Kings Mountain, Kentucky Property Taxes
The median property tax rate in Kings Mountain, KY is 1.04%, slightly higher than both the national median of 0.99% and the Kentucky state median of 1.02%. With the median home value in Kings Mountain at $44,029, the typical annual property tax bill is $415, which is well below the national median of $2,690. Property taxes in Kings Mountain are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as those for primary residences and agricultural properties. Understanding Kings Mountain'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 Kings Mountain 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
Kings Mountain, Kentucky Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.04%
Estimate Property Tax Bill
$458
Ownwell’s Kings Mountain Property Tax Bill Calculator is a valuable tool for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Kings Mountain with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Kings Mountain to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. For those interested in more localized trends, additional neighborhood-level information is available below. Your property’s assessed value is the value assigned by Lincoln County for property tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Kings Mountain, Kentucky
Property taxes in Kings Mountain, Kentucky, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Kings Mountain is 1.04%, higher than both the Kentucky state median and the U.S. national median of 0.99%. Local government entities within Kings Mountain set these rates annually, and they can vary significantly across different neighborhoods. Each year, Kings Mountain 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 Kings Mountain's effective property tax rate to other counties in Kentucky and the national median. For comparison, the zip code 40442 has both the highest and lowest median property tax rate of 1.04%. Understanding how these cities compare with Kings Mountain provides valuable insights into the varying tax landscape across Lincoln County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Kings Mountain Tax Rate
1.04%
Average Lincoln County Tax Rate
1.04%
Average Kentucky Tax Rate
1.02%
Average United States Tax Rate
0.99%
Property Tax Rates Across Kings Mountain, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 40442 | 0.52% | 1.04% | 1.04% | 1.04% | 1.04% |
Source: Ownwell
Property Tax Assessment Values Across Kings Mountain, Kentucky
In Kings Mountain, 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 Lincoln County Property Valuation Administrator 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 Kings Mountain, 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. The median home price in Kings Mountain is $44,029, with the 25th percentile of tax bills at $124 and the 75th percentile at $798. The highest and lowest median tax bills are both $415, found in zip code 40442. 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 Kings Mountain helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Kings Mountain Assessed Value
$44,029
Average Lincoln County Assessed Value
$67,000
Average Kentucky Assessed Value
$110,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Kings Mountain, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 40442 | $5,000 | $14,375 | $44,029 | $86,625 | $126,352 |
Source: Ownwell
Property Tax Bills Across Kings Mountain, Kentucky
In Kings Mountain, located in Lincoln County, KY, property tax bills are calculated based on the assessed value of the property. The assessed value is determined by local assessors who evaluate the market value of the home. Homeowners in Kings Mountain can expect property tax rates to align closely with the national median property tax rate of 0.99%. For a median home price of $44,029 in Kings Mountain, the property tax bill can vary significantly. At the 25th percentile, homeowners might pay around $124, while those at the 75th percentile could see bills as high as $798. The 90th percentile tax bill can reach up to $1,176. The highest and lowest median tax bills in the area both stand at $415, indicating some consistency in tax rates across different zip codes within Lincoln County. These property taxes directly impact homeowners by contributing to local services such as schools, infrastructure, and emergency services, thereby enhancing the community's overall quality of life.
Average Kings Mountain Tax Bill
$415
Average Lincoln County Tax Bill
$557
Average Kentucky Tax Bill
$1,031
Average United States Tax Bill
$2,690
Property Tax Bills Across Kings Mountain, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 40442 | $52 | $124 | $415 | $798 | $1,176 |
Source: Ownwell