Dunnville, Kentucky Property Taxes
The median property tax rate in Dunnville, KY is 1.15%, higher than both the national median of 0.99% and the Kentucky state median of 1.02%. With a median home value of $60,000 in Dunnville, the typical annual property tax bill amounts to $350, which is significantly lower than the national median of $2,690. Property taxes in Dunnville are calculated based on the tax assessed value, which often falls below the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Dunnville'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 Dunnville 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
Dunnville, Kentucky Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.15%
Estimate Property Tax Bill
$690
Ownwell’s Dunnville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Dunnville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Dunnville 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 Dunnville, Kentucky
Property taxes in Dunnville, Kentucky, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Dunnville is 0.72%, lower than both the Kentucky state median of 0.83% and the U.S. national median of 0.99%. Local government entities within Dunnville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Dunnville 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 Dunnville's effective property tax rate to other counties in Kentucky and the national median. For comparison, the 42528 zip code has the highest median property tax rate of 0.72%, while the 42528 zip code also has the lowest median tax rate of 0.72%. Understanding how these cities compare with Dunnville provides valuable insights into the varying tax landscape across Adair County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Dunnville Tax Rate
1.15%
Average Adair County Tax Rate
1.13%
Average Kentucky Tax Rate
1.02%
Average United States Tax Rate
0.99%
Property Tax Rates Across Dunnville, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 42528 | 0.23% | 0.47% | 1.15% | 1.21% | 1.63% |
Source: Ownwell
Property Tax Assessment Values Across Dunnville, Kentucky
In Dunnville, 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 Adair 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. Assessment notices in Dunnville 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 Dunnville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 42528 has the highest median tax bill at $350, while the lowest median tax bill is also $350 in the same zip code.
Average Dunnville Assessed Value
$60,000
Average Adair County Assessed Value
$50,000
Average Kentucky Assessed Value
$110,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Dunnville, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 42528 | $5,000 | $20,000 | $60,000 | $115,000 | $160,400 |
Source: Ownwell
Property Tax Bills Across Dunnville, Kentucky
In Dunnville, KY, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The median home price in Dunnville stands at $60,000. Property tax rates are applied to this assessed value to determine the annual tax bill. Various factors, such as property location, improvements, and market conditions, influence the assessed value. For homeowners in Dunnville, property tax bills can vary significantly. The 25th percentile tax bill is around $82, while the 75th percentile tax bill can reach up to $804. At the upper end, the 90th percentile tax bill is approximately $1,363. These figures indicate a wide range of tax burdens, reflecting differences in property values and assessments. Compared to the national median property tax rate of 0.99%, Dunnville's property tax bills are relatively modest. However, understanding these factors and how they affect individual tax bills is crucial for homeowners looking to manage their expenses effectively.
Average Dunnville Tax Bill
$350
Average Adair County Tax Bill
$410
Average Kentucky Tax Bill
$1,031
Average United States Tax Bill
$2,690
Property Tax Bills Across Dunnville, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 42528 | $58 | $82 | $350 | $804 | $1,363 |
Source: Ownwell