Villa Hills, Kentucky Property Taxes
The median property tax rate in Villa Hills, KY is 1.07%, slightly higher than both the national median of 0.99% and Kentucky's state median of 1.02%. With the median home value in Villa Hills at $232,500, the typical annual property tax bill reaches $2,329, which is below the national median of $2,690. Property taxes in Villa Hills are calculated based on the assessed value, often lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Villa Hills' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Villa Hills or another part of the city, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Villa Hills, Kentucky Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.07%
Estimate Property Tax Bill
$2,488
Ownwell’s Villa Hills Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Villa Hills with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Villa Hills 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 Villa Hills, Kentucky
Property taxes in Villa Hills, Kentucky, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Villa Hills is 1.07%, which is higher than the U.S. national median of 0.99%. Local government entities within Villa Hills set these rates annually, and they can vary significantly across different neighborhoods. Each year, Villa Hills 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 Villa Hills' effective property tax rate to other areas in Kentucky and the national median. For comparison, the 41017 zip code has the highest median property tax rate of 1.07%, while the same zip code also has the lowest median tax rate of 1.07%. Understanding how these areas compare with Villa Hills 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 Villa Hills 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 Villa Hills, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 41017 | 0.79% | 0.89% | 1.07% | 1.07% | 1.07% |
Source: Ownwell
Property Tax Assessment Values Across Villa Hills, Kentucky
In Villa Hills, 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 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. In Villa Hills, 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 Villa Hills helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $2,329, found in zip code 41017.
Average Villa Hills Assessed Value
$232,500
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 Villa Hills, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 41017 | $159,500 | $179,300 | $232,500 | $354,400 | $529,100 |
Source: Ownwell
Property Tax Bills Across Villa Hills, Kentucky
In Villa Hills, located in Kenton County, KY, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. Factors such as property size, location, and market conditions influence the assessed value. Homeowners in Villa Hills experience a range of property tax bills. The 25th percentile tax bill is approximately $1,756, while the 75th percentile tax bill is around $3,668. For those at the higher end, the 90th percentile tax bill can reach up to $5,583. By comparison, the national median property tax rate is 0.99%, which provides a useful benchmark for understanding local tax burdens. These property taxes are crucial for funding local services such as schools, infrastructure, and emergency services, directly impacting the quality of life for residents. Understanding how these taxes are calculated helps homeowners plan their finances and anticipate changes in their annual expenses.
Average Villa Hills Tax Bill
$2,329
Average Kenton County Tax Bill
$2,000
Average Kentucky Tax Bill
$1,031
Average United States Tax Bill
$2,690
Property Tax Bills Across Villa Hills, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 41017 | $1,382 | $1,756 | $2,329 | $3,668 | $5,583 |
Source: Ownwell