Sextons Creek, Clay County, Kentucky Property Taxes
The median property tax rate in Sextons Creek, KY is 0.51%, significantly lower than both the national median of 0.99% and the Kentucky state median of 1.02%. With the median home value in Sextons Creek at $40,500, the typical annual property tax bill is $256, well below the national median of $2,690. Property taxes in Sextons Creek are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Sextons Creek'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 Sextons Creek or another part of Clay County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Sextons Creek, Clay County, Kentucky Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.51%
Estimate Property Tax Bill
$207
$192
Ownwell’s Sextons Creek Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Sextons Creek with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Sextons Creek 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 Sextons Creek, Clay County, Kentucky
Property taxes in Sextons Creek, Kentucky, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Sextons Creek is 0.51%, notably lower than both the Kentucky state median and the U.S. national median of 0.99%. Local government entities within Sextons Creek set these rates annually, and they can vary significantly across different neighborhoods. Each year, Sextons Creek 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 Sextons Creek's effective property tax rate to other counties in Kentucky and the national median. For comparison, the 40983 zip code has both the highest and lowest median property tax rate of 0.51%. Understanding how these cities compare with Sextons Creek provides valuable insights into the varying tax landscape across Clay County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Sextons Creek Tax Rate
0.51%
Average Clay County Tax Rate
1.18%
Average Kentucky Tax Rate
1.02%
Average United States Tax Rate
0.99%
Property Tax Rates Across Sextons Creek, Clay County, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 40983 | 0.22% | 0.41% | 0.51% | 1.18% | 1.18% |
Source: Ownwell
Property Tax Assessment Values Across Sextons Creek, Clay County, Kentucky
In Sextons Creek, 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 Clay County Property Valuation Administrator 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 Sextons Creek 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 Sextons Creek helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both found in the 40983 zip code, each amounting to $256.
Property Tax Assessment Values Across Sextons Creek, Clay County, Kentucky
Source: Ownwell
$39,000
$49,050
$59,100
Average Sextons Creek Assessed Value
$40,500
Average Clay County Assessed Value
$40,500
Average Kentucky Assessed Value
$110,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Sextons Creek, Clay County, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 40983 | $12,720 | $35,400 | $40,500 | $70,500 | $100,100 |
Source: Ownwell
Property Tax Bills Across Sextons Creek, Clay County, Kentucky
In Sextons Creek, located in Clay County, KY, property tax bills are calculated based on the assessed value of a property. The assessment process involves determining the market value of a home, which is then used as the basis for the tax calculation. Several factors influence the assessed value, including the property’s location, size, and condition. Once the assessed value is established, the local tax rate is applied to determine the annual tax bill. For homeowners in Sextons Creek, property tax bills can vary significantly. The 25th percentile tax bill is $142, while the 75th percentile tax bill reaches $448. At the 90th percentile, homeowners may see tax bills as high as $609. Compared to the national median property tax rate of 0.99%, Sextons Creek offers relatively affordable property taxes. The highest median tax bill in the area is $256, which is notably lower than many other regions. This affordability can make homeownership more accessible and manageable for residents in Sextons Creek.
Average Sextons Creek Tax Bill
$256
Average Clay County Tax Bill
$348
Average Kentucky Tax Bill
$1,031
Average United States Tax Bill
$2,690
Property Tax Bills Across Sextons Creek, Clay County, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 40983 | $74 | $142 | $256 | $448 | $609 |
Source: Ownwell