Greenup County, Kentucky Property Taxes
The median property tax rate in Greenup County is 1.58%, 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 Greenup County at $65,000, the typical annual property tax bill reaches $857. Property taxes in Greenup 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 Greenup 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 Greenup or another part of Greenup County, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Greenup County, Kentucky Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.58%
Estimate Property Tax Bill
$1,027
$953
Ownwell’s Greenup County Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner to estimate their annual property taxes in Greenup County with just 2 data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Greenup 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 Greenup County, Kentucky
Property taxes in Greenup County play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Greenup County is 1.58%, which is higher than both the Kentucky state median and the U.S. national median of 0.99%. Local government entities within Greenup County set these rates annually, and they can vary significantly between different areas within the county. Each year, Greenup 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. For comparison, the city of Worthington has one of the higher property tax rates in Kentucky at 2.16%, while the city of Grayson boasts one of the lowest at 1.11%. Analyzing how Greenup County's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Greenup County Tax Rate
1.58%
Average Kentucky Tax Rate
1.02%
Average United States Tax Rate
0.99%
Property Tax Rates Across Greenup County, Kentucky
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Argillite | 0.50% | 0.87% | 1.60% | 1.60% | 1.61% |
| Ashland | 0.91% | 1.18% | 1.58% | 1.58% | 1.61% |
| Flatwoods | 0.45% | 1.02% | 1.58% | 1.58% | 1.58% |
| Garrison | 0.37% | 0.74% | 1.32% | 1.60% | 1.61% |
| Grayson | 0.41% | 0.76% | 1.11% | 1.60% | 1.61% |
| Greenup | 0.46% | 0.90% | 1.60% | 1.60% | 1.61% |
| Oldtown | N/A | N/A | N/A | N/A | N/A |
| Raceland | N/A | N/A | N/A | N/A | N/A |
| Russell | 0.67% | 1.05% | 1.58% | 1.85% | 1.95% |
| South Portsmouth | 0.46% | 0.98% | 1.60% | 1.60% | 1.61% |
| South Shore | 0.46% | 0.93% | 1.60% | 1.61% | 1.86% |
| Worthington | 0.54% | 1.26% | 2.16% | 2.16% | 2.16% |
| Wurtland | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
Property Tax Assessment Values Across Greenup County, Kentucky
In Greenup 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 Greenup 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 Greenup 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. For instance, Ashland has the highest median tax bill in the county at $2,352, while Raceland has the lowest at $296. Being aware of these valuation processes in Greenup County will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively.
Property Tax Assessment Values Across Greenup County, Kentucky
Source: Ownwell
$37,890
$111,042
$184,194
Average Greenup County Assessed Value
$65,000
Average Kentucky Assessed Value
$110,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Greenup County, Kentucky
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Argillite | $5,000 | $16,450 | $46,552 | $90,581 | $164,120 |
| Ashland | $64,000 | $110,000 | $169,680 | $250,000 | $369,100 |
| Flatwoods | $21,028 | $44,000 | $68,000 | $110,000 | $169,750 |
| Garrison | $4,000 | $11,675 | $37,890 | $82,175 | $140,900 |
| Grayson | $10,000 | $27,194 | $56,000 | $92,375 | $170,000 |
| Greenup | $7,000 | $23,000 | $53,857 | $96,025 | $164,505 |
| Oldtown | N/A | N/A | N/A | N/A | N/A |
| Raceland | N/A | N/A | N/A | N/A | N/A |
| Russell | $30,643 | $56,000 | $94,000 | $148,750 | $210,000 |
| South Portsmouth | $8,000 | $28,450 | $52,584 | $96,000 | $150,000 |
| South Shore | $8,000 | $24,572 | $50,000 | $87,979 | $151,170 |
| Worthington | $32,964 | $43,033 | $65,000 | $98,000 | $140,000 |
| Wurtland | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
Property Tax Bills Across Greenup County, Kentucky
Property tax bills in Greenup County, Kentucky, are determined based on the assessed value of a property, which is a percentage of its market value. Homeowners in Greenup County experience a wide range of property tax bills, reflecting the diversity in property values. For instance, the median home price in the county is $65,000. Tax bills can vary significantly, with the 25th percentile at $356 and the 75th percentile reaching $1,709. At the 90th percentile, tax bills can go up to $2,799. The highest median tax bill in the region is found in Ashland, at $2,352, while Raceland has the lowest median tax bill at $296. These variations are influenced by factors such as property location, size, and improvements. Compared to the national median property tax rate of 0.99%, Greenup County offers relatively affordable property taxes, making it an attractive option for homeowners. Understanding these factors can help residents anticipate their property tax obligations and manage their finances accordingly.
Average Greenup County Tax Bill
$857
Average Kentucky Tax Bill
$1,031
Average United States Tax Bill
$2,690
Property Tax Bills Across Greenup County, Kentucky
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Argillite | $72 | $185 | $562 | $1,223 | $2,288 |
| Ashland | $698 | $1,402 | $2,352 | $3,609 | $5,537 |
| Flatwoods | $143 | $446 | $928 | $1,598 | $2,502 |
| Garrison | $66 | $152 | $427 | $899 | $1,658 |
| Grayson | $143 | $288 | $562 | $1,138 | $2,023 |
| Greenup | $91 | $245 | $637 | $1,371 | $2,434 |
| Oldtown | N/A | N/A | N/A | N/A | N/A |
| Raceland | N/A | N/A | N/A | N/A | N/A |
| Russell | $333 | $665 | $1,337 | $2,326 | $3,401 |
| South Portsmouth | $100 | $261 | $628 | $1,337 | $2,227 |
| South Shore | $96 | $254 | $644 | $1,284 | $2,206 |
| Worthington | $273 | $621 | $1,188 | $2,001 | $2,946 |
| Wurtland | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell