Caldwell County, Kentucky Property Taxes
The median property tax rate in Caldwell County is 0.82%, 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 $49,350 in Caldwell County, the typical annual property tax bill amounts to $358, significantly below the national median of $2,690. Property taxes in Caldwell County are calculated based on the tax assessed value, often lower than the actual market value due to various property tax exemptions like the primary residence and agricultural exemptions. Understanding Caldwell County's specific property tax system, exploring available exemptions, and identifying opportunities for property tax reductions can provide substantial annual savings. Whether you live in Princeton or another part of Caldwell County, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Caldwell County, Kentucky Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.82%
Estimate Property Tax Bill
$405
$376
Ownwell’s Caldwell County Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Caldwell County with just 2 data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Caldwell County to estimate your property tax bill. This insight helps you understand potential tax liabilities. If you’d like to see trends on a city level, scroll down to navigate to a more local informational page. Your property assessed value is the value assigned to your property by your county for property tax calculations. Assessed value takes into account any exemptions you may have on your property.
Property Tax Rates Across Caldwell County, Kentucky
Property taxes in Caldwell County play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Caldwell County is 0.82%, which is lower than the U.S. national median of 0.99%. Local government entities within Caldwell County set these rates annually, and they can vary significantly between different areas within the county. Each year, Caldwell County estimates its required budget to maintain services for the upcoming fiscal year and divides this budget by the total value of all taxable property in the jurisdiction, resulting in the property tax rate. Although tax rates and budgets are influenced by laws and voter input, this calculation forms the basic process for setting property tax rates. The following data compares Caldwell County's effective property tax rate with other counties in Kentucky and the national median. For comparison, the city of Princeton has one of the higher property tax rates in Kentucky at 0.82%, while the city of Marion boasts one of the lowest at 0.53%. Analyzing how Caldwell County's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Caldwell County Tax Rate
0.82%
Average Kentucky Tax Rate
1.02%
Average United States Tax Rate
0.99%
Property Tax Rates Across Caldwell County, Kentucky
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Cadiz | 0.24% | 0.82% | 0.82% | 0.82% | 0.82% |
| Dawson Springs | 0.26% | 0.82% | 0.82% | 0.82% | 0.82% |
| Eddyville | N/A | N/A | N/A | N/A | N/A |
| Fredonia | 0.20% | 0.43% | 0.82% | 1.10% | 1.10% |
| Marion | 0.19% | 0.43% | 0.53% | 0.82% | 0.82% |
| Princeton | 0.26% | 0.82% | 0.82% | 0.99% | 0.99% |
Source: Ownwell
Property Tax Assessment Values Across Caldwell County, Kentucky
In Caldwell County, understanding the difference between "market value" and "assessed value" is key to comprehending property taxes. The market value represents the price a willing buyer would pay to a willing seller in an open, competitive market, considering location, property condition, and current economic trends. For tax purposes, this value is estimated by the Caldwell County Appraisal District. The assessed value, however, 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 Caldwell County are typically mailed in the spring, usually by the middle of April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By distinguishing between these valuation concepts, property owners can better navigate their tax responsibilities and understand how their property taxes are affected. For instance, Cadiz has the highest median tax bill at $749, while Princeton has the lowest at $349. Being aware of these valuation processes in Caldwell County will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively.
Property Tax Assessment Values Across Caldwell County, Kentucky
Source: Ownwell
$46,517
$74,623
$102,728
Average Caldwell County Assessed Value
$49,350
Average Kentucky Assessed Value
$110,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Caldwell County, Kentucky
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Cadiz | $28,800 | $43,875 | $91,342 | $162,138 | $237,400 |
| Dawson Springs | $6,000 | $20,000 | $53,650 | $126,650 | $230,000 |
| Eddyville | N/A | N/A | N/A | N/A | N/A |
| Fredonia | $7,000 | $29,900 | $60,000 | $114,750 | $208,850 |
| Marion | $10,781 | $53,950 | $102,728 | $163,229 | $228,849 |
| Princeton | $5,303 | $20,500 | $46,517 | $105,000 | $200,000 |
Source: Ownwell
Property Tax Bills Across Caldwell County, Kentucky
In Caldwell County, KY, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The assessment considers various factors, including the property's market value, location, and any improvements made. Homeowners in Caldwell County experience property tax bills that can vary significantly. For instance, the 25th percentile tax bill is around $126, while the 75th percentile tax bill reaches $789, and the 90th percentile hits $1388. Comparatively, the highest median tax bill within the county is in Cadiz at $749, whereas Princeton has the lowest at $349. This range indicates how property location within the county can impact the tax burden. With a median home price of $49,350, Caldwell County's property tax rates can be more manageable than the national median property tax rate of 0.99%, offering potential relief for homeowners. Understanding these factors helps homeowners anticipate their tax obligations and manage their finances more effectively.
Average Caldwell County Tax Bill
$358
Average Kentucky Tax Bill
$1,031
Average United States Tax Bill
$2,690
Property Tax Bills Across Caldwell County, Kentucky
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Cadiz | $165 | $345 | $749 | $1,736 | $1,950 |
| Dawson Springs | $30 | $107 | $369 | $902 | $1,522 |
| Eddyville | N/A | N/A | N/A | N/A | N/A |
| Fredonia | $29 | $128 | $401 | $791 | $1,250 |
| Marion | $66 | $162 | $513 | $646 | $1,232 |
| Princeton | $36 | $133 | $349 | $771 | $1,383 |
Source: Ownwell