Hellier, Kentucky Property Taxes
The median property tax rate in Hellier, KY is 1.43%, considerably higher than both the national median of 0.99% and the Kentucky state median of 1.02%. With the median home value in Hellier, the typical annual property tax bill reaches $199, which is significantly lower than the national median of $2,690. Property taxes in Hellier 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 Hellier'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 Hellier or another part of Pike County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Hellier, Kentucky Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.43%
Estimate Property Tax Bill
$353
Ownwell’s Hellier Property Tax Bill Calculator assists homeowners, real estate investors, and potential owners in estimating their annual property taxes in Hellier with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Hellier to estimate your property tax bill. This valuable tool helps you understand potential tax liabilities. If you’re interested in seeing trends at a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by Pike County for property tax calculations, considering any exemptions that may apply.
Property Tax Rates Across Hellier, Kentucky
Property taxes in Hellier, Kentucky, are essential in funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Hellier is 1.43%, significantly higher than both the Kentucky state median and the U.S. national median of 0.99%. Local government entities within Hellier set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hellier 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 Hellier's effective property tax rate to other counties in Kentucky and the national median. For comparison, the 41534 zip code has the highest median property tax rate of 1.43%, while the same zip code also has the lowest median tax rate of 1.43%. Understanding how these cities compare with Hellier provides valuable insights into the varying tax landscape across Pike County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Hellier Tax Rate
1.43%
Average Pike County Tax Rate
1.37%
Average Kentucky Tax Rate
1.02%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hellier, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 41534 | 0.19% | 0.36% | 1.43% | 1.56% | 2.85% |
Source: Ownwell
Property Tax Assessment Values Across Hellier, Kentucky
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Hellier, Kentucky. 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 Pike 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 Hellier, 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. The median home price in Hellier is $24,700, with tax bills ranging significantly. For instance, the 25th percentile tax bill is $48, while the 75th percentile tax bill reaches $512. The highest median tax bill in Hellier is $199, found in the 41534 zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Hellier Assessed Value
$24,700
Average Pike County Assessed Value
$25,000
Average Kentucky Assessed Value
$110,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Hellier, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 41534 | $2,500 | $10,000 | $24,700 | $36,750 | $54,500 |
Source: Ownwell
Property Tax Bills Across Hellier, Kentucky
In Hellier, Pike County, KY, property tax bills are calculated based on the assessed value of the home and the local tax rate. Homeowners' tax bills are determined by multiplying the assessed value of their property by the local tax rate. For instance, with a median home price of $24,700, the property tax bill can vary significantly. At the 25th percentile, homeowners might pay around $48, while those at the 90th percentile could see bills as high as $789. Several factors influence these tax bills, including the property's assessed value, any applicable exemptions, and the specific tax rate set by local authorities. Compared to the national median property tax rate of 0.99%, Hellier's tax rates can present a more affordable option, especially for those with lower-valued properties. This variability in tax bills impacts homeowners differently, potentially making homeownership more accessible for some while posing a higher financial burden for others in the community.
Average Hellier Tax Bill
$199
Average Pike County Tax Bill
$205
Average Kentucky Tax Bill
$1,031
Average United States Tax Bill
$2,690
Property Tax Bills Across Hellier, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 41534 | $48 | $48 | $199 | $512 | $789 |
Source: Ownwell