Campbellsburg, Kentucky Property Taxes
The median property tax rate in Campbellsburg, KY is 1.15%, noticeably higher than both the national median of 0.99% and the Kentucky state median of 1.02%. With the median home value in Campbellsburg at $115,500, the typical annual property tax bill reaches $1,187, which is below the national median of $2,690. Property taxes in Campbellsburg are calculated based on the tax assessed value, which usually falls below the market value due to various exemptions, such as the primary residence and agricultural exemptions. Understanding Campbellsburg'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 Campbellsburg 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
Campbellsburg, Kentucky Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.15%
Estimate Property Tax Bill
$1,328
-$13,920
Ownwell’s Campbellsburg Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Campbellsburg with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Campbellsburg 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 Campbellsburg, Kentucky
Property taxes in Campbellsburg, Kentucky, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Campbellsburg is 1.15%, higher than both the Kentucky state median and the U.S. national median of 0.99%. Local government entities within Campbellsburg set these rates annually, and they can vary significantly across different neighborhoods. Each year, Campbellsburg 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 Campbellsburg's effective property tax rate to other counties in Kentucky and the national median. For comparison, the 40011 zip code has the highest median property tax rate of 1.15%, while the 40011 zip code also has the lowest median tax rate of 1.15%. Understanding how these cities compare with Campbellsburg provides valuable insights into the varying tax landscape across Henry County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Campbellsburg Tax Rate
1.15%
Average Henry County Tax Rate
1.15%
Average Kentucky Tax Rate
1.02%
Average United States Tax Rate
0.99%
Property Tax Rates Across Campbellsburg, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 40011 | 0.70% | 1.00% | 1.15% | 1.19% | 1.23% |
Source: Ownwell
Property Tax Assessment Values Across Campbellsburg, Kentucky
In Campbellsburg, 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 Henry County Property Valuation Administrator 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. 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 Campbellsburg helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in the area is $115,500, with the highest median tax bill being $1,187 in zip code 40011.
Average Campbellsburg Assessed Value
$115,500
Average Henry County Assessed Value
$127,000
Average Kentucky Assessed Value
$110,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Campbellsburg, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 40011 | $32,140 | $73,650 | $115,500 | $161,600 | $231,780 |
Source: Ownwell
Property Tax Bills Across Campbellsburg, Kentucky
In Campbellsburg, Henry County, KY, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. The assessed value is typically a percentage of the property's market value. Homeowners in Campbellsburg face a median property tax rate of 0.99%, which aligns with the national median. For a home with a median price of $115,500, this translates to a typical tax bill that can range significantly. Several factors influence the final tax bill, including the property's location, size, and any applicable exemptions. For instance, tax bills in the 25th percentile are around $668, while those in the 75th percentile can reach up to $1,781. The highest tax bills, in the 90th percentile, soar to approximately $2,628. These tax obligations can significantly impact homeowners, affecting their overall cost of living and financial planning. Understanding these factors is crucial for effective property tax management and financial stability.
Average Campbellsburg Tax Bill
$1,187
Average Henry County Tax Bill
$1,329
Average Kentucky Tax Bill
$1,031
Average United States Tax Bill
$2,690
Property Tax Bills Across Campbellsburg, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 40011 | $322 | $668 | $1,187 | $1,781 | $2,628 |
Source: Ownwell