Pine Mountain, Kentucky Property Taxes
The median property tax rate in Pine Mountain, 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 Pine Mountain at $30,000, the typical annual property tax bill reaches $446, which is lower than the national median of $2,690. Property taxes in Pine Mountain 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 Pine Mountain'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 Pine Mountain or another part of Harlan County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Pine Mountain, Kentucky Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.35%
Estimate Property Tax Bill
$405
Ownwell’s Pine Mountain Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Pine Mountain with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Pine Mountain 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 Pine Mountain, Kentucky
Property taxes in Pine Mountain, Kentucky, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Pine Mountain is 1.35%, significantly higher than the U.S. national median of 0.99%. Local government entities within Pine Mountain set these rates annually, and they can vary across different neighborhoods. Each year, Pine Mountain 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 Pine Mountain's effective property tax rate to the national median. For comparison, the zip code 40810 has the highest median property tax rate of 1.35%, while the same zip code also holds the lowest median tax rate of 1.35%. Understanding how these areas compare with Pine Mountain 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 Pine Mountain 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 Pine Mountain, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 40810 | 1.25% | 1.35% | 1.35% | 1.35% | 1.35% |
Source: Ownwell
Property Tax Assessment Values Across Pine Mountain, Kentucky
In Pine Mountain, 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 Pine Mountain, 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 Pine Mountain helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Pine Mountain, the zip code 40810 has both the highest and lowest median tax bills, with a value of $446.
Property Tax Assessment Values Across Pine Mountain, Kentucky
Source: Ownwell
$9,250
$743,160
$1,477,070
Average Pine Mountain Assessed Value
$30,000
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 Pine Mountain, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 40810 | $8,000 | $20,000 | $30,000 | $37,250 | $59,500 |
Source: Ownwell
Property Tax Bills Across Pine Mountain, Kentucky
In Pine Mountain, KY, property tax bills are calculated based on the assessed value of a home. The local tax rate is applied to this assessed value to determine the annual tax bill. For homeowners in Pine Mountain, the median home price is $30,000. Depending on the property's assessed value, tax bills can vary significantly. For instance, tax bills at the 25th percentile are around $284, while those at the 75th percentile reach approximately $506. At the 90th percentile, tax bills can go up to $605. These tax bills directly impact homeowners by influencing their annual financial obligations. Compared to the national median property tax rate of 0.99%, Pine Mountain's tax rates are relatively moderate. However, even slight variations in assessed values can lead to noticeable differences in tax bills, affecting household budgets and long-term financial planning. Understanding these factors can help homeowners better manage their finances and anticipate future tax obligations.
Average Pine Mountain Tax Bill
$446
Average Harlan County Tax Bill
$386
Average Kentucky Tax Bill
$1,031
Average United States Tax Bill
$2,690
Property Tax Bills Across Pine Mountain, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 40810 | $238 | $284 | $446 | $506 | $605 |
Source: Ownwell