Saint Matthews, Kentucky Property Taxes
The median property tax rate in Saint Matthews, KY is 1.15%, considerably higher than both the national median of 0.99% and the Kentucky state median of 1.02%. With the median home value in Saint Matthews, the typical annual property tax bill reaches $132, which is significantly lower than the national median of $2,690. Property taxes in Saint Matthews 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 Saint Matthews' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Saint Matthews 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
Saint Matthews, Kentucky Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.15%
Estimate Property Tax Bill
$132
Ownwell’s Saint Matthews Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Saint Matthews with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Saint Matthews 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 Saint Matthews, Kentucky
Property taxes in Saint Matthews, Kentucky, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Saint Matthews is 1.15%, notably higher than the U.S. national median of 0.99%. Local government entities within Saint Matthews set these rates annually, and they can vary significantly across different neighborhoods. Each year, Saint Matthews 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 Saint Matthews' effective property tax rate to other regions in Kentucky and the national median. For comparison, the zip code 40222 has both the highest and the lowest median property tax rates at 1.15%. Understanding how these areas compare with Saint Matthews provides valuable insights into the varying tax landscape across Jefferson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Saint Matthews Tax Rate
1.15%
Average Jefferson County Tax Rate
1.17%
Average Kentucky Tax Rate
1.02%
Average United States Tax Rate
0.99%
Property Tax Rates Across Saint Matthews, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 40207 | N/A | N/A | N/A | N/A | N/A |
| 40222 | 1.15% | 1.15% | 1.15% | 1.15% | 1.15% |
Source: Ownwell
Property Tax Assessment Values Across Saint Matthews, Kentucky
In Saint Matthews, 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 Jefferson 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. In Saint Matthews, the highest and lowest median tax bills are both $132, found in the 40222 zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Saint Matthews, Kentucky
Source: Ownwell
$6,750
$618,600
$1,230,450
Average Saint Matthews Assessed Value
$11,500
Average Jefferson County Assessed Value
$181,690
Average Kentucky Assessed Value
$110,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Saint Matthews, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 40207 | N/A | N/A | N/A | N/A | N/A |
| 40222 | $11,500 | $11,500 | $11,500 | $11,500 | $11,500 |
Source: Ownwell
Property Tax Bills Across Saint Matthews, Kentucky
In Saint Matthews, located in Jefferson County, KY, property tax bills are calculated based on the assessed value of the property. The assessed value is determined by the local assessor's office and reflects the property's market value. Homeowners in Saint Matthews can expect their property tax bills to be influenced by several factors, including the property's location, size, and any improvements made. The median home price in Saint Matthews is $11,500, and the median property tax bill is $132, which is significantly lower than the national median property tax rate of 0.99%. This lower tax rate can be beneficial for homeowners, making it more affordable to own and maintain property in the area. The consistency in tax bills, with the 25th, 75th, and 90th percentiles all at $132, indicates a stable tax environment. This predictability can provide homeowners with a sense of financial security, as they can anticipate their annual property tax expenses with greater accuracy.
Average Saint Matthews Tax Bill
$132
Average Jefferson County Tax Bill
$2,069
Average Kentucky Tax Bill
$1,031
Average United States Tax Bill
$2,690
Property Tax Bills Across Saint Matthews, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 40207 | N/A | N/A | N/A | N/A | N/A |
| 40222 | $132 | $132 | $132 | $132 | $132 |
Source: Ownwell