Brandenburg, Kentucky Property Taxes
The median property tax rate in Brandenburg, KY is 1.17%, notably higher than both the national median of 0.99% and the Kentucky state median of 1.02%. With a median home value of $139,550 in Brandenburg, the typical annual property tax bill reaches approximately $1,500, which is lower than the national median of $2,690. Property taxes in Brandenburg are calculated based on the tax assessed value, which often falls below the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Brandenburg'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 Brandenburg or another part of Meade County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Brandenburg, Kentucky Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.17%
Estimate Property Tax Bill
$1,633
Ownwell’s Brandenburg Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Brandenburg with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Brandenburg 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 Brandenburg, Kentucky
Property taxes in Brandenburg, Kentucky, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Brandenburg is 1.17%, higher than both the Kentucky state median and the U.S. national median of 0.99%. Local government entities within Brandenburg set these rates annually, and they can vary significantly across different neighborhoods. Each year, Brandenburg 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 Brandenburg's effective property tax rate to other counties in Kentucky and the national median. For comparison, the 40108 zip code has the highest median property tax rate of 1.17%, while the 40108 zip code also has the lowest median tax rate of 1.17%. Understanding how these cities compare with Brandenburg provides valuable insights into the varying tax landscape across Meade County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Brandenburg Tax Rate
1.17%
Average Meade County Tax Rate
1.16%
Average Kentucky Tax Rate
1.02%
Average United States Tax Rate
0.99%
Property Tax Rates Across Brandenburg, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 40108 | 0.72% | 0.97% | 1.17% | 1.17% | 1.37% |
Source: Ownwell
Property Tax Assessment Values Across Brandenburg, Kentucky
In Brandenburg, 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 local 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 Brandenburg, 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 Brandenburg stands at $139,550. 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 Brandenburg helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Brandenburg Assessed Value
$139,550
Average Meade County Assessed Value
$122,800
Average Kentucky Assessed Value
$110,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Brandenburg, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 40108 | $35,000 | $79,400 | $139,550 | $196,300 | $278,300 |
Source: Ownwell
Property Tax Bills Across Brandenburg, Kentucky
In Brandenburg, located in Meade County, KY, property tax bills are determined by assessing the market value of a home and applying the local tax rate. The median home price in Brandenburg is $139,550. Property taxes in this area can vary significantly, with tax bills at the 25th percentile around $808 and those at the 75th percentile reaching up to $2,264. At the higher end, the 90th percentile tax bill can be as much as $3,198. These variations are influenced by multiple factors, including the assessed value of the property, local tax rates, and any applicable exemptions or deductions. For homeowners, this means that understanding the assessed value of their property and the local tax rate is crucial in anticipating their annual property tax bill. Comparatively, the national median property tax rate is 0.99%, making it essential for homeowners in Brandenburg to stay informed about local assessments and rates to effectively manage their property tax obligations.
Average Brandenburg Tax Bill
$1,500
Average Meade County Tax Bill
$1,267
Average Kentucky Tax Bill
$1,031
Average United States Tax Bill
$2,690
Property Tax Bills Across Brandenburg, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 40108 | $322 | $808 | $1,500 | $2,264 | $3,198 |
Source: Ownwell