Bellevue, Kentucky Property Taxes
The median property tax rate in Bellevue, KY is 1.35%, considerably higher than both the national median of 0.99% and the Kentucky state median of 1.02%. With the median home value in Bellevue at $120,000, the typical annual property tax bill reaches $1,521, exceeding the national median of $2,690. Property taxes in Bellevue are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Bellevue'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 Bellevue or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Bellevue, 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 Bellevue Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Bellevue with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Bellevue 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 Bellevue, Kentucky
Property taxes in Bellevue, Kentucky, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Bellevue is 1.35%, higher than the U.S. national median of 0.99%. Local government entities within Bellevue set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bellevue 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 Bellevue's effective property tax rate to other counties in Kentucky and the national median. For comparison, the 41073 zip code has both the highest and lowest median property tax rate of 1.35%. Understanding how these cities compare with Bellevue provides valuable insights into the varying tax landscape across Campbell County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bellevue Tax Rate
1.35%
Average Campbell County Tax Rate
1.05%
Average Kentucky Tax Rate
1.02%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bellevue, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 41073 | 0.79% | 1.35% | 1.35% | 1.35% | 1.35% |
| 41074 | 1.35% | 1.35% | 1.35% | 1.35% | 1.35% |
Source: Ownwell
Property Tax Assessment Values Across Bellevue, Kentucky
In Bellevue, 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 Campbell 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 Bellevue, 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. Bellevue homeowners face varying tax burdens, with the highest median tax bill of $1,787 in zip code 41074 and the lowest median tax bill of $1,520 in zip code 41073. 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 Bellevue helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Bellevue Assessed Value
$120,000
Average Campbell County Assessed Value
$157,900
Average Kentucky Assessed Value
$110,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bellevue, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 41073 | $72,510 | $89,275 | $120,000 | $168,425 | $238,980 |
| 41074 | $87,560 | $91,700 | $132,000 | $142,450 | $145,000 |
Source: Ownwell
Property Tax Bills Across Bellevue, Kentucky
In Bellevue, KY, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The median home price in Bellevue is $120,000, and the property tax rate in Campbell County is applied to this assessed value to calculate the annual tax bill. Factors such as the home's location, size, and improvements can influence its assessed value. For homeowners in Bellevue, property tax bills can vary significantly. For instance, the tax bill at the 25th percentile is $1,072, while at the 75th percentile, it rises to $2,207. Those at the 90th percentile can expect a tax bill of $3,182. The highest median tax bill in the area is $1,787, found in zip code 41074, whereas the lowest is $1,520 in zip code 41073. Comparatively, the national median property tax rate is 0.99%, which provides a useful benchmark for understanding local tax burdens. These taxes play a crucial role in funding public services, affecting overall community quality and homeowner expenses.
Average Bellevue Tax Bill
$1,521
Average Campbell County Tax Bill
$1,294
Average Kentucky Tax Bill
$1,031
Average United States Tax Bill
$2,690
Property Tax Bills Across Bellevue, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 41073 | $669 | $1,070 | $1,520 | $2,210 | $3,182 |
| 41074 | $1,186 | $1,242 | $1,787 | $1,929 | $1,963 |
Source: Ownwell