Crittenden, Kentucky Property Taxes
The median property tax rate in Crittenden, KY is 1.11%, which is higher than both the national median of 0.99% and the Kentucky state median of 1.02%. With a median home value of $124,200 in Crittenden, the typical annual property tax bill amounts to $1,303, still below the national median of $2,690. Property taxes in Crittenden are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Crittenden'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 Crittenden 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
Crittenden, 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 Crittenden Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Crittenden with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Crittenden 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 Crittenden, Kentucky
Property taxes in Crittenden, Kentucky, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Crittenden is 0.77%, which is lower than both the Kentucky state median of 0.83% and the U.S. national median of 0.99%. Local government entities within Crittenden set these rates annually, and they can vary significantly across different neighborhoods. Each year, Crittenden 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 Crittenden's effective property tax rate to other counties in Kentucky and the national median. For comparison, the 41030 zip code has the highest median property tax rate of 0.77%, while the same zip code also has the lowest median tax rate of 0.77%. Understanding how these areas compare with Crittenden provides valuable insights into the varying tax landscape across Grant County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Crittenden Tax Rate
1.11%
Average Grant County Tax Rate
1.12%
Average Kentucky Tax Rate
1.02%
Average United States Tax Rate
0.99%
Property Tax Rates Across Crittenden, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 41030 | 0.69% | 0.89% | 1.11% | 1.17% | 1.60% |
Source: Ownwell
Property Tax Assessment Values Across Crittenden, Kentucky
In Crittenden, 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 local 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 Crittenden, 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 Crittenden 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 41030, with a tax bill of $1303.
Average Crittenden Assessed Value
$124,200
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 Crittenden, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 41030 | $20,000 | $70,000 | $124,200 | $170,000 | $230,000 |
Source: Ownwell
Property Tax Bills Across Crittenden, Kentucky
In Crittenden, KY, property tax bills are calculated based on the assessed value of the property, which is determined by the local assessor's office. This assessed value is then multiplied by the local property tax rate to determine the annual tax bill. In Crittenden, the median home price is $124,200. Homeowners in this area typically see a range of property tax bills, with the 25th percentile paying around $609 and the 75th percentile paying approximately $1,813. At the 90th percentile, the tax bill can go up to $2,398. Several factors influence the property tax bill, including property size, location, and any applicable exemptions. These taxes are crucial for funding local services such as schools, infrastructure, and emergency services. Compared to the national median property tax rate of 0.99%, Crittenden homeowners experience a varied range of tax bills, reflecting the diverse nature of property values and local tax rates. This variability can significantly impact homeowners' annual financial planning and overall cost of living.
Average Crittenden Tax Bill
$1,303
Average Grant County Tax Bill
$1,162
Average Kentucky Tax Bill
$1,031
Average United States Tax Bill
$2,690
Property Tax Bills Across Crittenden, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 41030 | $263 | $609 | $1,303 | $1,813 | $2,398 |
Source: Ownwell