Calhoun, Daviess County, Kentucky Property Taxes
The median property tax rate in Calhoun, KY is 1.04%, slightly higher than both the national median of 0.99% and the Kentucky state median of 1.02%. With the median home value in Calhoun at $40,750, the typical annual property tax bill reaches $271, which is significantly lower than the national median of $2,690. Property taxes in Calhoun 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 Calhoun'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 Calhoun 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
Calhoun, Daviess County, Kentucky Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.04%
Estimate Property Tax Bill
$424
$393
Ownwell’s Calhoun Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Calhoun with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Calhoun 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 Calhoun, Daviess County, Kentucky
Property taxes in Calhoun, Kentucky, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Calhoun is 0.58%, lower than both the Kentucky state median of 0.83% and the U.S. national median of 0.99%. Local government entities within Calhoun set these rates annually, and they can vary significantly across different neighborhoods. Each year, Calhoun 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 Calhoun's effective property tax rate to other counties in Kentucky and the national median. For comparison, the 42327 zip code has the highest median property tax rate of 0.58%, while the 42327 zip code also has the lowest median tax rate of 0.58%. Understanding how these cities compare with Calhoun provides valuable insights into the varying tax landscape across Daviess County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Calhoun Tax Rate
1.04%
Average Daviess County Tax Rate
0.81%
Average Kentucky Tax Rate
1.02%
Average United States Tax Rate
0.99%
Property Tax Rates Across Calhoun, Daviess County, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 42327 | 0.25% | 0.82% | 1.04% | 1.10% | 1.18% |
Source: Ownwell
Property Tax Assessment Values Across Calhoun, Daviess County, Kentucky
In Calhoun, 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 Daviess 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 Calhoun, 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 Calhoun helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Calhoun is $271 in zip code 42327.
Property Tax Assessment Values Across Calhoun, Daviess County, Kentucky
Source: Ownwell
$40,750
$79,425
$118,100
Average Calhoun Assessed Value
$40,750
Average Daviess County Assessed Value
$110,800
Average Kentucky Assessed Value
$110,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Calhoun, Daviess County, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 42327 | $5,000 | $16,125 | $40,750 | $71,525 | $168,350 |
Source: Ownwell
Property Tax Bills Across Calhoun, Daviess County, Kentucky
In Calhoun, KY, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by local government assessors who evaluate the property's market value. Homeowners in Calhoun can expect their property tax bill to vary significantly depending on their property's assessed value and the specific tax rate applied by Daviess County. For instance, the median home price in Calhoun is $40,750, and property tax bills range from $99 at the 25th percentile to $1,318 at the 90th percentile. Several factors influence the final tax bill, including property size, location, and any applicable exemptions. Compared to the national median property tax rate of 0.99%, Calhoun's property tax rates can be relatively modest. This can be beneficial for homeowners, as lower property tax bills can make homeownership more affordable. However, it is essential for homeowners to stay informed about their property assessments and any changes in local tax rates to manage their financial planning effectively.
Average Calhoun Tax Bill
$271
Average Daviess County Tax Bill
$710
Average Kentucky Tax Bill
$1,031
Average United States Tax Bill
$2,690
Property Tax Bills Across Calhoun, Daviess County, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 42327 | $31 | $99 | $271 | $727 | $1,318 |
Source: Ownwell