Pendleton, Henry County, Kentucky Property Taxes
The median property tax rate in Pendleton, KY is 1.16%, which is considerably higher than both the national median of 0.99% and the Kentucky state median of 1.02%. With the median home value in Pendleton, the typical annual property tax bill reaches $2,586, slightly below the national median of $2,690. Property taxes in Pendleton 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 Pendleton'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 Pendleton 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
Pendleton, Henry County, Kentucky Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.16%
Estimate Property Tax Bill
$2,733
$2,536
Ownwell’s Pendleton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Pendleton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Pendleton 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 Pendleton, Henry County, Kentucky
Property taxes in Pendleton, Kentucky, are essential in funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Pendleton is 0.73%, which is lower than both the Kentucky state median of 0.83% and the U.S. national median of 0.99%. Local government entities within Pendleton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Pendleton 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 Pendleton's effective property tax rate to other counties in Kentucky and the national median. For comparison, the ZIP code 40055 has the highest median property tax rate of 1.16%, while ZIP code 40055 also has the lowest median tax rate of 1.16%. Understanding how these cities compare with Pendleton 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 Pendleton Tax Rate
1.16%
Average Henry County Tax Rate
1.15%
Average Kentucky Tax Rate
1.02%
Average United States Tax Rate
0.99%
Property Tax Rates Across Pendleton, Henry County, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 40055 | 0.93% | 1.09% | 1.16% | 1.19% | 1.20% |
Source: Ownwell
Property Tax Assessment Values Across Pendleton, Henry County, Kentucky
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Pendleton, 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 Pendleton 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 Pendleton, 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 Pendleton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Pendleton, the highest median tax bill is $2,586 in the 40055 zip code, while the lowest median tax bill is also $2,586 in the same zip code.
Property Tax Assessment Values Across Pendleton, Henry County, Kentucky
Source: Ownwell
$48,900
$142,250
$235,600
Average Pendleton Assessed Value
$235,600
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 Pendleton, Henry County, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 40055 | $68,300 | $168,850 | $235,600 | $290,000 | $364,500 |
Source: Ownwell
Property Tax Bills Across Pendleton, Henry County, Kentucky
In Pendleton, located in Henry County, KY, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by the local tax assessor and is a percentage of the market value of the property. Once the assessed value is established, local tax rates are applied to calculate the annual property tax bill. For example, with a median home price of $235,600, homeowners can expect varying tax bills depending on the percentile. At the 25th percentile, the tax bill is around $1,840, while at the 75th percentile, it rises to approximately $3,312. For those at the 90th percentile, the tax bill can reach up to $4,175. These figures highlight the range of property tax burdens homeowners may face. Comparatively, the national median property tax rate is 0.99%, indicating that property tax rates in Pendleton can be considerably higher or lower depending on specific assessments and local tax rates. Understanding these factors is crucial for homeowners budgeting for annual expenses.
Average Pendleton Tax Bill
$2,586
Average Henry County Tax Bill
$1,329
Average Kentucky Tax Bill
$1,031
Average United States Tax Bill
$2,690
Property Tax Bills Across Pendleton, Henry County, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 40055 | $680 | $1,840 | $2,586 | $3,312 | $4,175 |
Source: Ownwell