Dawson Springs, Kentucky Property Taxes
The median property tax rate in Dawson Springs, KY is 0.82%, which is lower than both the national median of 0.99% and the Kentucky state median of 1.02%. With the median home value in Dawson Springs at $53,650, the typical annual property tax bill amounts to $369, significantly less than the national median of $2,690. Property taxes in Dawson Springs are calculated based on the tax assessed value, often lower than the market value due to exemptions such as those for primary residences and agricultural properties. Understanding the property tax system in Dawson Springs, exploring available exemptions, and identifying opportunities for reductions can result in considerable annual savings. Whether you reside in Dawson Springs or another part of Caldwell County, gaining a clear understanding of the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Dawson Springs, Kentucky Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.82%
Estimate Property Tax Bill
$440
Ownwell’s Dawson Springs Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Dawson Springs with just two simple data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Dawson Springs to provide an accurate estimate of your property tax bill. This valuable tool helps you grasp potential tax liabilities and make informed decisions. For those interested in more detailed trends at the neighborhood level, additional localized information is available further down the page. Your property’s assessed value is determined by Caldwell County for tax purposes and includes any applicable exemptions.
Property Tax Rates Across Dawson Springs, Kentucky
Property taxes in Dawson Springs, Kentucky, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Dawson Springs is 0.82%, which is lower than the U.S. national median of 0.99%. Local government entities within Dawson Springs set these rates annually, and they can vary significantly across different neighborhoods. Each year, Dawson Springs 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. Understanding how Dawson Springs compares with other areas in Caldwell County and the national median provides valuable insights into the varying tax landscape, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Dawson Springs Tax Rate
0.82%
Average Caldwell County Tax Rate
0.82%
Average Kentucky Tax Rate
1.02%
Average United States Tax Rate
0.99%
Property Tax Rates Across Dawson Springs, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 42408 | 0.26% | 0.82% | 0.82% | 0.82% | 0.82% |
Source: Ownwell
Property Tax Assessment Values Across Dawson Springs, Kentucky
In Dawson Springs, 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 Caldwell 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 Dawson Springs, 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 Dawson Springs helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $369.00, and this value is consistent across zip code 42408.
Average Dawson Springs Assessed Value
$53,650
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 Dawson Springs, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 42408 | $6,000 | $20,000 | $53,650 | $126,650 | $230,000 |
Source: Ownwell
Property Tax Bills Across Dawson Springs, Kentucky
In Dawson Springs, located in Caldwell County, KY, property tax bills are calculated based on the assessed value of a property, which is determined by the local tax assessor. The assessed value is a percentage of the market value, reflecting what the property could sell for under normal conditions. The local tax rate is then applied to this assessed value to determine the annual tax bill. Several factors influence the assessed value, including the property's location, size, and condition. For homeowners in Dawson Springs, the median home price is $53,650, resulting in a range of tax bills. The 25th percentile tax bill is $107, while the 75th percentile tax bill is $902, and the 90th percentile tax bill can reach up to $1,522. These property taxes fund essential local services, such as schools, emergency services, and infrastructure. Homeowners must budget for these taxes, which can vary significantly depending on the assessed value and applicable tax rates, impacting overall housing affordability and financial planning.
Average Dawson Springs Tax Bill
$369
Average Caldwell County Tax Bill
$358
Average Kentucky Tax Bill
$1,031
Average United States Tax Bill
$2,690
Property Tax Bills Across Dawson Springs, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 42408 | $30 | $107 | $369 | $902 | $1,522 |
Source: Ownwell