Fountain Run, Allen County, Kentucky Property Taxes
The median property tax rate in Fountain Run, KY is 0.95%, slightly below the national median of 0.99% and the Kentucky state median of 1.02%. With the median home value in Fountain Run, the typical annual property tax bill is $427, significantly lower than the national median of $2,690. Property taxes in Fountain Run are calculated based on the assessed value, which often falls below the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Fountain Run's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Fountain Run 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
Fountain Run, Allen County, Kentucky Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.95%
Estimate Property Tax Bill
$501
$465
Ownwell’s Fountain Run Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Fountain Run with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Fountain Run 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 Fountain Run, Allen County, Kentucky
Property taxes in Fountain Run, Kentucky, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Fountain Run is 0.95%, which is lower than the U.S. national median of 0.99%. Local government entities within Fountain Run set these rates annually, and they can vary significantly across different neighborhoods. Each year, Fountain Run 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 Fountain Run's effective property tax rate to other areas and the national median. For comparison, the zip code 42133 has the highest median property tax rate of 0.95%, while the lowest median tax rate is also 0.95% in the same zip code. Understanding how these areas compare with Fountain Run provides valuable insights into the varying tax landscape across Allen County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Fountain Run Tax Rate
0.95%
Average Allen County Tax Rate
0.94%
Average Kentucky Tax Rate
1.02%
Average United States Tax Rate
0.99%
Property Tax Rates Across Fountain Run, Allen County, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 42133 | 0.45% | 0.93% | 0.95% | 0.99% | 1.04% |
Source: Ownwell
Property Tax Assessment Values Across Fountain Run, Allen County, Kentucky
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Fountain Run, 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 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 Fountain Run, 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 Fountain Run helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Fountain Run is $52,752, with tax bills ranging from $203 at the 25th percentile to $1,808 at the 90th percentile. The highest and lowest median tax bills both occur in zip code 42133, with a median tax bill of $427.
Property Tax Assessment Values Across Fountain Run, Allen County, Kentucky
Source: Ownwell
$46,324
$149,412
$252,500
Average Fountain Run Assessed Value
$52,752
Average Allen County Assessed Value
$66,500
Average Kentucky Assessed Value
$110,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Fountain Run, Allen County, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 42133 | $8,840 | $29,290 | $52,752 | $108,789 | $200,400 |
Source: Ownwell
Property Tax Bills Across Fountain Run, Allen County, Kentucky
In Fountain Run, KY, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. This assessed value is then multiplied by the local property tax rate to determine the annual tax bill. For homeowners in Fountain Run, the median home price stands at $52,752. The tax bills in this area can vary significantly, with the 25th percentile tax bill at $203 and the 75th percentile reaching $948. Homeowners in the 90th percentile can see tax bills as high as $1,808. The highest and lowest median tax bills in the region are both recorded at $427 in the zip code 42133, reflecting some consistency in the tax assessment process. Compared to the national median property tax rate of 0.99%, Fountain Run's tax rates can be more favorable for homeowners. However, the impact on individual homeowners can vary widely based on the assessed value of their property and the specific tax rate applied.
Average Fountain Run Tax Bill
$427
Average Allen County Tax Bill
$516
Average Kentucky Tax Bill
$1,031
Average United States Tax Bill
$2,690
Property Tax Bills Across Fountain Run, Allen County, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 42133 | $49 | $203 | $427 | $948 | $1,808 |
Source: Ownwell