property tax bill reaches $209, which is significantly lower than the national median of $2,690. Property taxes in Yeaddiss 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 Yeaddiss'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 Yeaddiss 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
Yeaddiss, Kentucky Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.4%
Estimate Property Tax Bill
$378
Ownwell’s Yeaddiss Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Yeaddiss with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Yeaddiss 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 Yeaddiss, Kentucky
Property taxes in Yeaddiss, Kentucky, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Yeaddiss is 1.40%, significantly higher than both the Kentucky state median and the U.S. national median of 0.99%. Local government entities within Yeaddiss set these rates annually, and they can vary significantly across different neighborhoods. Each year, Yeaddiss 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 Yeaddiss's effective property tax rate to other counties in Kentucky and the national median. For comparison, the 41777 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 Yeaddiss 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 Yeaddiss 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 Yeaddiss, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 41777 | 0.16% | 1.10% | 1.40% | 1.40% | 1.40% |
Source: Ownwell
Property Tax Assessment Values Across Yeaddiss, Kentucky
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Yeaddiss, 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 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. 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 Yeaddiss helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Yeaddiss, the highest median tax bill is $209 in zip code 41777, while the lowest is also $209.
Average Yeaddiss Assessed Value
$27,000
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 Yeaddiss, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 41777 | $2,611 | $9,500 | $27,000 | $43,350 | $62,860 |
Source: Ownwell
Property Tax Bills Across Yeaddiss, Kentucky
In Yeaddiss, located in Leslie County, KY, property tax bills are calculated based on the assessed value of a property, which is determined by the local tax assessor. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. For homeowners in Yeaddiss, the median home price stands at $27,000. Property tax bills vary significantly, with the 25th percentile at $70 and the 75th percentile reaching $528. At the 90th percentile, the tax bill can go up to $842. These taxes are crucial for funding local services such as schools, public safety, and infrastructure. Homeowners in Yeaddiss should be aware that factors like property size, location, and market conditions can influence their assessed value and, consequently, their tax bill. Comparatively, the national median property tax rate is 0.99%, making Yeaddiss's property tax rates relatively manageable. Understanding these factors can help homeowners better anticipate their tax obligations and manage their finances effectively.
Average Yeaddiss Tax Bill
$209
Average Leslie County Tax Bill
$267
Average Kentucky Tax Bill
$1,031
Average United States Tax Bill
$2,690
Property Tax Bills Across Yeaddiss, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 41777 | $20 | $70 | $209 | $528 | $842 |
Source: Ownwell