Stanton, Kentucky Property Taxes
The median property tax rate in Stanton, KY is 0.90%, which is slightly below both the national median of 0.99% and the Kentucky state median of 1.02%. With a median home value of $50,000 in Stanton, the typical annual property tax bill is $359, significantly lower than the national median of $2,690. Property taxes in Stanton are calculated based on the tax assessed value, which is often less than the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Stanton's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Stanton or another part of Powell County, gaining insight into the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Stanton, Kentucky Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.9%
Estimate Property Tax Bill
$450
Ownwell’s Stanton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Stanton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Stanton 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 Stanton, Kentucky
Property taxes in Stanton, Kentucky, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Stanton is 0.90%, which is lower than the U.S. national median of 0.99%. Local government entities within Stanton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Stanton 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 Stanton's effective property tax rate to other areas in Kentucky and the national median. For comparison, the 40380 zip code has both the highest and lowest median property tax rate of 0.90%. Understanding how these areas compare with Stanton provides valuable insights into the varying tax landscape across Powell County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Stanton Tax Rate
0.90%
Average Powell County Tax Rate
0.90%
Average Kentucky Tax Rate
1.02%
Average United States Tax Rate
0.99%
Property Tax Rates Across Stanton, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 40380 | 0.44% | 0.90% | 0.90% | 0.90% | 0.90% |
Source: Ownwell
Property Tax Assessment Values Across Stanton, Kentucky
In Stanton, 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 Powell 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 Stanton, 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. Being aware of these valuation processes in Stanton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 40380, with a tax bill of $359, which is also the lowest median tax bill in the area.
Average Stanton Assessed Value
$50,000
Average Powell County Assessed Value
$40,000
Average Kentucky Assessed Value
$110,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Stanton, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 40380 | $5,000 | $15,000 | $50,000 | $92,500 | $150,000 |
Source: Ownwell
Property Tax Bills Across Stanton, Kentucky
In Stanton, located in Powell County, KY, property tax bills are calculated based on the assessed value of a property. The assessed value is determined by the local tax assessor and reflects the market value of the home. The median home price in Stanton is $50,000. Property taxes are then calculated by applying the local tax rate to this assessed value. For homeowners in Stanton, the tax bill can vary significantly. At the 25th percentile, property tax bills are around $108, while at the 75th percentile, they can reach approximately $788. For those at the 90th percentile, tax bills can be as high as $1,346. These variations depend on factors such as property size, location, and improvements. The highest and lowest median tax bills in Stanton are both $359, indicating a relatively uniform tax rate across different properties. Compared to the national median property tax rate of 0.99%, Stanton's property taxes are quite modest, providing some financial relief to homeowners in the area.
Average Stanton Tax Bill
$359
Average Powell County Tax Bill
$302
Average Kentucky Tax Bill
$1,031
Average United States Tax Bill
$2,690
Property Tax Bills Across Stanton, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 40380 | $39 | $108 | $359 | $788 | $1,346 |
Source: Ownwell