Ballard County, Kentucky Property Taxes
The median property tax rate in Ballard County is 1.03%, slightly higher than both the national median of 0.99% and Kentucky's state median of 1.02%. With a median home value of $52,000, the typical annual property tax bill in Ballard County is $421, which is well below the national median of $2,690. Property taxes in Ballard County are calculated based on the tax assessed value, which often falls below the actual market value due to various property tax exemptions, such as the primary residence and agricultural exemptions. Understanding Ballard County's specific property tax system, exploring available exemptions, and identifying opportunities for property tax reductions can provide significant annual savings. Whether you live in Wickliffe or another part of Ballard County, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Ballard County, Kentucky Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.03%
Estimate Property Tax Bill
$536
$497
Ownwell’s Ballard County Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner to estimate their annual property taxes in Ballard County with just two data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Ballard County 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 Ballard County, Kentucky
Property taxes in Ballard County play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Ballard County is 1.03%, which is higher than the U.S. national median of 0.99%. Local government entities within Ballard County set these rates annually, and they can vary significantly between different areas within the county. Each year, Ballard 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 Ballard County's effective property tax rate with other counties in Kentucky and the national median. For comparison, the city of Barlow has one of the higher property tax rates in Kentucky at 1.03%, while the city of Lovelaceville boasts one of the lowest at 0.81%. Analyzing how Ballard County's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Ballard County Tax Rate
1.03%
Average Kentucky Tax Rate
1.02%
Average United States Tax Rate
0.99%
Property Tax Assessment Values Across Ballard County, Kentucky
In Ballard 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 Ballard 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 Ballard 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 Ballard County will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively. The highest median tax bill in the county is $639 in Lovelaceville, while the lowest is $348 in Barlow.
Average Ballard County Assessed Value
$52,000
Average Kentucky Assessed Value
$110,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Ballard County, Kentucky
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Bandana | N/A | N/A | N/A | N/A | N/A |
| Barlow | $6,000 | $15,000 | $47,000 | $95,000 | $175,823 |
| Kevil | $6,000 | $20,000 | $62,500 | $125,000 | $200,000 |
| La Center | $5,125 | $15,000 | $45,000 | $98,000 | $164,497 |
| Lovelaceville | N/A | N/A | N/A | N/A | N/A |
| Wickliffe | $5,000 | $17,000 | $50,000 | $94,993 | $155,600 |
Source: Ownwell
Property Tax Bills Across Ballard County, Kentucky
In Ballard County, KY, property tax bills are calculated based on the assessed value of a home and the applicable tax rate. The assessed value is determined by local assessors who evaluate the property’s market value. Homeowners then pay a percentage of this assessed value as their property tax. For instance, if the median home price is $52,000, the property tax bill can vary significantly depending on the specific area within the county. In Ballard County, the tax bill at the 25th percentile is $129, while it jumps to $977 at the 75th percentile and reaches $1,752 at the 90th percentile. This variation illustrates how property values and local tax rates impact the final tax bill. Lovelaceville has the highest median tax bill at $639, whereas Barlow has the lowest at $348. These differences highlight the importance of understanding local property assessments and tax rates, as they directly affect the financial responsibilities of homeowners.
Average Ballard County Tax Bill
$421
Average Kentucky Tax Bill
$1,031
Average United States Tax Bill
$2,690