Ary, Kentucky Property Taxes
The median property tax rate in ARY, 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 ARY, the typical annual property tax bill reaches $104, which is significantly lower than the national median of $2,690. Property taxes in ARY 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 ARY'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 ARY 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
Ary, Kentucky Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.04%
Estimate Property Tax Bill
$104
-$1,090
Ownwell’s ARY Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in ARY with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in ARY 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 Perry County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Ary, Kentucky
Property taxes in ARY, Kentucky, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in ARY is 1.04%, higher than both the Kentucky state median and the U.S. national median of 0.99%. Local government entities within ARY set these rates annually, and they can vary significantly across different neighborhoods. Each year, ARY 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 ARY's effective property tax rate to other counties in Kentucky and the national median. For comparison, the 41712 zip code has both the highest and lowest median property tax rate of 1.04%. Understanding how these cities compare with ARY provides valuable insights into the varying tax landscape across Perry County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Ary Tax Rate
1.04%
Average Perry County Tax Rate
1.04%
Average Kentucky Tax Rate
1.02%
Average United States Tax Rate
0.99%
Property Tax Rates Across Ary, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 41712 | 0.98% | 1.04% | 1.04% | 1.04% | 1.04% |
Source: Ownwell
Property Tax Assessment Values Across Ary, Kentucky
In ARY, 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 Perry 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 ARY, 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. For instance, the zip code 41712 has both the highest and lowest median tax bills at $104. Being aware of these valuation processes in ARY helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Ary Assessed Value
$10,000
Average Perry County Assessed Value
$11,075
Average Kentucky Assessed Value
$110,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Ary, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 41712 | $1,250 | $5,000 | $10,000 | $31,250 | $64,000 |
Source: Ownwell
Property Tax Bills Across Ary, Kentucky
In ARY, Perry County, KY, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The median home price in this area is $10,000. Property tax rates in Perry County are significantly lower than the national median property tax rate of 0.99%. The tax bill for homeowners in the 25th percentile is $52, while those in the 75th percentile pay $309. Homeowners in the 90th percentile face a tax bill of $646. Several factors influence these tax bills, including the assessed value of the property, local tax rates, and any applicable exemptions or deductions. This relatively low property tax burden can make homeownership in Perry County more affordable compared to other regions. The highest and lowest median tax bills in ARY both stand at $104, indicating a consistent tax environment within the area. Understanding these factors can help homeowners anticipate their annual property tax obligations and manage their finances more effectively.
Average Ary Tax Bill
$104
Average Perry County Tax Bill
$104
Average Kentucky Tax Bill
$1,031
Average United States Tax Bill
$2,690
Property Tax Bills Across Ary, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 41712 | $21 | $52 | $104 | $309 | $646 |
Source: Ownwell