Rush, Carter County, Kentucky Property Taxes
The median property tax rate in Rush, KY 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 $50,000 in Rush, the typical annual property tax bill amounts to $302, significantly below the national median of $2,690. Property taxes in Rush are calculated based on the tax assessed value, which often falls below the market value due to exemptions such as primary residence and agricultural exemptions. Understanding Rush'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 Rush 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
Rush, Carter County, Kentucky Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.86%
Estimate Property Tax Bill
$430
$399
Ownwell’s RUSH Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in RUSH with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in RUSH 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 Rush, Carter County, Kentucky
Property taxes in Rush, Kentucky, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Rush is 0.86%, which is lower than the U.S. national median of 0.99%. Local government entities within Rush set these rates annually, and they can vary significantly across different neighborhoods. Each year, Rush 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 Rush's effective property tax rate to other areas in Kentucky and the national median. For comparison, the zip code 41168 has the highest median property tax rate of 0.86%, while the lowest median tax rate is also 0.86% in the same zip code. Understanding how these areas compare with Rush provides valuable insights into the varying tax landscape across Carter County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Rush Tax Rate
0.86%
Average Carter County Tax Rate
0.86%
Average Kentucky Tax Rate
1.02%
Average United States Tax Rate
0.99%
Property Tax Rates Across Rush, Carter County, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 41168 | 0.20% | 0.47% | 0.86% | 0.86% | 0.86% |
Source: Ownwell
Property Tax Assessment Values Across Rush, Carter County, Kentucky
In RUSH, 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 Carter 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. 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 RUSH helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In RUSH, the highest and lowest median tax bills are both $302.00 in the 41168 zip code.
Property Tax Assessment Values Across Rush, Carter County, Kentucky
Source: Ownwell
$29,000
$54,250
$79,500
Average Rush Assessed Value
$50,000
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 Rush, Carter County, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 41168 | $10,000 | $24,692 | $50,000 | $85,950 | $130,288 |
Source: Ownwell
Property Tax Bills Across Rush, Carter County, Kentucky
In RUSH, KY, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The assessed value is a percentage of the home's market value. Factors such as property location, size, and condition are considered during the assessment. In Carter County, where RUSH is located, the median home price is $50,000. Homeowners in this area can expect varying tax bills depending on their property's assessed value. For example, the 25th percentile tax bill is $138, while the 75th percentile reaches $575, and the 90th percentile can be as high as $948. The highest and lowest median tax bills in the area are both $302, which is significantly lower than the national median property tax rate of 0.99%. These property tax bills directly impact homeowners by influencing their overall housing costs. Lower tax rates can make homeownership more affordable, while higher rates might require more careful financial planning.
Average Rush Tax Bill
$302
Average Carter County Tax Bill
$333
Average Kentucky Tax Bill
$1,031
Average United States Tax Bill
$2,690
Property Tax Bills Across Rush, Carter County, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 41168 | $43 | $138 | $302 | $575 | $948 |
Source: Ownwell