Napoleon, Kentucky Property Taxes
The median property tax rate in Napoleon, KY is 0.84%, 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 Napoleon at $238,360, the typical annual property tax bill amounts to $1,918, falling below the national median of $2,690. Property taxes in Napoleon are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions such as the primary residence and agricultural exemptions. Understanding Napoleon'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 Napoleon or another part of Gallatin County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Napoleon, Kentucky Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.02%
Estimate Property Tax Bill
$2,040
Ownwell’s Napoleon Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Napoleon with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Napoleon 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 Napoleon, Kentucky
Property taxes in Napoleon, Kentucky, play a crucial role in funding essential local services, including public schools, road maintenance, and emergency services. The median tax rate in Napoleon is 0.84%, which is lower than the U.S. national median of 0.99%. Local government entities within Napoleon set these rates annually, and they can vary significantly across different neighborhoods. Each year, Napoleon 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 Napoleon's effective property tax rate to other regions in Kentucky and the national median. For comparison, the zip code 41095 has both the highest and lowest median property tax rate of 0.84%. Understanding how these areas compare with Napoleon provides valuable insights into the varying tax landscape across Gallatin County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Napoleon Tax Rate
0.84%
Average Gallatin County Tax Rate
1.07%
Average Kentucky Tax Rate
1.02%
Average United States Tax Rate
0.99%
Property Tax Rates Across Napoleon, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 41095 | 0.65% | 0.72% | 0.84% | 0.95% | 1.03% |
Source: Ownwell
Property Tax Assessment Values Across Napoleon, Kentucky
In Napoleon, 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 Gallatin 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 Napoleon, 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 Napoleon helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 41095, with a value of $1,918, which is consistent with the lowest median tax bill in the same zip code.
Average Napoleon Assessed Value
$238,360
Average Gallatin County Assessed Value
$84,300
Average Kentucky Assessed Value
$110,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Napoleon, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 41095 | $211,672 | $221,680 | $238,360 | $255,040 | $265,048 |
Source: Ownwell
Property Tax Bills Across Napoleon, Kentucky
In Napoleon, Kentucky, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. This assessed value is then multiplied by the local property tax rate to determine the annual tax bill. For homeowners in Napoleon, the median home price is $238,360. The tax bills in this area vary, with the 25th percentile tax bill being $1,778 and the 75th percentile reaching $2,058. The 90th percentile tax bill is $2,142, indicating that most homeowners pay within this range. Factors such as property improvements, market conditions, and neighborhood changes can influence the assessed value and, consequently, the tax bill. Homeowners in Napoleon should be aware that their annual tax obligation may fluctuate based on these assessments. Compared to the national median property tax rate of 0.99%, homeowners in Napoleon experience a diverse range of tax bills, reflecting the specific dynamics of their local real estate market.
Average Napoleon Tax Bill
$1,918
Average Gallatin County Tax Bill
$804
Average Kentucky Tax Bill
$1,031
Average United States Tax Bill
$2,690
Property Tax Bills Across Napoleon, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 41095 | $1,694 | $1,778 | $1,918 | $2,058 | $2,142 |
Source: Ownwell