Etoile, Kentucky Property Taxes
The median property tax rate in Etoile, KY is 0.75%, which is notably lower than both the national median of 0.99% and the Kentucky state median of 1.02%. With a median home value of $120,000 in Etoile, the typical annual property tax bill amounts to $659, significantly below the national median of $2,690. Property taxes in Etoile are determined based on the tax assessed value, which is often less than the market value due to various exemptions, such as primary residence and agricultural exemptions. By understanding Etoile's property tax system, exploring available exemptions, and identifying opportunities for reductions, homeowners and real estate investors can achieve substantial annual savings. Whether you're residing in the heart of Etoile or another part of the city, grasping the intricacies of the local property tax system is essential for financial planning and investment strategies.
Last Updated June 14, 2024
Etoile, Kentucky 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 Etoile Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Etoile with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Etoile 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 Etoile, Kentucky
Property taxes in Etoile, Kentucky, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Etoile is 0.75%, which is lower than the U.S. national median of 0.99%. Local government entities within Etoile set these rates annually, and they can vary significantly across different neighborhoods. Each year, Etoile 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 Etoile's effective property tax rate to other counties in Kentucky and the national median. For comparison, the ZIP code 42131 has the highest median property tax rate of 0.75%, while the same ZIP code also has the lowest median tax rate of 0.75%. Understanding how these cities compare with Etoile provides valuable insights into the varying tax landscape across Barren County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Etoile Tax Rate
0.75%
Average Barren County Tax Rate
1.04%
Average Kentucky Tax Rate
1.02%
Average United States Tax Rate
0.99%
Property Tax Rates Across Etoile, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 42131 | 0.17% | 0.41% | 0.75% | 1.08% | 1.18% |
Source: Ownwell
Property Tax Assessment Values Across Etoile, Kentucky
In Etoile, 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 Barren 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 Etoile, 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 Etoile helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill is 42131, both at $659.
Average Etoile Assessed Value
$120,000
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 Etoile, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 42131 | $16,100 | $53,100 | $120,000 | $209,600 | $330,420 |
Source: Ownwell
Property Tax Bills Across Etoile, Kentucky
In Etoile, located in Barren County, 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 Etoile is $120,000. Homeowners can expect their property tax bills to vary widely, with the 25th percentile tax bill at $338, the 75th percentile at $1,137, and the 90th percentile reaching up to $1,579. These figures highlight the range of property tax burdens within the community. Several factors influence the final tax bill, including the assessed value of the property, local tax rates, and any applicable exemptions or deductions. Compared to the national median property tax rate of 0.99%, Etoile's property tax rates can be seen as relatively moderate. For homeowners, understanding how these factors interplay is crucial for financial planning and managing annual expenses. Accurate assessments and knowledge of potential exemptions can significantly impact the overall tax obligation.
Average Etoile Tax Bill
$659
Average Barren County Tax Bill
$755
Average Kentucky Tax Bill
$1,031
Average United States Tax Bill
$2,690
Property Tax Bills Across Etoile, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 42131 | $124 | $338 | $659 | $1,137 | $1,579 |
Source: Ownwell