Mayfield, Calloway County, Kentucky Property Taxes
Median Mayfield, KY effective property tax rate: 0.92%, significantly lower than the national median of 1.02%, but lower than the Kentucky state median of 1.02%.
Median Mayfield, KY home value: $18,500
Median annual Mayfield, KY tax bill: $80, $2,320 lower than the national median property tax bill of $2,400.
How are property taxes in Calloway calculated?
Property taxes in Mayfield, KY are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.
Understanding Mayfield’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Mayfield, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Mayfield, Calloway County, Kentucky Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.92%
Estimate Property Tax Bill
$170
$158
Property Tax Rates Across Mayfield, Calloway County, Kentucky
Local government entities set property tax rates, which can vary significantly within a state. This variation is primarily due to each county's annual budget estimation process. Counties determine their required budget to maintain local services and divide that by the total value of all taxable property within their jurisdiction, resulting in the property tax rate. Although votes and laws play a role in setting these rates and budgets, this is essentially the annual procedure.
Mayfield in Calloway County, Kentucky, exemplifies this process. Here, the effective property tax rate is a reflection of local budgetary needs and the total assessed value of property. Compared to other cities in Kentucky, Mayfield's rate is influenced by these unique local factors. The median property tax rate in Kentucky is slightly lower than the national median, highlighting the state's relatively favorable tax environment. This comparison provides valuable insight for property owners evaluating their tax obligations. Understanding how local tax rates are determined can help property owners anticipate changes and make informed decisions about appeals and exemptions.
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Mayfield Tax Rate
0.92%
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Calloway County Tax Rate
0.92%
Median Effective Kentucky Tax Rate
1.02%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Mayfield, Calloway County, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 42066 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
Property Tax Assessment Values Across Mayfield, Calloway County, Kentucky
When examining property taxes in Mayfield, Kentucky, understanding the distinction between "market value" and "assessed value" is crucial.
The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Calloway County Property Valuation Administrator estimates the market value for tax purposes.
The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.
Assessment notices:
In Calloway County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of April.
Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Mayfield.
For example, the median home price in Mayfield is $18,500, with tax bills ranging significantly across the county.
Property Tax Assessment Values Across Mayfield, Calloway County, Kentucky
Source: Ownwell
$17,000
$17,000
$17,000
Median Mayfield Market Value
$18,500
Median Calloway County Market Value
$600
Median Kentucky Market Value
$110,000
Median United States Market Value
$235,294
Property Tax Assessment Values Across Mayfield, Calloway County, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 42066 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
Property Tax Bills Across Mayfield, Calloway County, Kentucky
In Mayfield, located in Calloway County, KY, property tax bills are determined based on the assessed value of a home. The assessed value is typically a percentage of the market value, which is influenced by factors such as the property's location, size, and condition. Homeowners in Mayfield can expect a tax bill that varies significantly based on these factors. For instance, the 25th percentile tax bill is $46, while the 75th percentile tax bill is $149. This range indicates the variability in property tax burdens among homeowners, with some paying significantly less or more than others. The national median property tax rate is 1.02%, translating to a median tax bill of $2400, which highlights the relatively lower tax burden in Mayfield.
Ownwell can assist homeowners in Mayfield by providing expert property tax appeal services. By reviewing and potentially contesting the assessed value of a property, Ownwell helps ensure that homeowners are not overpaying on their property taxes, ultimately leading to potential savings on their tax bills.
Median Mayfield Tax Bill
$80
Median Calloway County Tax Bill
$57
Median Kentucky Tax Bill
$1,031
Median United States Tax Bill
$2,400
Property Tax Bills Across Mayfield, Calloway County, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 42066 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell