Delphia, Kentucky Property Taxes
The median property tax rate in Delphia, 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 Delphia, the typical annual property tax bill reaches $83, which is significantly lower than the national median of $2,690. Property taxes in Delphia are calculated based on the tax assessed value, often lower than the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Delphia'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 Delphia or another part of Perry County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Delphia, Kentucky 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 Delphia Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Delphia with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Delphia 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 Delphia, Kentucky
Property taxes in Delphia, Kentucky, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Delphia is 0.52%, which is lower than both the Kentucky state median of 0.83% and the U.S. national median of 0.99%. Local government entities within Delphia set these rates annually, and they can vary significantly across different neighborhoods. Each year, Delphia 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 Delphia's effective property tax rate to other counties in Kentucky and the national median. For comparison, the 40977 zip code has the highest median property tax rate of 0.83%, while the 41735 zip code has the lowest median tax rate of 0.52%. Understanding how these cities compare with Delphia 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 Delphia 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 Delphia, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 41735 | 1.04% | 1.04% | 1.04% | 1.04% | 1.04% |
Source: Ownwell
Property Tax Assessment Values Across Delphia, Kentucky
In Delphia, 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 Delphia, 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. For instance, homeowners in certain zip codes might see tax bills as low as $49, while others could reach up to $416. 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 Delphia helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Delphia Assessed Value
$8,000
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 Delphia, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 41735 | $2,250 | $5,000 | $8,000 | $25,250 | $40,000 |
Source: Ownwell
Property Tax Bills Across Delphia, Kentucky
Property tax bills in Delphia, Perry County, KY, are calculated based on the assessed value of a property and the local tax rate. The assessed value is determined by the county assessor and reflects the market value of the property. Homeowners in Delphia can expect their property tax bills to vary significantly depending on their property's assessed value. For example, the 25th percentile tax bill is $49, while the 75th percentile tax bill is $187, and the 90th percentile tax bill reaches $416. These figures indicate a range in tax burdens, with some homeowners paying much less than others. Compared to the national median property tax rate of 0.99%, homeowners in Delphia may find their rates more affordable, especially given the median home price of $8,000. However, the tax bill can still impact household budgets, particularly for those at the higher end of the assessed value spectrum. Understanding these factors helps homeowners anticipate their annual property tax obligations and manage their finances accordingly.
Average Delphia Tax Bill
$83
Average Perry County Tax Bill
$104
Average Kentucky Tax Bill
$1,031
Average United States Tax Bill
$2,690
Property Tax Bills Across Delphia, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 41735 | $22 | $49 | $83 | $187 | $416 |
Source: Ownwell