Cerulean, Kentucky Property Taxes
The median property tax rate in Cerulean, KY is 0.80%, which is lower than both the national median of 0.99% and the Kentucky state median of 1.02%. With the median home value in Cerulean at $136,977, the typical annual property tax bill comes to $914, significantly below the national median of $2,690. Property taxes in Cerulean are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Cerulean'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 Cerulean 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
Cerulean, Kentucky Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.8%
Estimate Property Tax Bill
$1,096
Ownwell’s Cerulean Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Cerulean with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Cerulean 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 Cerulean, Kentucky
Property taxes in Cerulean, Kentucky, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Cerulean is 0.80%, which is lower than the U.S. national median of 0.99%. Local government entities within Cerulean set these rates annually, and they can vary significantly across different neighborhoods. Each year, Cerulean 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 Cerulean's effective property tax rate to other areas and the national median. For comparison, the zip code 42215 has the highest median property tax rate of 0.80%, while the same zip code also has the lowest median tax rate of 0.80%. Understanding how these areas compare with Cerulean provides valuable insights into the varying tax landscape across Christian County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Cerulean Tax Rate
0.80%
Average Christian County Tax Rate
0.78%
Average Kentucky Tax Rate
1.02%
Average United States Tax Rate
0.99%
Property Tax Rates Across Cerulean, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 42215 | 0.44% | 0.60% | 0.80% | 0.81% | 0.90% |
Source: Ownwell
Property Tax Assessment Values Across Cerulean, Kentucky
In Cerulean, 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 Christian 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 in Cerulean 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. The median home price in Cerulean is $136,977, with the 25th percentile tax bill at $496 and the 75th percentile at $1,438. Notably, the highest and lowest median tax bills both stand at $914 in the 42215 zip code. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Cerulean Assessed Value
$136,977
Average Christian County Assessed Value
$110,000
Average Kentucky Assessed Value
$110,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Cerulean, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 42215 | $24,371 | $70,000 | $136,977 | $195,000 | $315,022 |
Source: Ownwell
Property Tax Bills Across Cerulean, Kentucky
In Cerulean, Christian County, 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 then multiplied by the local tax rate to determine the annual tax bill. For homeowners in Cerulean, the median home price is $136,977, which serves as a baseline for calculating property taxes. Several factors influence the assessed value, including the property's size, location, and condition. Homeowners in Cerulean can expect tax bills to vary significantly. For example, at the 25th percentile, tax bills are around $496, while those in the 75th percentile reach $1,438, and the 90th percentile sees bills as high as $2,143. These property tax bills can have a substantial impact on homeowners, affecting monthly mortgage payments and overall affordability. Compared to the national median property tax rate of 0.99%, Cerulean's tax rates can lead to a wide range of tax bills, making it essential for homeowners to understand their specific assessed values and corresponding tax obligations.
Average Cerulean Tax Bill
$914
Average Christian County Tax Bill
$788
Average Kentucky Tax Bill
$1,031
Average United States Tax Bill
$2,690
Property Tax Bills Across Cerulean, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 42215 | $173 | $496 | $914 | $1,438 | $2,143 |
Source: Ownwell