Burnside, Kentucky Property Taxes
The median property tax rate in Burnside, KY is 0.81%, which is lower than both the national median of 0.99% and the Kentucky state median of 1.02%. With the median home value in Burnside at $9,000, the typical annual property tax bill is around $60, significantly less than the national median of $2,690. Property taxes in Burnside 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 Burnside'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 Burnside 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
Burnside, 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 Burnside Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Burnside with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Burnside to provide an accurate estimate of your property tax bill. This insightful tool helps you understand potential tax liabilities and plan accordingly. For those interested in diving deeper, you can scroll down to uncover trends and more localized information at the neighborhood level. Your property’s assessed value is determined by Pulaski County for property tax calculations, factoring in any applicable exemptions.
Property Tax Rates Across Burnside, Kentucky
Property taxes in Burnside, Kentucky, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Burnside is 0.81%, which is lower than both the Kentucky state median and the U.S. national median of 0.99%. Local government entities within Burnside set these rates annually, and they can vary significantly across different neighborhoods. Each year, Burnside 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 Burnside's effective property tax rate to other areas in Kentucky and the national median. For comparison, the 42519 zip code has the highest median property tax rate of 0.81%, while the same zip code also has the lowest median tax rate of 0.81%. Understanding how these areas compare with Burnside provides valuable insights into the varying tax landscape across Pulaski County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Burnside Tax Rate
0.81%
Average Pulaski County Tax Rate
0.81%
Average Kentucky Tax Rate
1.02%
Average United States Tax Rate
0.99%
Property Tax Rates Across Burnside, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 42519 | 0.52% | 0.80% | 0.80% | 0.80% | 0.81% |
Source: Ownwell
Property Tax Assessment Values Across Burnside, Kentucky
In Burnside, 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 Pulaski County Property Valuation Administrator 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 Burnside, 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 Burnside helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the 25th percentile tax bill in Burnside is $20, while the 75th percentile tax bill is $282, highlighting the range of property tax burdens within the area.
Average Burnside Assessed Value
$9,000
Average Pulaski County Assessed Value
$57,500
Average Kentucky Assessed Value
$110,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Burnside, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 42519 | $1,500 | $3,000 | $9,000 | $46,000 | $130,000 |
Source: Ownwell
Property Tax Bills Across Burnside, Kentucky
In Burnside, KY, property tax bills are calculated based on the assessed value of a home, which is determined by the Pulaski County property assessor. The assessed value is a percentage of the market value of the property. Once the assessed value is established, the local tax rate is applied to determine the annual tax bill. For example, with a median home price of $9,000 in Burnside, homeowners can expect varying tax bills. At the 25th percentile, a tax bill might be as low as $20, while at the 75th percentile, it could rise to $282. For those at the 90th percentile, the tax bill can reach up to $805. These variances highlight the impact of different property values and local tax rates on homeowners' finances. Compared to the national median property tax rate of 0.99%, Burnside's property tax rates can significantly affect homeowners, especially those with properties assessed at higher values. Understanding these factors is crucial for budgeting and financial planning.
Average Burnside Tax Bill
$60
Average Pulaski County Tax Bill
$362
Average Kentucky Tax Bill
$1,031
Average United States Tax Bill
$2,690
Property Tax Bills Across Burnside, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 42519 | $12 | $20 | $60 | $282 | $805 |
Source: Ownwell