Coxs Creek, Kentucky Property Taxes
The median property tax rate in Coxs Creek, KY is 1.17%, higher than both the national median of 0.99% and the Kentucky state median of 1.02%. With a median home value of $161,410 in Coxs Creek, the typical annual property tax bill is $1,760, which is lower than the national median of $2,690. Property taxes in Coxs Creek are calculated based on the tax assessed value, often lower than the market value due to exemptions like those for primary residences and agricultural land. Understanding Coxs Creek'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 Coxs Creek or another part of Bullitt County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Coxs Creek, 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 Coxs Creek Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Coxs Creek with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Coxs Creek 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 Coxs Creek, Kentucky
Property taxes in Coxs Creek, Kentucky, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Coxs Creek is 1.17%, significantly higher than both the Kentucky state median and the U.S. national median of 0.99%. Local government entities within Coxs Creek set these rates annually, and they can vary significantly across different neighborhoods. Each year, Coxs Creek 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 Coxs Creek's effective property tax rate to other counties in Kentucky and the national median. For comparison, the 40013 zip code has the highest median property tax rate of 1.17%, while the same 40013 zip code also has the lowest median tax rate of 1.17%. Understanding how these cities compare with Coxs Creek provides valuable insights into the varying tax landscape across Bullitt County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Coxs Creek Tax Rate
1.17%
Average Bullitt County Tax Rate
1.18%
Average Kentucky Tax Rate
1.02%
Average United States Tax Rate
0.99%
Property Tax Rates Across Coxs Creek, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 40013 | 0.75% | 1.02% | 1.17% | 1.19% | 1.26% |
Source: Ownwell
Property Tax Assessment Values Across Coxs Creek, Kentucky
In Coxs Creek, 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 Bullitt 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. In Coxs Creek, 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 Coxs Creek helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with both the highest and lowest median tax bill is 40013, with a median tax bill of $1,760.
Average Coxs Creek Assessed Value
$161,410
Average Bullitt County Assessed Value
$159,604
Average Kentucky Assessed Value
$110,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Coxs Creek, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 40013 | $32,600 | $67,540 | $161,410 | $230,177 | $306,780 |
Source: Ownwell
Property Tax Bills Across Coxs Creek, Kentucky
In Coxs Creek, located in Bullitt County, KY, property tax bills are calculated based on the assessed value of a homeowner's property. The assessed value is determined by local tax assessors who evaluate the property's market value. This assessed value, combined with the local tax rate, determines the final tax bill. Several factors influence the assessed value, including the property's size, location, and any improvements or additions. In Coxs Creek, the median home price is $161,410. Homeowners can expect their tax bills to vary significantly, with the 25th percentile at $668 and the 75th percentile reaching $2,577. For those at the higher end, the 90th percentile tax bill goes up to $3,597. These property taxes fund essential services such as schools, public safety, and infrastructure, directly impacting the quality of life in the community. While the national median property tax rate stands at 0.99%, understanding these local specifics helps homeowners in Coxs Creek better anticipate their annual financial obligations.
Average Coxs Creek Tax Bill
$1,760
Average Bullitt County Tax Bill
$1,790
Average Kentucky Tax Bill
$1,031
Average United States Tax Bill
$2,690
Property Tax Bills Across Coxs Creek, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 40013 | $237 | $668 | $1,760 | $2,577 | $3,597 |
Source: Ownwell