Mary Alice, Harlan County, Kentucky Property Taxes
The median property tax rate in Mary Alice, 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 Mary Alice, the typical annual property tax bill reaches $180, which is notably lower than the national median of $2,690. Property taxes in Mary Alice 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 Mary Alice'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 Mary Alice 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
Mary Alice, Harlan County, Kentucky Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.35%
Estimate Property Tax Bill
$194
$180
Ownwell’s Mary Alice Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Mary Alice with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Mary Alice 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 Mary Alice, Harlan County, Kentucky
Property taxes in Mary Alice, Kentucky, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Mary Alice is 1.35%, significantly higher than both the Kentucky state median and the U.S. national median of 0.99%. Local government entities within Mary Alice set these rates annually, and they can vary significantly across different neighborhoods. Each year, Mary Alice 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 Mary Alice's effective property tax rate to other counties in Kentucky and the national median. For comparison, the 40964 zip code has the highest median property tax rate of 1.35%, while the same zip code also has the lowest median tax rate of 1.35%. Understanding how these cities compare with Mary Alice 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 Mary Alice 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 Mary Alice, Harlan County, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 40964 | 1.15% | 1.35% | 1.35% | 1.35% | 1.35% |
Source: Ownwell
Property Tax Assessment Values Across Mary Alice, Harlan County, Kentucky
In Mary Alice, 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 Mary Alice, 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. The median home price in Mary Alice is $14,400, with tax bills ranging from $113 at the 25th percentile to $819 at the 90th percentile. The zip code 40964 has both the highest and lowest median tax bill at $180. Being aware of these valuation processes in Mary Alice helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Mary Alice, Harlan County, Kentucky
Source: Ownwell
$9,250
$27,625
$46,000
Average Mary Alice Assessed Value
$14,400
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 Mary Alice, Harlan County, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 40964 | $6,000 | $8,550 | $14,400 | $37,000 | $65,000 |
Source: Ownwell
Property Tax Bills Across Mary Alice, Harlan County, Kentucky
In Mary Alice, KY, property tax bills are calculated based on the assessed value of your home and the local property tax rate. The median home price in Mary Alice is $14,400, which is significantly lower than the national median. This lower home value results in generally lower property tax bills for homeowners. The tax bill can vary widely, with the 25th percentile at $113 and the 75th percentile reaching $422. For those in the 90th percentile, the tax bill can be as high as $819. The assessed value of a property is determined by the county assessor, who considers factors such as the property's market value, location, and any improvements made. These assessments are crucial as they directly influence the amount homeowners have to pay. Compared to the national median property tax rate of 0.99%, the property tax in Mary Alice can be seen as relatively manageable, easing the financial burden on homeowners in the area.
Average Mary Alice Tax Bill
$180
Average Harlan County Tax Bill
$386
Average Kentucky Tax Bill
$1,031
Average United States Tax Bill
$2,690
Property Tax Bills Across Mary Alice, Harlan County, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 40964 | $81 | $113 | $180 | $422 | $819 |
Source: Ownwell