Wildie, Kentucky Property Taxes
The median property tax rate in Wildie, KY is 0.83%, which is considerably lower than both the national median of 0.99% and the Kentucky state median of 1.02%. With the median home value in Wildie at $83,000, the typical annual property tax bill is $687, falling well below the national median of $2,690. Property taxes in Wildie 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 Wildie'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 Wildie or another part of Rockcastle County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Wildie, 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 Wildie Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Wildie with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Wildie 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 Rockcastle County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Wildie, Kentucky
Property taxes in Wildie, Kentucky, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Wildie is 0.83%, which is below the U.S. national median of 0.99%. Local government entities within Wildie set these rates annually, and they can vary significantly across different neighborhoods. Each year, Wildie 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 Wildie's effective property tax rate to other counties in Kentucky and the national median. For comparison, the zip code 40492 has the highest median property tax rate of 0.83%, while the same zip code also has the lowest median tax rate of 0.83%. Understanding how these cities compare with Wildie provides valuable insights into the varying tax landscape across Rockcastle County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Wildie Tax Rate
0.83%
Average Rockcastle County Tax Rate
0.83%
Average Kentucky Tax Rate
1.02%
Average United States Tax Rate
0.99%
Property Tax Rates Across Wildie, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 40492 | 0.83% | 0.83% | 0.83% | 0.83% | 0.83% |
Source: Ownwell
Property Tax Assessment Values Across Wildie, Kentucky
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Wildie, 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 Rockcastle 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 Wildie, 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. The median home price in Wildie is $83,000, with the highest and lowest median tax bills both recorded at $687 in zip code 40492. 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 Wildie helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Wildie Assessed Value
$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 Wildie, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 40492 | $83,000 | $83,000 | $83,000 | $83,000 | $83,000 |
Source: Ownwell
Property Tax Bills Across Wildie, Kentucky
In Wildie, Rockcastle County, KY, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by local tax assessors who evaluate the property's market value. Homeowners in Wildie can expect a median home price of $83,000. The tax rate is applied to this assessed value to determine the annual tax bill. For Wildie, the median property tax bill is $687, which is relatively uniform across different percentiles, indicating a consistent rate. This median tax bill is considerably lower than the national median property tax rate of 0.99%, making Wildie an attractive location for homeowners seeking affordable property taxes. Factors influencing the tax bill include the property's assessed value, local tax rates, and any applicable exemptions. Lower property taxes in Wildie can significantly reduce the financial burden on homeowners, allowing them to allocate resources to other essential expenses or investments.
Average Wildie Tax Bill
$687
Average Rockcastle County Tax Bill
$286
Average Kentucky Tax Bill
$1,031
Average United States Tax Bill
$2,690
Property Tax Bills Across Wildie, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 40492 | $687 | $687 | $687 | $687 | $687 |
Source: Ownwell