Estill County Property Taxes
The median property tax rate in Estill County is 1.07%, which is slightly higher than both the national median of 0.99% and the Kentucky state median of 1.02%. With the median home value in Estill County, the typical annual property tax bill is $279, which is significantly lower than the national median of $2,690. Property taxes in Estill County are calculated based on the tax assessed value, which often falls below the actual market value due to various property tax exemptions such as those for primary residences and agricultural properties. Understanding Estill County's specific property tax system, exploring available exemptions, and identifying opportunities for property tax reductions can provide significant annual savings. Whether you live in Irvine or another part of Estill County, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Estill County Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.07%
Estimate Property Tax Bill
$375
Ownwell’s Estill County Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner to estimate their annual property taxes in Estill County with just 2 data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Estill County to estimate your property tax bill. This insight helps you understand potential tax liabilities. If you’d like to see trends on a city level, scroll down to navigate to a more local informational page. Your property assessed value is the value assigned to your property by your county for property tax calculations. Assessed value takes into account any exemptions you may have on your property.
Property Tax Rates Across Estill County, Kentucky
Property taxes in Estill County play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Estill County is 1.07%, which is higher than the U.S. national median of 0.99%. Local government entities within Estill County set these rates annually, and they can vary significantly between different areas within the county. Each year, Estill County estimates its required budget to maintain services for the upcoming fiscal year, and divides this budget by the total value of all taxable property in the jurisdiction, resulting in the property tax rate. Although tax rates and budgets are influenced by laws and voter input, this calculation forms the basic process for setting property tax rates. The following data compares Estill County's effective property tax rate with other counties in Kentucky and the national median. For comparison, the city of Berea has one of the higher property tax rates in Kentucky at 1.12%, while the city of Clay City boasts one of the lowest at 1.07%. Analyzing how Estill County's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Estill County Tax Rate
1.07%
Average Kentucky Tax Rate
1.02%
Average United States Tax Rate
0.99%
Property Tax Assessment Values Across Estill County, Kentucky
In Estill County, understanding the difference between "market value" and "assessed value" is key to comprehending property taxes. The market value represents the price a willing buyer would pay to a willing seller in an open, competitive market, considering location, property condition, and current economic trends. For tax purposes, this value is estimated by the Estill County Appraisal District. The assessed value, however, 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 Estill County are typically mailed in the spring, usually by the middle of April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By distinguishing between these valuation concepts, property owners can better navigate their tax responsibilities and understand how their property taxes are affected. The city of Berea has the highest median tax bill at $2,237, while Ravenna has the lowest at $247. Being aware of these valuation processes in Estill County will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively.
Average Estill County Assessed Value
$35,000
Average Kentucky Assessed Value
$110,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Estill County, Kentucky
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Berea | $199,000 | $199,000 | $199,000 | $199,000 | $199,000 |
| Clay City | $5,000 | $14,500 | $45,000 | $101,000 | $170,500 |
| Irvine | $2,670 | $9,000 | $35,000 | $80,000 | $140,000 |
| Mc Kee | $3,000 | $5,000 | $24,000 | $57,500 | $115,000 |
| Ravenna | $2,500 | $7,500 | $30,000 | $60,000 | $100,000 |
| Stanton | $1,500 | $3,000 | $10,000 | $67,375 | $111,870 |
| Waco | $16,400 | $26,000 | $42,000 | $51,992 | $57,987 |
Source: Ownwell
Property Tax Bills Across Estill County, Kentucky
In Estill County, KY, property tax bills are calculated based on the assessed value of a property, which is determined by the local assessor's office. The assessed value takes into account various factors such as the property's market value, location, and any improvements made. Homeowners in Estill County can expect a wide range of tax bills, influenced by these assessments. For instance, the 25th percentile tax bill is $75, while those in the 75th percentile face a tax bill of $741, and the 90th percentile sees bills as high as $1,428. Comparatively, the national median property tax rate is 0.99%, which can provide a benchmark for understanding local tax burdens. Cities within the county also show significant variation; Berea has the highest median tax bill at $2,237, while Ravenna has the lowest at $247. These variations highlight how local assessments and tax rates can significantly impact homeowners, making it crucial for property owners to stay informed about their specific tax obligations.
Average Estill County Tax Bill
$279
Average Kentucky Tax Bill
$1,031
Average United States Tax Bill
$2,690