Roundhill, Kentucky Property Taxes
The median property tax rate in Roundhill, KY is 0.92%, 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 Roundhill being $52,550, the typical annual property tax bill amounts to $384, significantly below the national median of $2,690. Property taxes in Roundhill are calculated based on the assessed value, which often falls below the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Roundhill'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 Roundhill or another part of Edmonson County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Roundhill, Kentucky Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.92%
Estimate Property Tax Bill
$483
Ownwell’s Roundhill Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Roundhill with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Roundhill 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 Roundhill, Kentucky
Property taxes in Roundhill, Kentucky, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Roundhill is 0.92%, slightly lower than the U.S. national median of 0.99%. Local government entities within Roundhill set these rates annually, and they can vary significantly across different neighborhoods. Each year, Roundhill 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 Roundhill's effective property tax rate to other areas in Edmonson County and the national median. For comparison, the zip code 42275 has both the highest and lowest median property tax rate in Edmonson County at 0.92%. Understanding how these cities compare with Roundhill provides valuable insights into the varying tax landscape across Edmonson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Roundhill Tax Rate
0.92%
Average Edmonson County Tax Rate
0.91%
Average Kentucky Tax Rate
1.02%
Average United States Tax Rate
0.99%
Property Tax Rates Across Roundhill, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 42275 | 0.24% | 0.59% | 0.92% | 0.99% | 1.10% |
Source: Ownwell
Property Tax Assessment Values Across Roundhill, Kentucky
In Roundhill, 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 Edmonson 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 Roundhill, 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 Roundhill helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Roundhill are both $384.00, found in zip code 42275.
Average Roundhill Assessed Value
$52,550
Average Edmonson County Assessed Value
$80,500
Average Kentucky Assessed Value
$110,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Roundhill, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 42275 | $15,200 | $30,000 | $52,550 | $95,000 | $132,140 |
Source: Ownwell
Property Tax Bills Across Roundhill, Kentucky
In Roundhill, located in Edmonson County, KY, property tax bills are calculated based on the assessed value of a home and the local tax rate. The median home price in Roundhill is $52,550. Property taxes are determined by multiplying the assessed value of the property by the local tax rate. For example, if your home is assessed at the median price, your tax bill will be a percentage of that value. Several factors influence the tax bill, including property size, location, and any applicable exemptions. Homeowners in Roundhill can expect tax bills to vary widely. The 25th percentile tax bill is around $197, while the 75th percentile tax bill reaches approximately $778. For those in the 90th percentile, the tax bill can be as high as $1,063. Comparatively, the highest and lowest median tax bills in the area are both $384, showcasing some consistency in certain neighborhoods. Understanding these factors helps homeowners anticipate their annual property tax expenses, which can significantly impact their financial planning.
Average Roundhill Tax Bill
$384
Average Edmonson County Tax Bill
$643
Average Kentucky Tax Bill
$1,031
Average United States Tax Bill
$2,690
Property Tax Bills Across Roundhill, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 42275 | $90 | $197 | $384 | $778 | $1,063 |
Source: Ownwell