Campbellsburg, Kentucky Property Taxes
The median property tax rate in Campbellsburg, KY is 1.02%, aligning with the Kentucky state median but slightly above the national median of 0.99%. With a median home value of $99,400 in Campbellsburg, the typical annual property tax bill is approximately $885, which is significantly lower than the national median of $2,690. Property taxes in Campbellsburg are based on the assessed value, which often falls below market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Campbellsburg's property tax system, exploring available exemptions, and identifying opportunities for reductions can result in substantial annual savings. Whether you're in the heart of Campbellsburg or another part of Carroll County, gaining insight into the local property tax system is beneficial for both homeowners and real estate investors.
Last Updated June 14, 2024
Campbellsburg, 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 Campbellsburg Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Campbellsburg with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Campbellsburg 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 Campbellsburg, Kentucky
Property taxes in Campbellsburg, Kentucky, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Campbellsburg is 0.78%, significantly lower than both the Kentucky state median of 0.83% and the U.S. national median of 0.99%. Local government entities within Campbellsburg set these rates annually, and they can vary across different neighborhoods. Each year, Campbellsburg 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 Campbellsburg's effective property tax rate to other counties in Kentucky and the national median. For comparison, ZIP code 40011 has both the highest and lowest median property tax rate in the area, standing at 0.78%. Understanding how these rates compare with Campbellsburg provides valuable insights into the varying tax landscape across Carroll County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Campbellsburg Tax Rate
1.02%
Average Carroll County Tax Rate
1.01%
Average Kentucky Tax Rate
1.02%
Average United States Tax Rate
0.99%
Property Tax Rates Across Campbellsburg, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 40011 | 0.41% | 0.73% | 1.02% | 1.04% | 1.07% |
Source: Ownwell
Property Tax Assessment Values Across Campbellsburg, Kentucky
In Campbellsburg, 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 Carroll 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 Campbellsburg, 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 Campbellsburg helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill is 40011, both at $885.
Average Campbellsburg Assessed Value
$99,400
Average Carroll County Assessed Value
$75,000
Average Kentucky Assessed Value
$110,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Campbellsburg, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 40011 | $41,920 | $59,000 | $99,400 | $154,900 | $188,400 |
Source: Ownwell
Property Tax Bills Across Campbellsburg, Kentucky
In Campbellsburg, property tax bills are calculated based on the assessed value of a home, which is determined by the local county assessor. The assessed value is a percentage of the market value of the property. Homeowners in Campbellsburg, Carroll County, typically see a median home price of $99,400. Property taxes are then applied to this assessed value using the local tax rate. Factors influencing the tax bill include the property's location, size, and any applicable exemptions or deductions. For instance, the tax bill at the 25th percentile is $506, while at the 75th percentile, it rises to $1,408. The highest median tax bill in the area is $885, which is also the lowest median tax bill, indicating a consistent rate within the zip code 40011. These property taxes directly impact homeowners by contributing to local services such as schools, infrastructure, and emergency services. Understanding these factors can help homeowners better anticipate their annual tax obligations and plan their finances accordingly.
Average Campbellsburg Tax Bill
$885
Average Carroll County Tax Bill
$704
Average Kentucky Tax Bill
$1,031
Average United States Tax Bill
$2,690
Property Tax Bills Across Campbellsburg, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 40011 | $277 | $506 | $885 | $1,408 | $1,986 |
Source: Ownwell