Ages Brookside, Harlan County, Kentucky Property Taxes
The median property tax rate in Ages Brookside, KY is 1.35%, considerably higher than both the national median of 0.99% and the Kentucky state median of 1.02%. With the median home value in Ages Brookside, the typical annual property tax bill reaches $243, which is significantly lower than the national median of $2,690. Property taxes in Ages Brookside are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Ages Brookside'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 Ages Brookside 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
Ages Brookside, Harlan County, Kentucky Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.35%
Estimate Property Tax Bill
$463
$430
Ownwell’s AGES BROOKSIDE Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in AGES BROOKSIDE with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in AGES BROOKSIDE 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 Ages Brookside, Harlan County, Kentucky
Property taxes in Ages Brookside, Kentucky, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Ages Brookside is 1.35%, significantly higher than both the Kentucky state median and the U.S. national median of 0.99%. Local government entities within Ages Brookside set these rates annually, and they can vary significantly across different neighborhoods. Each year, Ages Brookside 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 Ages Brookside's effective property tax rate to other areas in Kentucky and the national median. For comparison, the zip code 40801 has both the highest and lowest median property tax rate of 1.35%. Understanding how these areas compare with Ages Brookside provides valuable insights into the varying tax landscape across Harlan County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Ages Brookside Tax Rate
1.35%
Average Harlan County Tax Rate
1.35%
Average Kentucky Tax Rate
1.02%
Average United States Tax Rate
0.99%
Property Tax Rates Across Ages Brookside, Harlan County, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 40801 | 0.63% | 1.35% | 1.35% | 1.35% | 1.35% |
Source: Ownwell
Property Tax Assessment Values Across Ages Brookside, Harlan County, Kentucky
In AGES BROOKSIDE, 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 Harlan 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 AGES BROOKSIDE, 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 AGES BROOKSIDE helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $243 in the 40801 zip code, while the lowest is also $243 in the same zip code.
Property Tax Assessment Values Across Ages Brookside, Harlan County, Kentucky
Source: Ownwell
$9,250
$27,625
$46,000
Average Ages Brookside Assessed Value
$34,300
Average Harlan County Assessed Value
$35,000
Average Kentucky Assessed Value
$110,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Ages Brookside, Harlan County, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 40801 | $6,000 | $13,125 | $34,300 | $39,300 | $68,170 |
Source: Ownwell
Property Tax Bills Across Ages Brookside, Harlan County, Kentucky
In Ages Brookside, located in Harlan County, KY, property tax bills are calculated based on the assessed value of a home. The median home price in this city is $34,300, which serves as the basis for determining the tax bill. Local tax authorities assess properties to establish their taxable value, which is then multiplied by the local tax rate to calculate the annual tax bill. Several factors influence the assessed value, including the property's size, location, and market conditions. Homeowners in Ages Brookside can expect their tax bills to vary significantly. For example, at the 25th percentile, the tax bill is $149, while at the 75th percentile, it rises to $516. The top 10% of property tax bills can reach as high as $843. These tax bills impact homeowners by contributing to local services such as schools, infrastructure, and emergency services. Compared to the national median property tax rate of 0.99%, the tax rates in Ages Brookside are relatively modest, providing some financial relief to homeowners.
Average Ages Brookside Tax Bill
$243
Average Harlan County Tax Bill
$386
Average Kentucky Tax Bill
$1,031
Average United States Tax Bill
$2,690
Property Tax Bills Across Ages Brookside, Harlan County, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 40801 | $58 | $149 | $243 | $516 | $843 |
Source: Ownwell