Harlan, Kentucky Property Taxes
The median property tax rate in Harlan, KY is 0.80%, 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 Harlan at $45,500, the typical annual property tax bill is $437, significantly below the national median of $2,690. Property taxes in Harlan are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Harlan'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 Harlan or another part of the county, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Harlan, 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 Harlan Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Harlan with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Harlan 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 Harlan, Kentucky
Property taxes in Harlan, Kentucky, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Harlan is 0.80%, which is lower than the U.S. national median of 0.99%. Local government entities within Harlan set these rates annually, and they can vary significantly across different neighborhoods. Each year, Harlan 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. For comparison, the zip code 40831 has both the highest and lowest median property tax rate of 0.80%. Understanding how these areas compare with Harlan 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 Harlan Tax Rate
0.80%
Average Harlan County Tax Rate
1.35%
Average Kentucky Tax Rate
1.02%
Average United States Tax Rate
0.99%
Property Tax Rates Across Harlan, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 40831 | 0.44% | 0.80% | 0.80% | 1.35% | 1.35% |
Source: Ownwell
Property Tax Assessment Values Across Harlan, Kentucky
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Harlan, Kentucky. 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 Harlan, 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. The median home price in Harlan is $45,500, and tax bills can vary widely. For example, the 25th percentile tax bill is $200, while the 75th percentile tax bill is $892, and the 90th percentile tax bill reaches $1,670. The highest and lowest median tax bills are both $437, found in zip code 40831. By understanding these valuation concepts, property owners can better navigate their tax responsibilities, identify opportunities for protesting assessments, or apply for exemptions to effectively manage the tax burden.
Average Harlan Assessed Value
$45,500
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 Harlan, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 40831 | $10,000 | $24,500 | $45,500 | $89,725 | $157,000 |
Source: Ownwell
Property Tax Bills Across Harlan, Kentucky
In Harlan, KY, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. This assessed value is then multiplied by the local tax rate to calculate the annual tax bill. For homeowners in Harlan, the median home price is $45,500. The tax bills in this area vary significantly, with the 25th percentile tax bill being $200 and the 75th percentile reaching $892. At the 90th percentile, homeowners might see tax bills as high as $1,670. These property taxes play a crucial role in funding local services such as schools, public safety, and infrastructure. Compared to the national median property tax rate of 0.99%, Harlan's tax rates can seem relatively modest, but they still pose a significant financial consideration for homeowners. Understanding these factors can help residents better prepare for their annual property tax obligations and manage their household budgets more effectively.
Average Harlan Tax Bill
$437
Average Harlan County Tax Bill
$386
Average Kentucky Tax Bill
$1,031
Average United States Tax Bill
$2,690
Property Tax Bills Across Harlan, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 40831 | $80 | $200 | $437 | $892 | $1,670 |
Source: Ownwell