Hardinsburg, Kentucky Property Taxes
The median property tax rate in Hardinsburg, KY is 0.93%, slightly lower than the national median of 0.99% and the Kentucky state median of 1.02%. With a median home value of $80,000 in Hardinsburg, the typical annual property tax bill is $648, which is significantly below the national median of $2,690. Property taxes in Hardinsburg are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Hardinsburg'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 Hardinsburg 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
Hardinsburg, Kentucky Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.93%
Estimate Property Tax Bill
$744
Ownwell’s Hardinsburg Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Hardinsburg with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Hardinsburg 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 Hardinsburg, Kentucky
Property taxes in Hardinsburg, Kentucky, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Hardinsburg is 0.93%, which is lower than the U.S. national median of 0.99%. Local government entities within Hardinsburg set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hardinsburg 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 Hardinsburg's effective property tax rate to other areas and the national median. For comparison, the zip code 40143 has the highest median property tax rate of 0.93%, while the same zip code also has the lowest median tax rate of 0.93%. Understanding how these areas compare with Hardinsburg provides valuable insights into the varying tax landscape across Breckinridge County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Hardinsburg Tax Rate
0.93%
Average Breckinridge County Tax Rate
0.96%
Average Kentucky Tax Rate
1.02%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hardinsburg, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 40143 | 0.38% | 0.65% | 0.92% | 0.99% | 1.32% |
Source: Ownwell
Property Tax Assessment Values Across Hardinsburg, Kentucky
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Hardinsburg, KY. 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 Breckinridge County Property Valuation Administrator 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. Assessment notices in Hardinsburg 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. For instance, the median home price in Hardinsburg is $80,000, with tax bills ranging significantly. The 25th percentile tax bill is $254, while the 75th percentile tax bill is $1,169. The highest median tax bill is $648 in the 40143 zip code, which also has the lowest median tax bill at $648. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to manage the tax burden effectively.
Average Hardinsburg Assessed Value
$80,000
Average Breckinridge County Assessed Value
$64,000
Average Kentucky Assessed Value
$110,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Hardinsburg, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 40143 | $5,500 | $25,000 | $80,000 | $144,500 | $243,200 |
Source: Ownwell
Property Tax Bills Across Hardinsburg, Kentucky
In Hardinsburg, located in Breckinridge County, KY, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by local assessors who evaluate the property's market value. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. For example, with a median home price of $80,000, homeowners can expect varying tax bills depending on their property's assessed value and applicable exemptions. Factors such as property size, location, and improvements can influence the assessed value. In Hardinsburg, the tax bill ranges significantly, with the 25th percentile at $254 and the 75th percentile reaching $1,169. The 90th percentile tax bill can go up to $1,776. These figures are relatively lower compared to the national median property tax rate of 0.99%. Homeowners in Hardinsburg benefit from this lower rate, making it a more affordable area in terms of property taxes.
Average Hardinsburg Tax Bill
$648
Average Breckinridge County Tax Bill
$536
Average Kentucky Tax Bill
$1,031
Average United States Tax Bill
$2,690
Property Tax Bills Across Hardinsburg, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 40143 | $96 | $254 | $648 | $1,169 | $1,776 |
Source: Ownwell