Erlanger, Kentucky Property Taxes
The median property tax rate in Erlanger, KY is 1.07%, slightly higher than both the national median of 0.99% and the Kentucky state median of 1.02%. With the median home value in Erlanger at $185,000, the typical annual property tax bill reaches $2,102, which is below the national median of $2,690. Property taxes in Erlanger are calculated based on the tax assessed value, often lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Erlanger'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 Erlanger 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
Erlanger, Kentucky Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.07%
Estimate Property Tax Bill
$1,980
Ownwell’s Erlanger Property Tax Bill Calculator is an essential tool for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Erlanger with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Erlanger to provide an estimate of your property tax bill. This insightful tool helps you understand potential tax liabilities. For those interested in more localized trends, additional neighborhood-level information is available below. Your property’s assessed value, determined by Kenton County, is used for property tax calculations and accounts for any applicable exemptions.
Property Tax Rates Across Erlanger, Kentucky
Property taxes in Erlanger, Kentucky, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Erlanger is 1.07%, which is higher than the U.S. national median of 0.99%. Local government entities within Erlanger set these rates annually, and they can vary significantly across different neighborhoods. Each year, Erlanger 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 Erlanger's effective property tax rate to other areas in Kentucky and the national median. For comparison, the 41018 zip code has the highest median property tax rate of 1.07%, while the 41017 zip code has the lowest median tax rate of 1.07%. Understanding how these areas compare with Erlanger provides valuable insights into the varying tax landscape across Kenton County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Erlanger Tax Rate
1.07%
Average Kenton County Tax Rate
1.07%
Average Kentucky Tax Rate
1.02%
Average United States Tax Rate
0.99%
Property Tax Rates Across Erlanger, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 41017 | 0.72% | 1.07% | 1.07% | 1.07% | 1.07% |
| 41018 | 0.88% | 1.03% | 1.07% | 1.30% | 1.30% |
Source: Ownwell
Property Tax Assessment Values Across Erlanger, Kentucky
In Erlanger, 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 Kenton 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 Erlanger, 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. For instance, in zip code 41018, the highest median tax bill is $2104, while in zip code 41017, the lowest median tax bill is $1332. Being aware of these valuation processes in Erlanger helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Erlanger Assessed Value
$185,000
Average Kenton County Assessed Value
$181,500
Average Kentucky Assessed Value
$110,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Erlanger, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 41017 | $60,750 | $95,000 | $127,000 | $143,750 | $243,970 |
| 41018 | $136,160 | $156,425 | $185,000 | $221,875 | $344,070 |
Source: Ownwell
Property Tax Bills Across Erlanger, Kentucky
In Erlanger, KY, property tax bills are calculated based on the assessed value of a home, which typically aligns closely with its market value. The local tax rate is then applied to this assessed value to determine the annual tax bill. Several factors influence this calculation, including the property's location, size, and any applicable exemptions or deductions. For instance, homeowners in Erlanger's 41018 zip code face the highest median tax bill in the area, averaging $2,104 annually, while those in the 41017 zip code experience a lower median tax bill of $1,332. Across Kenton County, the 25th percentile tax bill stands at $1,754, while the 75th percentile reaches $2,598, and the 90th percentile can go up to $3,685. These property tax bills can significantly impact homeowners, affecting their monthly mortgage payments and overall financial planning. Compared to the national median property tax rate of 0.99%, the rates in Erlanger are influenced by local policies and property values, highlighting the importance of understanding regional tax assessments.
Average Erlanger Tax Bill
$2,102
Average Kenton County Tax Bill
$2,000
Average Kentucky Tax Bill
$1,031
Average United States Tax Bill
$2,690
Property Tax Bills Across Erlanger, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 41017 | $480 | $749 | $1,332 | $1,383 | $2,601 |
| 41018 | $1,435 | $1,754 | $2,104 | $2,598 | $3,686 |
Source: Ownwell