Webster, Kentucky Property Taxes
The median property tax rate in Webster, KY is 0.95%, slightly below both the national median of 0.99% and the Kentucky state median of 1.02%. With a median home value of $88,000 in Webster, the typical annual property tax bill is approximately $595, which is significantly lower than the national median of $2,690. Property taxes in Webster are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Webster'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 Webster 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
Webster, 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 Webster Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Webster with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Webster 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 Webster, Kentucky
Property taxes in Webster, Kentucky, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Webster is 0.95%, slightly below the U.S. national median of 0.99%. Local government entities within Webster set these rates annually, and they can vary significantly across different neighborhoods. Each year, Webster 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 Webster's effective property tax rate to other counties in Kentucky and the national median. For comparison, the 40176 zip code has both the highest and lowest median property tax rate of 0.95%. Understanding how these cities compare with Webster 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 Webster Tax Rate
0.95%
Average Breckinridge County Tax Rate
0.96%
Average Kentucky Tax Rate
1.02%
Average United States Tax Rate
0.99%
Property Tax Rates Across Webster, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 40176 | 0.30% | 0.57% | 0.95% | 1.05% | 1.41% |
Source: Ownwell
Property Tax Assessment Values Across Webster, Kentucky
In Webster, 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 local 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 Webster, 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 Webster helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Webster is $88,000, with the highest median tax bill in the 40176 zip code at $595, and the lowest median tax bill also in the 40176 zip code at $595.
Average Webster Assessed Value
$88,000
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 Webster, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 40176 | $8,000 | $28,750 | $88,000 | $156,000 | $276,380 |
Source: Ownwell
Property Tax Bills Across Webster, Kentucky
In Webster, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. For instance, with a median home price of $88,000, homeowners can expect their tax bill to vary significantly. The 25th percentile tax bill is around $262, while the 75th percentile tax bill can reach up to $1,134. For those at the 90th percentile, tax bills can soar to approximately $1,714. Factors such as property improvements, neighborhood developments, and market conditions can influence the assessed value, thereby affecting the tax bill. Compared to the national median property tax rate of 0.99%, Webster's property taxes can be quite variable, impacting homeowners differently based on their property values. This variability in tax bills means that homeowners need to stay informed about their property's assessed value and any changes in local tax rates to effectively manage their annual property tax expenses.
Average Webster Tax Bill
$595
Average Breckinridge County Tax Bill
$536
Average Kentucky Tax Bill
$1,031
Average United States Tax Bill
$2,690
Property Tax Bills Across Webster, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 40176 | $114 | $262 | $595 | $1,134 | $1,714 |
Source: Ownwell