Jessamine County, Kentucky Property Taxes
The median property tax rate in Jessamine County is 1.06%, which is slightly higher than both the national median of 0.99% and the Kentucky state median of 1.02%. With the median home value in Jessamine County at $189,900, the typical annual property tax bill reaches $1,839, which is below the national median of $2,690. Property taxes in Jessamine County are calculated based on the tax assessed value, which generally falls below the actual market value due to various property tax exemptions like the primary residence and agricultural exemptions. Understanding Jessamine County's specific property tax system, exploring available exemptions, and identifying opportunities for property tax reductions can provide significant annual savings. Whether you live in Nicholasville or another part of Jessamine County, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Jessamine County, Kentucky Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.06%
Estimate Property Tax Bill
$2,013
$1,868
Ownwell’s Jessamine Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner to estimate their annual property taxes in Jessamine with just 2 data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Jessamine to estimate your property tax bill. This insight helps you understand potential tax liabilities. If you’d like to see trends on a city level, scroll down to navigate to a more local informational page. Your property assessed value is the value assigned to your property by your county for property tax calculations. Assessed value takes into account any exemptions you may have on your property.
Property Tax Rates Across Jessamine County, Kentucky
Property taxes in Jessamine County play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Jessamine County is 1.06%, which is higher than the U.S. national median of 0.99%. Local government entities within Jessamine County set these rates annually, and they can vary significantly between different areas within the county. Each year, Jessamine County estimates its required budget to maintain services for the upcoming fiscal year, and divides this budget by the total value of all taxable property in the jurisdiction, resulting in the property tax rate. Although tax rates and budgets are influenced by laws and voter input, this calculation forms the basic process for setting property tax rates. The following data compares Jessamine County's effective property tax rate with other areas and the national median. For comparison, the city of Keene has one of the higher property tax rates at 1.12%, while the city of Nicholasville boasts one of the lowest at 1.06%. Analyzing how Jessamine County's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Jessamine County Tax Rate
1.06%
Average Kentucky Tax Rate
1.02%
Average United States Tax Rate
0.99%
Property Tax Rates Across Jessamine County, Kentucky
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Keene | 0.81% | 1.12% | 1.12% | 1.12% | 1.12% |
| Lexington | 0.34% | 0.73% | 1.12% | 1.12% | 1.12% |
| Nicholasville | 0.70% | 0.95% | 1.06% | 1.06% | 1.12% |
| Versailles | 0.52% | 0.91% | 1.12% | 1.12% | 1.12% |
| Wilmore | 0.63% | 0.86% | 1.06% | 1.06% | 1.12% |
Source: Ownwell
Property Tax Assessment Values Across Jessamine County, Kentucky
In Jessamine County, understanding the difference between "market value" and "assessed value" is key to comprehending property taxes. The market value represents the price a willing buyer would pay to a willing seller in an open, competitive market, considering location, property condition, and current economic trends. For tax purposes, this value is estimated by the Jessamine County Appraisal District. The assessed value, however, 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 in Jessamine County are typically mailed in the spring, usually by the middle of April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By distinguishing between these valuation concepts, property owners can better navigate their tax responsibilities and understand how their property taxes are affected. Being aware of these valuation processes in Jessamine County will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively. In Jessamine County, the highest median tax bill is in Versailles at $3,493, while the lowest is in Keene at $727.
Property Tax Assessment Values Across Jessamine County, Kentucky
Source: Ownwell
$71,553
$213,277
$355,000
Average Jessamine County Assessed Value
$189,900
Average Kentucky Assessed Value
$110,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Jessamine County, Kentucky
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Keene | $11,200 | $28,000 | $71,553 | $83,500 | $121,835 |
| Lexington | $2,875 | $44,718 | $189,750 | $465,000 | $749,500 |
| Nicholasville | $73,300 | $123,338 | $189,700 | $310,000 | $521,930 |
| Versailles | $99,500 | $227,250 | $355,000 | $590,700 | $850,000 |
| Wilmore | $95,000 | $130,000 | $181,200 | $270,800 | $404,748 |
Source: Ownwell
Property Tax Bills Across Jessamine County, Kentucky
In Jessamine County, KY, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. The median home price in Jessamine County is $189,900, which provides a baseline for understanding how tax bills are generated. Factors such as property location, size, and condition can influence the assessed value, thereby affecting the tax bill. Homeowners in Jessamine County can expect to pay varying amounts in property taxes, with the 25th percentile tax bill at $1,150 and the 75th percentile tax bill at $2,997. For those in the higher end, the 90th percentile tax bill reaches up to $5,031. Comparatively, the national median property tax rate is 0.99%, making Jessamine County's rates relatively moderate. The highest median tax bill in the county is found in Versailles at $3,493, while the lowest is in Keene at $727. These variations highlight the importance of property location and assessment in determining tax obligations.
Average Jessamine County Tax Bill
$1,839
Average Kentucky Tax Bill
$1,031
Average United States Tax Bill
$2,690
Property Tax Bills Across Jessamine County, Kentucky
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Keene | $142 | $246 | $727 | $917 | $1,428 |
| Lexington | $72 | $483 | $1,742 | $4,785 | $7,221 |
| Nicholasville | $655 | $1,143 | $1,848 | $3,019 | $5,145 |
| Versailles | $631 | $2,001 | $3,493 | $5,534 | $8,620 |
| Wilmore | $768 | $1,221 | $1,738 | $2,546 | $3,759 |
Source: Ownwell