Barren County Property Taxes
The median property tax rate in Barren County is 1.04%, slightly higher than both the national median of 0.99% and Kentucky's state median of 1.02%. With a median home value of $90,000 in Barren County, the typical annual property tax bill amounts to $755, which is significantly lower than the national median of $2,690. Property taxes in Barren County are based on the tax assessed value, which is often less than the actual market value due to various property tax exemptions, such as those for primary residences and agricultural properties. Understanding Barren 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 Glasgow or another part of Barren County, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Barren County 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 Barren County Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner to estimate their annual property taxes in Barren County with just 2 data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Barren 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 Barren County, Kentucky
Property taxes in Barren County play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Barren County is 1.04%, which is higher than both the Kentucky state median and the U.S. national median of 0.99%. Local government entities within Barren County set these rates annually, and they can vary significantly between different areas within the county. Each year, Barren 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 Barren County's effective property tax rate with other counties in Kentucky and the national median. For comparison, the city of Mount Hermon has one of the higher property tax rates in Kentucky at 1.12%, while the city of Hiseville boasts one of the lowest at 0.64%. Analyzing how Barren County's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Barren County Tax Rate
1.04%
Average Kentucky Tax Rate
1.02%
Average United States Tax Rate
0.99%
Property Tax Rates Across Barren County, Kentucky
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Austin | 0.28% | 0.72% | 1.02% | 1.06% | 1.17% |
| Cave City | 0.34% | 0.70% | 1.06% | 1.27% | 1.27% |
| Eighty Eight | 0.18% | 0.54% | 1.02% | 1.07% | 1.28% |
| Etoile | 0.17% | 0.41% | 0.75% | 1.08% | 1.18% |
| Fountain Run | 0.29% | 0.82% | 1.01% | 1.04% | 1.17% |
| Glasgow | 0.47% | 0.79% | 1.04% | 1.14% | 1.14% |
| Hardyville | 0.15% | 0.41% | 1.07% | 1.09% | 1.11% |
| Hiseville | 0.64% | 0.64% | 0.64% | 0.64% | 0.64% |
| Horse Cave | 0.24% | 0.48% | 0.86% | 1.12% | 1.20% |
| Knob Lick | 0.20% | 0.37% | 1.01% | 1.18% | 1.27% |
| Lucas | 0.56% | 1.01% | 1.02% | 1.05% | 1.11% |
| Mount Hermon | 1.08% | 1.10% | 1.12% | 1.15% | 1.16% |
| Park City | 0.31% | 0.75% | 1.08% | 1.28% | 1.28% |
| Smiths Grove | 0.23% | 0.55% | 1.04% | 1.12% | 1.35% |
| Summer Shade | 0.21% | 0.47% | 1.01% | 1.08% | 1.21% |
Source: Ownwell
Property Tax Assessment Values Across Barren County, Kentucky
In Barren 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 Barren 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 Barren 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. For example, the highest median tax bill in the county is in Glasgow at $837, while the lowest is in Fountain Run at $135. Being aware of these valuation processes in Barren County will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively.
Average Barren County Assessed Value
$90,000
Average Kentucky Assessed Value
$110,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Barren County, Kentucky
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Austin | $7,500 | $20,000 | $80,000 | $185,875 | $347,500 |
| Cave City | $10,000 | $35,000 | $80,000 | $143,500 | $231,820 |
| Eighty Eight | $13,500 | $49,075 | $90,800 | $146,250 | $202,150 |
| Etoile | $16,100 | $53,100 | $120,000 | $209,600 | $330,420 |
| Fountain Run | $2,180 | $4,000 | $15,000 | $100,000 | $229,400 |
| Glasgow | $10,000 | $40,000 | $97,500 | $164,900 | $257,500 |
| Hardyville | $46,260 | $70,600 | $93,400 | $144,750 | $350,440 |
| Hiseville | $112,000 | $112,000 | $112,000 | $112,000 | $112,000 |
| Horse Cave | $26,220 | $51,700 | $134,500 | $238,675 | $336,700 |
| Knob Lick | $15,200 | $22,500 | $51,500 | $165,500 | $286,600 |
| Lucas | $5,100 | $11,500 | $66,500 | $175,000 | $326,400 |
| Mount Hermon | $37,780 | $46,150 | $60,100 | $74,050 | $82,420 |
| Park City | $10,800 | $35,000 | $67,250 | $137,850 | $251,100 |
| Smiths Grove | $8,370 | $29,000 | $66,000 | $139,300 | $240,000 |
| Summer Shade | $13,000 | $36,425 | $86,200 | $176,125 | $337,260 |
Source: Ownwell
Property Tax Bills Across Barren County, Kentucky
In Barren County, KY, property tax bills are determined based on the assessed value of a homeowner's property. The assessed value is a percentage of the market value, and this figure is then multiplied by the local tax rate to calculate the tax bill. Homeowners in Barren County experience a range of tax bills, with the 25th percentile at $267 and the 75th percentile reaching $1,430. For those in the 90th percentile, tax bills can go up to $2,226. The median home price in the county is $90,000, and tax rates vary by locality. For instance, Glasgow has the highest median tax bill at $837, while Fountain Run has the lowest at $135. These variations can significantly impact homeowners, influencing their overall cost of living and financial planning. Compared to the national median property tax rate of 0.99%, Barren County's rates can offer relative affordability, making it an attractive option for potential homeowners.
Average Barren County Tax Bill
$755
Average Kentucky Tax Bill
$1,031
Average United States Tax Bill
$2,690
Property Tax Bills Across Barren County, Kentucky
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Austin | $76 | $172 | $589 | $1,296 | $2,383 |
| Cave City | $89 | $254 | $694 | $1,293 | $1,982 |
| Eighty Eight | $86 | $197 | $611 | $1,198 | $1,583 |
| Etoile | $124 | $338 | $659 | $1,137 | $1,579 |
| Fountain Run | $24 | $46 | $135 | $625 | $1,476 |
| Glasgow | $102 | $317 | $837 | $1,518 | $2,314 |
| Hardyville | $265 | $642 | $813 | $999 | $1,047 |
| Hiseville | $716 | $716 | $716 | $716 | $716 |
| Horse Cave | $256 | $504 | $814 | $1,438 | $2,144 |
| Knob Lick | $75 | $204 | $375 | $804 | $1,127 |
| Lucas | $51 | $102 | $544 | $1,565 | $2,805 |
| Mount Hermon | $433 | $518 | $660 | $802 | $887 |
| Park City | $100 | $278 | $664 | $1,179 | $1,901 |
| Smiths Grove | $76 | $192 | $503 | $998 | $1,719 |
| Summer Shade | $111 | $246 | $562 | $1,050 | $1,763 |
Source: Ownwell