Denver, Kentucky Property Taxes
The median property tax rate in Denver, Kentucky is 1.59%, considerably higher than both the national median of 0.99% and the Kentucky state median of 1.02%. With the median home value in Denver, the typical annual property tax bill reaches $64, exceeding the national median of $2,690. Property taxes in Denver 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 Denver'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 Denver 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
Denver, Kentucky Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.02%
Estimate Property Tax Bill
$2,040
Ownwell's Denver Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Denver with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Denver to provide an estimate of 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 Johnson County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Denver, Kentucky
Property taxes in Denver, Kentucky, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Denver is 1.59%, significantly higher than the U.S. national median of 0.99%. Local government entities within Denver set these rates annually, and they can vary significantly across different neighborhoods. Each year, Denver 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 Denver's effective property tax rate to other counties in Kentucky and the national median. For comparison, the zip code 41222 has the highest median property tax rate of 1.59%, while the same zip code also has the lowest median tax rate of 1.59%. Understanding how these cities compare with Denver provides valuable insights into the varying tax landscape across Johnson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Denver Tax Rate
1.59%
Average Johnson County Tax Rate
1.01%
Average Kentucky Tax Rate
1.02%
Average United States Tax Rate
0.99%
Property Tax Rates Across Denver, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 41222 | 1.59% | 1.59% | 1.59% | 1.59% | 1.59% |
Source: Ownwell
Property Tax Assessment Values Across Denver, Kentucky
In Denver, 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 Johnson 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 Denver, 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 Denver helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price is $4,000, with the 25th, 75th, and 90th percentile tax bills all at $64, indicating a consistent tax landscape across the area.
Average Denver Assessed Value
$4,000
Average Johnson County Assessed Value
$56,700
Average Kentucky Assessed Value
$110,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Denver, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 41222 | $4,000 | $4,000 | $4,000 | $4,000 | $4,000 |
Source: Ownwell
Property Tax Bills Across Denver, Kentucky
In Denver, Johnson County, KY, property tax bills are calculated based on the assessed value of the property. The assessment is a percentage of the market value determined by the county assessor. For a property with a median home price of $4,000, the tax bill can vary significantly depending on the property's assessed value and the local tax rate. Factors such as property size, location, and improvements can influence the assessed value. Homeowners in Denver can expect their tax bills to fall within certain ranges. For instance, the tax bill at the 25th, 75th, and 90th percentiles is $64. This consistency indicates a relatively stable tax environment. The local tax rate in Johnson County is compared against the national median property tax rate of 0.99%, highlighting the affordability of property taxes in this region. Understanding how property tax bills are calculated is crucial for homeowners, as it affects their annual financial obligations and overall cost of homeownership. Accurate assessments and knowledge of local tax rates help homeowners plan and budget effectively.
Average Denver Tax Bill
$64
Average Johnson County Tax Bill
$379
Average Kentucky Tax Bill
$1,031
Average United States Tax Bill
$2,690
Property Tax Bills Across Denver, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 41222 | $64 | $64 | $64 | $64 | $64 |
Source: Ownwell