Bowling Green, Kentucky Property Taxes
The median property tax rate in Bowling Green, KY is 0.80%, which is lower than both the national median of 0.99% and the Kentucky state median of 1.02%. With a median home value of $152,800 in Bowling Green, the typical annual property tax bill amounts to $1,091, significantly below the national median of $2,690. Property taxes in Bowling Green are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Bowling Green'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 Bowling Green 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
Bowling Green, 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 Bowling Green Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Bowling Green with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Bowling Green 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 Bowling Green, Kentucky
Property taxes in Bowling Green, Kentucky, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Bowling Green is 0.80%, which is lower than the U.S. national median of 0.99%. Local government entities within Bowling Green set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bowling Green 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 Bowling Green's effective property tax rate to other counties in Kentucky and the national median. For comparison, the 42104 zip code has the highest median property tax rate of 0.80%, while the 42103 zip code has the lowest median tax rate of 0.80%. Understanding how these cities compare with Bowling Green provides valuable insights into the varying tax landscape across Warren County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bowling Green Tax Rate
0.80%
Average Warren County Tax Rate
0.80%
Average Kentucky Tax Rate
1.02%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bowling Green, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 42101 | 0.34% | 0.48% | 0.80% | 0.84% | 0.90% |
| 42103 | 0.34% | 0.66% | 0.80% | 0.82% | 0.85% |
| 42104 | 0.34% | 0.68% | 0.80% | 0.85% | 0.88% |
Source: Ownwell
Property Tax Assessment Values Across Bowling Green, Kentucky
In Bowling Green, Kentucky, understanding the difference between "market value" and "assessed value" is essential 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 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. 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. In Bowling Green, the median home price is $152,800. The highest median tax bill is $1,471 in the 42104 zip code, while the lowest is $779 in the 42101 zip code. 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 helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Bowling Green Assessed Value
$152,800
Average Warren County Assessed Value
$150,000
Average Kentucky Assessed Value
$110,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bowling Green, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 42101 | $27,628 | $66,000 | $116,000 | $165,000 | $225,000 |
| 42103 | $93,252 | $133,000 | $200,000 | $300,000 | $455,000 |
| 42104 | $95,000 | $140,000 | $190,000 | $260,000 | $340,000 |
Source: Ownwell
Property Tax Bills Across Bowling Green, Kentucky
In Bowling Green, located in Warren County, KY, property tax bills are determined by assessing the value of a home and applying the local tax rate. The median home price in this area is $152,800. Homeowners can expect their property tax bills to vary significantly, with the 25th percentile bill being around $505, and the 75th percentile reaching approximately $1,731. For those at the higher end, the 90th percentile tax bill can be as much as $2,561. The highest median tax bill in Bowling Green is found in the 42104 zip code, standing at $1,471, while the lowest is in the 42101 zip code at $779. These variations are influenced by factors such as property location, assessed value, and any applicable exemptions. Compared to the national median property tax rate of 0.99%, Bowling Green's tax rates can present a more affordable option for homeowners, potentially lowering the overall cost of homeownership in this region.
Average Bowling Green Tax Bill
$1,091
Average Warren County Tax Bill
$1,091
Average Kentucky Tax Bill
$1,031
Average United States Tax Bill
$2,690
Property Tax Bills Across Bowling Green, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 42101 | $130 | $303 | $779 | $1,253 | $1,758 |
| 42103 | $437 | $810 | $1,401 | $2,317 | $3,570 |
| 42104 | $377 | $875 | $1,471 | $2,091 | $2,764 |
Source: Ownwell