Mouthcard, Kentucky Property Taxes
The median property tax rate in Mouthcard, KY is 1.37%, considerably higher than both the national median of 0.99% and the Kentucky state median of 1.02%. With the median home value in Mouthcard at $25,000, the typical annual property tax bill reaches $105, which is significantly lower than the national median of $2,690. Property taxes in Mouthcard 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 Mouthcard'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 Mouthcard 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
Mouthcard, 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 Mouthcard Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Mouthcard with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Mouthcard 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 Mouthcard, Kentucky
Property taxes in Mouthcard, Kentucky, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Mouthcard is 1.37%, significantly higher than the U.S. national median of 0.99%. Local government entities within Mouthcard set these rates annually, and they can vary across different neighborhoods. Each year, Mouthcard 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 Mouthcard's effective property tax rate to other regions in Kentucky and the national median. For comparison, the 41548 zip code has the highest median property tax rate of 1.37%, while the same zip code also has the lowest median tax rate of 1.37%. Understanding how these areas compare with Mouthcard 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 Mouthcard Tax Rate
1.37%
Average Pike County Tax Rate
1.37%
Average Kentucky Tax Rate
1.02%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mouthcard, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 41548 | 0.14% | 0.20% | 1.37% | 1.56% | 2.20% |
Source: Ownwell
Property Tax Assessment Values Across Mouthcard, Kentucky
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Mouthcard, 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 Mouthcard, 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. Mouthcard's property tax bills vary, with the highest median tax bill being $105 in the 41548 zip code, which is also the lowest median tax bill. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Mouthcard Assessed Value
$25,000
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 Mouthcard, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 41548 | $4,000 | $9,400 | $25,000 | $41,500 | $75,640 |
Source: Ownwell
Property Tax Bills Across Mouthcard, Kentucky
In Mouthcard, KY, property tax bills are determined based on the assessed value of a property and the local tax rate set by Pike County. The assessed value is typically a percentage of the market value of the home. For instance, with a median home price of $25,000, the tax bill can vary significantly. Homeowners in the 25th percentile pay around $48, while those in the 75th percentile pay approximately $466. At the 90th percentile, the tax bill can reach up to $922. These variations highlight how different factors, such as property size, location, and local tax rates, influence the overall tax burden. The highest and lowest median tax bills in the area are both $105, indicating a relatively uniform distribution of property tax rates within the specific zip code 41548. For homeowners, understanding these factors is crucial as they directly impact annual expenses and the overall affordability of owning a home in Mouthcard.
Average Mouthcard Tax Bill
$105
Average Pike County Tax Bill
$205
Average Kentucky Tax Bill
$1,031
Average United States Tax Bill
$2,690
Property Tax Bills Across Mouthcard, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 41548 | $48 | $48 | $105 | $466 | $922 |
Source: Ownwell