Grant County, Kentucky Property Taxes
The median property tax rate in Grant County is 1.12%, which is significantly higher than both the national median of 0.99% and the Kentucky state median of 1.02%. With the median home value in Grant County at $114,000, the typical annual property tax bill reaches $1,162, which is still below the national median of $2,690. Property taxes in Grant County are calculated based on the tax assessed value, which generally falls below the actual market value due to various property tax exemptions like the primary residence and agricultural exemptions. Understanding Grant 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 Williamstown or another part of Grant County, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Grant County, Kentucky Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.12%
Estimate Property Tax Bill
$1,277
$1,185
Ownwell’s Grant County Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner to estimate their annual property taxes in Grant County with just two data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Grant 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 Grant County, Kentucky
Property taxes in Grant County play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Grant County is 1.12%, which is higher than both the Kentucky state median and the U.S. national median of 0.99%. Local government entities within Grant County set these rates annually, and they can vary significantly between different areas within the county. Each year, Grant 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 Grant County's effective property tax rate with other counties in Kentucky and the national median. For comparison, the city of Verona has one of the higher property tax rates in Kentucky at 1.24%, while the city of Warsaw boasts one of the lowest at 0.62%. Analyzing how Grant County's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Grant County Tax Rate
1.12%
Average Kentucky Tax Rate
1.02%
Average United States Tax Rate
0.99%
Property Tax Rates Across Grant County, Kentucky
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Berry | 0.50% | 0.79% | 1.12% | 1.21% | 1.29% |
| Corinth | 0.53% | 1.06% | 1.17% | 1.37% | 1.89% |
| Crittenden | 0.69% | 0.89% | 1.11% | 1.17% | 1.60% |
| Dry Ridge | 0.71% | 1.04% | 1.11% | 1.19% | 1.75% |
| Glencoe | 0.62% | 0.85% | 1.17% | 1.27% | 1.53% |
| Jonesville | 0.65% | 0.90% | 1.19% | 1.32% | 1.53% |
| Verona | 0.63% | 0.89% | 1.24% | 1.29% | 1.41% |
| Warsaw | N/A | N/A | N/A | N/A | N/A |
| Williamstown | 0.68% | 1.06% | 1.17% | 1.38% | 1.44% |
Source: Ownwell
Property Tax Assessment Values Across Grant County, Kentucky
In Grant 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 Grant 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 Grant 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. Grant County has a median home price of $114,000, with tax bills ranging from $544 at the 25th percentile to $2,486 at the 90th percentile. Among the cities, Crittenden has the highest median tax bill at $1,303, while Warsaw has the lowest at $530. By distinguishing between these valuation concepts, property owners can better navigate their tax responsibilities and understand how their property taxes are affected. Being aware of these valuation processes in Grant County will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively.
Average Grant County Assessed Value
$114,000
Average Kentucky Assessed Value
$110,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Grant County, Kentucky
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Berry | $40,500 | $64,625 | $89,800 | $139,525 | $179,680 |
| Corinth | $10,000 | $34,000 | $67,200 | $109,900 | $160,900 |
| Crittenden | $20,000 | $70,000 | $124,200 | $170,000 | $230,000 |
| Dry Ridge | $12,000 | $57,525 | $120,000 | $170,000 | $239,770 |
| Glencoe | $15,840 | $56,450 | $88,000 | $132,250 | $184,200 |
| Jonesville | $14,500 | $42,750 | $70,100 | $116,300 | $145,800 |
| Verona | $9,620 | $37,250 | $88,500 | $125,000 | $154,780 |
| Warsaw | N/A | N/A | N/A | N/A | N/A |
| Williamstown | $27,000 | $65,000 | $111,400 | $169,225 | $239,730 |
Source: Ownwell
Property Tax Bills Across Grant County, Kentucky
Property tax bills in Grant County, KY, are calculated based on the assessed value of a property, which is determined by the local assessor's office. The tax rate in this county can fluctuate, but it typically aligns closely with the state guidelines. For example, the median home price in Grant County is $114,000, and property tax bills can vary significantly. At the 25th percentile, homeowners might pay around $544, while those at the 75th percentile could see bills as high as $1,780. For the top 10% of properties, tax bills can reach up to $2,486. Several factors influence these amounts, including the property's assessed value and any applicable exemptions or deductions. Compared to the national median property tax rate of 0.99%, Grant County offers a relatively moderate tax burden. This variation in tax bills affects homeowners differently, depending on their property's valuation and the specific tax rates applied by local authorities. In cities within Grant County, such as Crittenden and Warsaw, median tax bills can range from $530 to $1,303, reflecting the diverse economic landscape of the area.
Average Grant County Tax Bill
$1,162
Average Kentucky Tax Bill
$1,031
Average United States Tax Bill
$2,690
Property Tax Bills Across Grant County, Kentucky
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Berry | $268 | $526 | $934 | $1,410 | $1,925 |
| Corinth | $139 | $309 | $685 | $1,148 | $1,726 |
| Crittenden | $263 | $609 | $1,303 | $1,813 | $2,398 |
| Dry Ridge | $209 | $547 | $1,214 | $1,780 | $2,480 |
| Glencoe | $278 | $492 | $853 | $1,272 | $1,919 |
| Jonesville | $133 | $468 | $688 | $1,005 | $1,619 |
| Verona | $134 | $433 | $628 | $1,263 | $1,594 |
| Warsaw | N/A | N/A | N/A | N/A | N/A |
| Williamstown | $249 | $626 | $1,250 | $1,974 | $2,734 |
Source: Ownwell