Barlow, Kentucky Property Taxes
The median property tax rate in Barlow, KY is 1.03%, slightly higher than both the national median of 0.99% and the Kentucky state median of 1.02%. With the median home value in Barlow at $47,000, the typical annual property tax bill amounts to $348, which is significantly lower than the national median of $2,690. Property taxes in Barlow are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as the primary residence and agricultural exemptions. Understanding Barlow'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 Barlow 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
Barlow, Kentucky Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.03%
Estimate Property Tax Bill
$484
Ownwell’s Barlow Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Barlow with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Barlow 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 Barlow, Kentucky
Property taxes in Barlow, Kentucky, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Barlow is 1.03%, higher than both the Kentucky state median and the U.S. national median of 0.99%. Local government entities within Barlow set these rates annually, and they can vary significantly across different neighborhoods. Each year, Barlow 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 Barlow's effective property tax rate to other counties in Kentucky and the national median. For comparison, the 42024 zip code has the highest median property tax rate of 1.03%, while the same zip code also has the lowest median tax rate of 1.03%. Understanding how these cities compare with Barlow provides valuable insights into the varying tax landscape across Ballard County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Barlow Tax Rate
1.03%
Average Ballard County Tax Rate
1.03%
Average Kentucky Tax Rate
1.02%
Average United States Tax Rate
0.99%
Property Tax Rates Across Barlow, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 42024 | 0.38% | 1.03% | 1.03% | 1.03% | 1.04% |
Source: Ownwell
Property Tax Assessment Values Across Barlow, Kentucky
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Barlow, 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 Ballard 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 Barlow, 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. The highest median tax bill in Barlow is $348.00 in zip code 42024. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Barlow Assessed Value
$47,000
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 Barlow, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 42024 | $6,000 | $15,000 | $47,000 | $95,000 | $175,823 |
Source: Ownwell
Property Tax Bills Across Barlow, Kentucky
In Barlow, located in Ballard County, KY, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of its market value. For instance, with a median home price of $47,000, the assessed value is determined by local tax authorities. The property tax rate is then applied to this assessed value to calculate the tax bill. Various factors such as property size, location, and improvements can influence the assessed value. Homeowners in Barlow can expect their tax bills to vary significantly. For example, the 25th percentile tax bill is $103, while the 75th percentile tax bill reaches $816, and the 90th percentile can be as high as $1,741. The median tax bill in the area stands at $348, which is considerably lower than the national median property tax rate of 0.99%. These tax bills directly impact homeowners by influencing their annual housing costs and overall financial planning.
Average Barlow Tax Bill
$348
Average Ballard County Tax Bill
$421
Average Kentucky Tax Bill
$1,031
Average United States Tax Bill
$2,690
Property Tax Bills Across Barlow, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 42024 | $51 | $103 | $348 | $816 | $1,741 |
Source: Ownwell