Rousseau, Kentucky Property Taxes
The median property tax rate in Rousseau, KY is 1.37%, considerably higher than both the national median of 0.99% and the Kentucky state median of 1.02%. With the median home value in Rousseau, the typical annual property tax bill reaches $248, which is significantly lower than the national median of $2,690. Property taxes in Rousseau are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Rousseau'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 Rousseau 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
Rousseau, Kentucky Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.37%
Estimate Property Tax Bill
$334
Ownwell’s Rousseau Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Rousseau with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Rousseau 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 Rousseau, Kentucky
Property taxes in Rousseau, Kentucky, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Rousseau is 1.37%, significantly higher than both the Kentucky state median and the U.S. national median of 0.99%. Local government entities within Rousseau set these rates annually, and they can vary significantly across different neighborhoods. Each year, Rousseau 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 Rousseau's effective property tax rate to other counties in Kentucky and the national median. For comparison, the 41366 zip code has the highest median property tax rate of 1.37%, while the same zip code also has the lowest median tax rate of 1.37%. Understanding how these cities compare with Rousseau provides valuable insights into the varying tax landscape across Breathitt County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Rousseau Tax Rate
1.37%
Average Breathitt County Tax Rate
1.37%
Average Kentucky Tax Rate
1.02%
Average United States Tax Rate
0.99%
Property Tax Rates Across Rousseau, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 41366 | 0.20% | 1.37% | 1.37% | 1.38% | 1.38% |
Source: Ownwell
Property Tax Assessment Values Across Rousseau, Kentucky
In Rousseau, 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 Breathitt 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 Rousseau, 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 Rousseau helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code 41366 has the highest and lowest median tax bill, both valued at $248.
Average Rousseau Assessed Value
$24,400
Average Breathitt County Assessed Value
$25,538
Average Kentucky Assessed Value
$110,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Rousseau, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 41366 | $5,000 | $10,300 | $24,400 | $41,675 | $70,390 |
Source: Ownwell
Property Tax Bills Across Rousseau, Kentucky
In Rousseau, KY, property tax bills are calculated based on the assessed value of a home, which is determined by the local county assessor. The median home price in Rousseau is $24,400. The assessed value is then multiplied by the local tax rate to determine the annual property tax bill. Several factors influence this calculation, including the property's location, size, and condition. In Breathitt County, where Rousseau is located, property tax bills can vary significantly. For instance, the tax bill at the 25th percentile is $69, while at the 75th percentile, it rises to $513. The 90th percentile sees a tax bill of $875. These variations highlight how different property characteristics and assessed values can impact the tax burden on homeowners. Compared to the national median property tax rate of 0.99%, Rousseau's property tax rates can be relatively low, providing some financial relief to homeowners in the area. However, understanding these factors is crucial for homeowners to manage their annual expenses effectively.
Average Rousseau Tax Bill
$248
Average Breathitt County Tax Bill
$188
Average Kentucky Tax Bill
$1,031
Average United States Tax Bill
$2,690
Property Tax Bills Across Rousseau, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 41366 | $29 | $69 | $248 | $513 | $875 |
Source: Ownwell