White Plains, Kentucky Property Taxes
The median property tax rate in White Plains, KY is 0.44%, significantly lower than both the national median of 0.99% and the Kentucky state median of 1.02%. With a median home value of $145,780 in White Plains, the typical annual property tax bill amounts to $518, well below the national median of $2,690. Property taxes in White Plains are calculated based on the assessed value, which often falls below the market value due to exemptions like the primary residence and agricultural exemptions. Understanding White Plains' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of White Plains or another part of Christian County, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
White Plains, Kentucky Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.44%
Estimate Property Tax Bill
$641
Ownwell’s White Plains Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in White Plains with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in White Plains 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 White Plains, Kentucky
Property taxes in White Plains, Kentucky, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in White Plains is 0.44%, which is significantly lower than both the Kentucky state median and the U.S. national median of 0.99%. Local government entities within White Plains set these rates annually, and they can vary significantly across different neighborhoods. Each year, White Plains 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 White Plains' effective property tax rate to other counties in Kentucky and the national median. For comparison, the zip code 42464 has both the highest and lowest median property tax rate of 0.44%. Understanding how these cities compare with White Plains 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 White Plains Tax Rate
0.44%
Average Christian County Tax Rate
0.78%
Average Kentucky Tax Rate
1.02%
Average United States Tax Rate
0.99%
Property Tax Rates Across White Plains, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 42464 | 0.16% | 0.29% | 0.44% | 0.47% | 0.69% |
Source: Ownwell
Property Tax Assessment Values Across White Plains, Kentucky
In White Plains, 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. In White Plains, 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 White Plains helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $518 in zip code 42464, while the lowest is also $518 in the same zip code.
Average White Plains Assessed Value
$145,780
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 White Plains, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 42464 | $18,732 | $50,000 | $145,780 | $227,744 | $300,272 |
Source: Ownwell
Property Tax Bills Across White Plains, Kentucky
In White Plains, KY, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the Christian County property assessor and reflects the market value of the property. Homeowners in White Plains typically see property tax bills that vary significantly. For instance, tax bills in the 25th percentile are around $143, while those in the 75th percentile can reach up to $922, and the 90th percentile tax bills are about $1111. The median home price in White Plains is $145,780, which influences the overall tax bill. Compared to the national median property tax rate of 0.99%, the rates in White Plains can be relatively lower or higher depending on the specific property and its assessed value. These property taxes fund essential local services such as schools, public safety, and infrastructure, directly impacting the quality of life for homeowners. Understanding these factors can help homeowners anticipate their tax obligations and manage their finances more effectively.
Average White Plains Tax Bill
$518
Average Christian County Tax Bill
$788
Average Kentucky Tax Bill
$1,031
Average United States Tax Bill
$2,690
Property Tax Bills Across White Plains, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 42464 | $105 | $143 | $518 | $922 | $1,111 |
Source: Ownwell