Cunningham, Carlisle County, Kentucky Property Taxes
The median property tax rate in Cunningham, KY is 1.16%, which is considerably higher than both the national median of 0.99% and the Kentucky state median of 1.02%. With the median home value in Cunningham at $60,000, the typical annual property tax bill reaches $556, still below the national median of $2,690. Property taxes in Cunningham 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 Cunningham'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 Cunningham 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
Cunningham, Carlisle County, Kentucky Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.16%
Estimate Property Tax Bill
$696
$646
Ownwell’s Cunningham Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Cunningham with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Cunningham to estimate your property tax bill. This valuable tool provides clarity on potential tax liabilities. For those interested in more granular insights, additional localized information is available further down the page. Your property’s assessed value is determined by the county for tax calculations and considers any applicable exemptions.
Property Tax Rates Across Cunningham, Carlisle County, Kentucky
Property taxes in Cunningham, Kentucky, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Cunningham is 1.16%, higher than the U.S. national median of 0.99%. Local government entities within Cunningham set these rates annually, which can vary significantly across different neighborhoods. Each year, Cunningham 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 Cunningham's effective property tax rate to other areas in Kentucky and the national median. For comparison, the zip code 42035 has the highest median property tax rate of 1.16%, while the same zip code also has the lowest median tax rate of 1.16%. Understanding how these areas compare with Cunningham provides valuable insights into the varying tax landscape across Carlisle County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Cunningham Tax Rate
1.16%
Average Carlisle County Tax Rate
1.13%
Average Kentucky Tax Rate
1.02%
Average United States Tax Rate
0.99%
Property Tax Rates Across Cunningham, Carlisle County, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 42035 | 0.43% | 1.13% | 1.16% | 1.21% | 1.29% |
Source: Ownwell
Property Tax Assessment Values Across Cunningham, Carlisle County, Kentucky
In Cunningham, 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 Carlisle 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 Cunningham, 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 Cunningham helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 42035 has the highest and lowest median tax bill, both at $556.
Property Tax Assessment Values Across Cunningham, Carlisle County, Kentucky
Source: Ownwell
$38,000
$49,000
$60,000
Average Cunningham Assessed Value
$60,000
Average Carlisle County Assessed Value
$45,000
Average Kentucky Assessed Value
$110,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Cunningham, Carlisle County, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 42035 | $10,100 | $31,800 | $60,000 | $98,458 | $184,700 |
Source: Ownwell
Property Tax Bills Across Cunningham, Carlisle County, Kentucky
In Cunningham, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of its market value. The median home price in Cunningham is $60,000. Property taxes are then determined by applying the local tax rate to this assessed value. Various factors, including property size, location, and improvements, influence the assessed value. For homeowners, the tax bill can vary significantly. For instance, the 25th percentile tax bill is $245, indicating that 25% of homeowners pay less than this amount. On the other hand, the 75th percentile tax bill is $1,154, and the 90th percentile tax bill reaches $2,188, showing a wide range in property tax obligations. The median tax bill in Cunningham's zip code 42035 is $556, which is considerably lower than the national median property tax rate of 0.99%. This variability in tax bills affects homeowners differently, impacting their annual financial planning and overall cost of homeownership.
Average Cunningham Tax Bill
$556
Average Carlisle County Tax Bill
$416
Average Kentucky Tax Bill
$1,031
Average United States Tax Bill
$2,690
Property Tax Bills Across Cunningham, Carlisle County, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 42035 | $112 | $245 | $556 | $1,154 | $2,188 |
Source: Ownwell