Owen County Property Taxes
The median property tax rate in Owen County is 1.18%, which is higher than both the national median of 0.99% and the Kentucky state median of 1.02%. With a median home value of $55,000 in Owen County, the typical annual property tax bill is $541, significantly lower than the national median of $2,690. Property taxes in Owen County are calculated based on the tax assessed value, which often falls below the actual market value due to various property tax exemptions like the primary residence and agricultural exemptions. Understanding Owen County's specific property tax system, exploring available exemptions, and identifying opportunities for property tax reductions can provide significant annual savings. Whether you live in Owenton or another part of Owen County, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Owen County Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.02%
Estimate Property Tax Bill
$2,040
Ownwell’s Owen County Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner to estimate their annual property taxes in Owen County with just 2 data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Owen County to estimate your property tax bill. This insight helps you understand potential tax liabilities. If you’d like to see trends on a city level, scroll down to navigate to a more local informational page. Your property assessed value is the value assigned to your property by your county for property tax calculations. Assessed value takes into account any exemptions you may have on your property.
Property Tax Rates Across Owen County, Kentucky
Property taxes in Owen County play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Owen County is 1.18%, which is higher than both the Kentucky state median and the U.S. national median of 0.99%. Local government entities within Owen County set these rates annually, and they can vary significantly between different areas within the county. Each year, Owen County estimates its required budget to maintain services for the upcoming fiscal year, and divides this budget by the total value of all taxable property in the jurisdiction, resulting in the property tax rate. Although tax rates and budgets are influenced by laws and voter input, this calculation forms the basic process for setting property tax rates. The following data compares Owen County's effective property tax rate with other counties in Kentucky and the national median. For comparison, the city of Frankfort has one of the higher property tax rates in Kentucky at 2.92%, while the city of Owenton boasts one of the lowest at 1.17%. Analyzing how Owen County's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Owen County Tax Rate
1.18%
Average Kentucky Tax Rate
1.02%
Average United States Tax Rate
0.99%
Property Tax Rates Across Owen County, Kentucky
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Corinth | N/A | N/A | N/A | N/A | N/A |
| Dry Ridge | 0.58% | 1.17% | 1.19% | 1.20% | 1.25% |
| Frankfort | 1.53% | 2.05% | 2.92% | 3.78% | 4.30% |
| Glencoe | 0.71% | 1.15% | 1.18% | 1.20% | 1.28% |
| Jonesville | 0.68% | 1.15% | 1.18% | 1.21% | 1.24% |
| New Liberty | 0.81% | 1.15% | 1.18% | 1.22% | 1.83% |
| Owenton | 0.72% | 1.15% | 1.17% | 1.24% | 1.73% |
| Perry Park | N/A | N/A | N/A | N/A | N/A |
| Sadieville | 1.18% | 1.18% | 1.18% | 1.18% | 1.18% |
| Sanders | 1.15% | 1.19% | 1.23% | 1.56% | 1.90% |
| Sparta | 0.75% | 1.15% | 1.18% | 1.22% | 1.38% |
| Stamping Ground | 1.08% | 1.18% | 1.20% | 1.40% | 1.62% |
| Worthville | 0.88% | 1.17% | 1.23% | 1.50% | 2.32% |
Source: Ownwell
Property Tax Assessment Values Across Owen County, Kentucky
Understanding the difference between "market value" and "assessed value" is key to comprehending property taxes in Owen County, Kentucky. The market value represents the price a willing buyer would pay to a willing seller in an open, competitive market, considering location, property condition, and current economic trends. For tax purposes, this value is estimated by the Owen County Appraisal District. The assessed value, however, 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 in Owen County are typically mailed in the spring, usually by the middle of April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. For instance, homeowners in Sadieville face the highest median tax bill at $1,263, while those in Worthville see the lowest at $310. By distinguishing between these valuation concepts, property owners can better navigate their tax responsibilities and understand how their property taxes are affected. Being aware of these valuation processes will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively.
Average Owen County Assessed Value
$55,000
Average Kentucky Assessed Value
$110,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Owen County, Kentucky
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Corinth | N/A | N/A | N/A | N/A | N/A |
| Dry Ridge | $31,930 | $59,925 | $79,650 | $116,425 | $181,430 |
| Frankfort | $5,320 | $11,800 | $22,600 | $58,800 | $80,520 |
| Glencoe | $19,150 | $49,550 | $88,850 | $141,900 | $219,100 |
| Jonesville | $21,370 | $47,650 | $76,000 | $118,750 | $171,620 |
| New Liberty | $5,000 | $28,750 | $77,800 | $150,750 | $231,280 |
| Owenton | $3,000 | $22,000 | $70,600 | $125,000 | $202,900 |
| Perry Park | N/A | N/A | N/A | N/A | N/A |
| Sadieville | $106,900 | $106,900 | $106,900 | $106,900 | $106,900 |
| Sanders | $3,800 | $6,000 | $29,150 | $65,900 | $92,670 |
| Sparta | $12,000 | $30,000 | $77,900 | $125,000 | $206,780 |
| Stamping Ground | $7,920 | $15,000 | $62,000 | $94,100 | $164,980 |
| Worthville | $2,500 | $6,500 | $27,550 | $76,350 | $139,820 |
Source: Ownwell
Property Tax Bills Across Owen County, Kentucky
In Owen County, KY, property tax bills are determined based on the assessed value of a property, which is a percentage of its market value. Local tax rates are then applied to this assessed value to calculate the annual tax bill. The median home price in Owen County is $55,000, with property tax bills varying significantly across the region. For instance, the 25th percentile tax bill is $128, while the 75th percentile tax bill reaches $1,185. At the 90th percentile, homeowners might pay as much as $2,083. Factors influencing these tax bills include the assessed value of the property and the specific tax rate set by local taxing authorities. In Sadieville, the highest median tax bill is $1,263, whereas in Worthville, the lowest median tax bill is $310. These tax bills can have a substantial impact on homeowners, as they need to budget for these annual expenses. Compared to the national median property tax rate of 0.99%, Owen County's tax rates can be relatively modest, offering some financial relief to its residents.
Average Owen County Tax Bill
$541
Average Kentucky Tax Bill
$1,031
Average United States Tax Bill
$2,690
Property Tax Bills Across Owen County, Kentucky
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Corinth | N/A | N/A | N/A | N/A | N/A |
| Dry Ridge | $301 | $426 | $950 | $1,373 | $1,985 |
| Frankfort | $154 | $317 | $587 | $857 | $1,019 |
| Glencoe | $235 | $491 | $975 | $1,598 | $2,497 |
| Jonesville | $213 | $489 | $731 | $1,352 | $1,813 |
| New Liberty | $92 | $276 | $896 | $1,714 | $2,382 |
| Owenton | $58 | $240 | $692 | $1,373 | $2,309 |
| Perry Park | N/A | N/A | N/A | N/A | N/A |
| Sadieville | $1,263 | $1,263 | $1,263 | $1,263 | $1,263 |
| Sanders | $66 | $100 | $323 | $745 | $1,003 |
| Sparta | $150 | $340 | $813 | $1,395 | $2,347 |
| Stamping Ground | $121 | $174 | $760 | $1,143 | $1,894 |
| Worthville | $57 | $100 | $310 | $864 | $1,605 |
Source: Ownwell