Aberdeen, Kentucky Property Taxes
The median property tax rate in Aberdeen, KY is 0.88%, which is lower than both the national median of 0.99% and the Kentucky state median of 1.02%. With a median home value of $10,000 in Aberdeen, the typical annual property tax bill is $58, significantly below the national median of $2,690. Property taxes in Aberdeen are calculated based on the tax assessed value, which often falls below the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Aberdeen's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Aberdeen or another part of the city, gaining insights into the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Aberdeen, Kentucky Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.88%
Estimate Property Tax Bill
$88
-$922
Ownwell’s Aberdeen Property Tax Bill Calculator is an essential tool for homeowners, real estate investors, or potential buyers to estimate their annual property taxes in Aberdeen with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Aberdeen to provide an estimate of 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 Butler County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Aberdeen, Kentucky
Property taxes in Aberdeen, Kentucky, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Aberdeen is 0.88%, lower than the U.S. national median of 0.99%. Local government entities within Aberdeen set these rates annually, and they can vary significantly across different neighborhoods. Each year, Aberdeen 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 Aberdeen's effective property tax rate to other counties in Kentucky and the national median. For comparison, the 42201 zip code has the highest median property tax rate of 0.88%, while the 42201 zip code also has the lowest median tax rate of 0.88%. Understanding how these cities compare with Aberdeen provides valuable insights into the varying tax landscape across Butler County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Aberdeen Tax Rate
0.88%
Average Butler County Tax Rate
0.90%
Average Kentucky Tax Rate
1.02%
Average United States Tax Rate
0.99%
Property Tax Rates Across Aberdeen, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 42201 | 0.79% | 0.87% | 0.88% | 1.56% | 1.68% |
Source: Ownwell
Property Tax Assessment Values Across Aberdeen, Kentucky
In Aberdeen, 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 Butler 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 Aberdeen, 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. The median home price in Aberdeen is $10,000, with tax bills ranging significantly. For instance, properties in the 25th percentile have tax bills around $42, whereas those in the 90th percentile can reach up to $644. Being aware of these valuation processes in Aberdeen helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Aberdeen Assessed Value
$10,000
Average Butler County Assessed Value
$64,000
Average Kentucky Assessed Value
$110,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Aberdeen, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 42201 | $1,950 | $3,500 | $10,000 | $39,875 | $73,600 |
Source: Ownwell
Property Tax Bills Across Aberdeen, Kentucky
In Aberdeen, Butler County, KY, property tax bills are calculated based on the assessed value of a home. The median home price in Aberdeen is $10,000. Property tax rates are applied to this assessed value to determine the tax bill. Several factors influence the tax bill, including the assessed value of the property and the local tax rate. For instance, homeowners at the 25th percentile can expect a tax bill of around $42, while those at the 75th percentile might see a bill of $156. At the 90th percentile, the tax bill could be as high as $644. These figures illustrate a range of tax liabilities that homeowners in Aberdeen might face. Compared to the national median property tax rate of 0.99%, Aberdeen's property taxes can be relatively modest, providing some financial relief to homeowners. Understanding these factors can help residents anticipate their property tax obligations and manage their finances more effectively.
Average Aberdeen Tax Bill
$58
Average Butler County Tax Bill
$452
Average Kentucky Tax Bill
$1,031
Average United States Tax Bill
$2,690
Property Tax Bills Across Aberdeen, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 42201 | $29 | $42 | $58 | $156 | $644 |
Source: Ownwell