Worthville, Kentucky Property Taxes
The median property tax rate in Worthville, KY is 1.01%, slightly higher than the national median of 0.99% but just below the Kentucky state median of 1.02%. With a median home value of $28,550 in Worthville, the typical annual property tax bill amounts to $302, significantly lower than the national median of $2,690. Property taxes in Worthville are calculated based on the assessed value, which is often lower than the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Worthville's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Worthville or another part of Carroll County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Worthville, 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 Worthville Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Worthville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Worthville 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 Carroll County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Worthville, Kentucky
Property taxes in Worthville, Kentucky, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Worthville is 1.01%, higher than both the Kentucky state median and the U.S. national median of 0.99%. Local government entities within Worthville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Worthville 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 Worthville's effective property tax rate to other counties in Kentucky and the national median. For comparison, the 41098 zip code has the highest median property tax rate of 1.01%, while the 41098 zip code also has the lowest median tax rate of 1.01%. Understanding how these cities compare with Worthville 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 Worthville Tax Rate
1.01%
Average Carroll County Tax Rate
1.01%
Average Kentucky Tax Rate
1.02%
Average United States Tax Rate
0.99%
Property Tax Rates Across Worthville, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 41098 | 0.89% | 1.01% | 1.01% | 1.01% | 1.26% |
Source: Ownwell
Property Tax Assessment Values Across Worthville, Kentucky
In Worthville, 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 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 Worthville, 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 Worthville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code 41098 has the highest median tax bill at $302.
Average Worthville Assessed Value
$28,550
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 Worthville, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 41098 | $8,000 | $15,000 | $28,550 | $59,000 | $131,560 |
Source: Ownwell
Property Tax Bills Across Worthville, Kentucky
In Worthville, located in Carroll County, KY, property tax bills are calculated based on the assessed value of a home. The median home price in Worthville is $28,550. Property tax rates are applied to this assessed value to determine the tax bill. Factors such as property size, location, and improvements can influence the assessed value, which in turn affects the tax amount. Homeowners in Worthville experience a range of property tax bills. For instance, the 25th percentile tax bill is $132, while the 75th percentile tax bill is $628. At the higher end, the 90th percentile tax bill reaches $1,375. Comparatively, the national median property tax rate is 0.99%, placing Worthville's tax values in a unique context. The highest and lowest median tax bills in the area both stand at $302, specifically in zip code 41098. Understanding these factors helps homeowners anticipate their financial obligations and plan accordingly.
Average Worthville Tax Bill
$302
Average Carroll County Tax Bill
$704
Average Kentucky Tax Bill
$1,031
Average United States Tax Bill
$2,690
Property Tax Bills Across Worthville, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 41098 | $75 | $132 | $302 | $628 | $1,375 |
Source: Ownwell