Carter County, Kentucky Property Taxes
The median property tax rate in Carter County is 0.86%, which is lower than both the national median of 0.99% and the Kentucky state median of 1.02%. With a median home value of $55,000 in Carter County, the typical annual property tax bill is $333, significantly below the national median of $2,690. Property taxes in Carter County are calculated based on the tax assessed value, often lower than the market value due to various property tax exemptions such as primary residence and agricultural exemptions. Understanding Carter County's specific property tax system, exploring available exemptions, and identifying opportunities for property tax reductions can provide significant annual savings. Whether you live in Grayson or another part of Carter County, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Carter County, Kentucky Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.86%
Estimate Property Tax Bill
$473
$439
Ownwell’s Carter County Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner to estimate their annual property taxes in Carter County with just 2 data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Carter County to estimate your property tax bill. This insight helps you understand potential tax liabilities. If you’d like to see trends on a city level, scroll down to navigate to a more local informational page. Your property assessed value is the value assigned to your property by your county for property tax calculations. Assessed value takes into account any exemptions you may have on your property.
Property Tax Rates Across Carter County, Kentucky
Property taxes in Carter County play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Carter County is 0.86%, which is lower than the U.S. national median of 0.99%. Local government entities within Carter County set these rates annually, and they can vary significantly between different areas within the county. Each year, Carter County estimates its required budget to maintain services for the upcoming fiscal year, and divides this budget by the total value of all taxable property in the jurisdiction, resulting in the property tax rate. Although tax rates and budgets are influenced by laws and voter input, this calculation forms the basic process for setting property tax rates. The following data compares Carter County's effective property tax rate with other counties in Kentucky and the national median. For comparison, the city of Grayson has one of the higher property tax rates in Kentucky at 0.86%, while the city of Morehead boasts one of the lowest at 0.70%. Analyzing how Carter County's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Carter County Tax Rate
0.86%
Average Kentucky Tax Rate
1.02%
Average United States Tax Rate
0.99%
Property Tax Rates Across Carter County, Kentucky
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Denton | 0.13% | 0.33% | 0.86% | 0.86% | 0.86% |
| Garrison | 0.20% | 0.27% | 0.74% | 0.86% | 0.86% |
| Grayson | 0.21% | 0.53% | 0.86% | 0.86% | 0.86% |
| Hitchins | 0.36% | 0.86% | 0.86% | 0.86% | 0.86% |
| Morehead | 0.24% | 0.57% | 0.70% | 0.78% | 0.86% |
| Olive Hill | 0.11% | 0.42% | 0.86% | 0.86% | 0.86% |
| Rush | 0.20% | 0.47% | 0.86% | 0.86% | 0.86% |
| Vanceburg | N/A | N/A | N/A | N/A | N/A |
| Webbville | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
Property Tax Assessment Values Across Carter County, Kentucky
In Carter County, understanding the difference between "market value" and "assessed value" is key to comprehending property taxes. The market value represents the price a willing buyer would pay to a willing seller in an open, competitive market, considering location, property condition, and current economic trends. For tax purposes, this value is estimated by the Carter County Appraisal District. The assessed value, however, 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. Assessment notices in Carter County are typically mailed in the spring, usually by the middle of April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By distinguishing between these valuation concepts, property owners can better navigate their tax responsibilities and understand how their property taxes are affected. In Carter County, the highest median tax bill is $500 in Vanceburg, while the lowest is $203 in Hitchins. Being aware of these valuation processes will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively.
Average Carter County Assessed Value
$55,000
Average Kentucky Assessed Value
$110,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Carter County, Kentucky
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Denton | $9,860 | $24,600 | $50,030 | $95,200 | $152,250 |
| Garrison | $7,000 | $33,000 | $79,500 | $100,000 | $145,000 |
| Grayson | $13,000 | $34,940 | $65,000 | $118,400 | $184,600 |
| Hitchins | $5,000 | $12,250 | $29,000 | $50,140 | $81,712 |
| Morehead | $5,000 | $25,460 | $49,280 | $84,700 | $136,440 |
| Olive Hill | $8,000 | $22,970 | $47,500 | $85,000 | $139,780 |
| Rush | $10,000 | $24,692 | $50,000 | $85,950 | $130,288 |
| Vanceburg | N/A | N/A | N/A | N/A | N/A |
| Webbville | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
Property Tax Bills Across Carter County, Kentucky
Property tax bills in Carter County, KY are calculated by multiplying the assessed value of a property by the local tax rate. The assessed value is determined by the county assessor and is typically a percentage of the property's market value. Factors that influence the assessed value include the property's location, size, and condition. In Carter County, the median home price is $55,000, which serves as a basis for calculating the tax bill. Homeowners in Carter County experience varying tax bills. For instance, the 25th percentile tax bill is $121, while the 75th percentile tax bill reaches $668. At the higher end, the 90th percentile tax bill is $1,227. The city of Vanceburg holds the highest median tax bill at $500, whereas Hitchins has the lowest at $203. These variations can significantly impact homeowners, as higher tax bills can increase the overall cost of homeownership, while lower tax bills can offer some financial relief.
Average Carter County Tax Bill
$333
Average Kentucky Tax Bill
$1,031
Average United States Tax Bill
$2,690
Property Tax Bills Across Carter County, Kentucky
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Denton | $40 | $118 | $279 | $482 | $825 |
| Garrison | $43 | $107 | $330 | $842 | $944 |
| Grayson | $60 | $169 | $422 | $828 | $1,422 |
| Hitchins | $43 | $81 | $203 | $385 | $611 |
| Morehead | $32 | $111 | $290 | $560 | $903 |
| Olive Hill | $31 | $86 | $259 | $527 | $991 |
| Rush | $43 | $138 | $302 | $575 | $948 |
| Vanceburg | N/A | N/A | N/A | N/A | N/A |
| Webbville | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell