Rockcastle County Property Taxes
The median property tax rate in Rockcastle is 0.83%, which is notably lower than both the national median of 0.99% and the Kentucky state median of 1.02%. With the median home value in Rockcastle at $48,500, the typical annual property tax bill is $286, significantly below the national median of $2,690. Property taxes in Rockcastle are calculated based on the tax assessed value, which is often lower than the actual market value due to various property tax exemptions, such as primary residence and agricultural exemptions. Understanding Rockcastle's specific property tax system, exploring available exemptions, and identifying opportunities for property tax reductions can provide substantial annual savings. Whether you live in Mount Vernon or another part of Rockcastle, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Rockcastle County Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.83%
Estimate Property Tax Bill
$403
Ownwell’s Rockcastle Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner to estimate their annual property taxes in Rockcastle with just 2 data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Rockcastle to estimate your property tax bill. This insight helps you understand potential tax liabilities. If you’d like to see trends on a city level, scroll down to navigate to a more local informational page. Your property assessed value is the value assigned to your property by your county for property tax calculations. Assessed value takes into account any exemptions you may have on your property.
Property Tax Rates Across Rockcastle County, Kentucky
Property taxes in Rockcastle County play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Rockcastle County is 0.83%, which is lower than the U.S. national median of 0.99%. Local government entities within Rockcastle County set these rates annually, and they can vary significantly between different areas within the county. Each year, Rockcastle County estimates its required budget to maintain services for the upcoming fiscal year, and divides this budget by the total value of all taxable property in the jurisdiction, resulting in the property tax rate. Although tax rates and budgets are influenced by laws and voter input, this calculation forms the basic process for setting property tax rates. The following data compares Rockcastle County's effective property tax rate with other counties and the national median. For comparison, the city of Berea has one of the higher property tax rates in the region at 0.83%, while the city of Wildie also has a rate of 0.83%. Analyzing how Rockcastle County's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Rockcastle County Tax Rate
0.83%
Average Kentucky Tax Rate
1.02%
Average United States Tax Rate
0.99%
Property Tax Rates Across Rockcastle County, Kentucky
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Berea | 0.37% | 0.83% | 0.83% | 0.83% | 0.83% |
| Brodhead | 0.37% | 0.83% | 0.83% | 0.83% | 0.83% |
| Crab Orchard | 0.32% | 0.83% | 0.83% | 0.83% | 0.83% |
| Livingston | 0.59% | 0.83% | 0.83% | 0.83% | 0.83% |
| Mc Kee | 0.41% | 0.83% | 0.83% | 0.83% | 0.83% |
| Mount Vernon | 0.40% | 0.83% | 0.83% | 0.83% | 0.83% |
| Orlando | 0.49% | 0.83% | 0.83% | 0.83% | 0.83% |
| Wildie | 0.83% | 0.83% | 0.83% | 0.83% | 0.83% |
Source: Ownwell
Property Tax Assessment Values Across Rockcastle County, Kentucky
In Rockcastle County, understanding the difference between "market value" and "assessed value" is key to comprehending property taxes. The market value represents the price a willing buyer would pay to a willing seller in an open, competitive market, considering location, property condition, and current economic trends. For tax purposes, this value is estimated by the Rockcastle County Appraisal District. The assessed value, however, 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. Assessment notices in Rockcastle County are typically mailed in the spring, usually by the middle of April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By distinguishing between these valuation concepts, property owners can better navigate their tax responsibilities and understand how their property taxes are affected. Being aware of these valuation processes in Rockcastle County will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively. Notably, Wildie has the highest median tax bill at $687, while Livingston has the lowest at $124.
Property Tax Assessment Values Across Rockcastle County, Kentucky
Source: Ownwell
$20,000
$51,500
$83,000
Average Rockcastle County Assessed Value
$48,500
Average Kentucky Assessed Value
$110,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Rockcastle County, Kentucky
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Berea | $4,000 | $10,000 | $40,000 | $74,125 | $124,750 |
| Brodhead | $5,000 | $16,000 | $55,000 | $97,925 | $150,000 |
| Crab Orchard | $3,250 | $10,875 | $60,000 | $95,656 | $147,000 |
| Livingston | $2,000 | $5,000 | $20,000 | $50,000 | $89,500 |
| Mc Kee | $7,000 | $32,500 | $49,000 | $103,200 | $153,125 |
| Mount Vernon | $4,500 | $14,350 | $50,000 | $96,150 | $156,930 |
| Orlando | $1,775 | $5,000 | $25,000 | $55,000 | $90,000 |
| Wildie | $83,000 | $83,000 | $83,000 | $83,000 | $83,000 |
Source: Ownwell
Property Tax Bills Across Rockcastle County, Kentucky
In Rockcastle County, KY, property tax bills are calculated based on the assessed value of a home rather than its market value. The assessed value is determined by the county assessor, who considers factors such as the property's size, location, and condition. The median home price in Rockcastle County is $48,500, with property tax bills varying widely across the region. Homeowners in the 25th percentile pay around $83 annually, while those in the 75th percentile face a tax bill of approximately $637. For properties in the 90th percentile, the tax bill can reach up to $1,151. The tax rate in Rockcastle County is relatively low compared to the national median property tax rate of 0.99%. This lower tax burden can be particularly beneficial for homeowners, making it more affordable to maintain property ownership. However, tax bills can still vary significantly depending on the specific location within the county. For instance, Wildie has the highest median tax bill at $687, whereas Livingston has the lowest at $124.
Average Rockcastle County Tax Bill
$286
Average Kentucky Tax Bill
$1,031
Average United States Tax Bill
$2,690
Property Tax Bills Across Rockcastle County, Kentucky
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Berea | $33 | $77 | $240 | $497 | $934 |
| Brodhead | $38 | $108 | $331 | $695 | $1,158 |
| Crab Orchard | $21 | $71 | $330 | $711 | $1,155 |
| Livingston | $17 | $41 | $124 | $331 | $640 |
| Mc Kee | $25 | $188 | $331 | $853 | $1,243 |
| Mount Vernon | $33 | $83 | $302 | $704 | $1,242 |
| Orlando | $14 | $41 | $151 | $373 | $669 |
| Wildie | $687 | $687 | $687 | $687 | $687 |
Source: Ownwell