Larue County, Kentucky Property Taxes
The median property tax rate in Larue County is 0.98%, which is slightly below the Kentucky state median of 1.02% and just under the national median of 0.99%. With a median home value of $95,000, the typical annual property tax bill in Larue County amounts to $717, considerably lower than the national median of $2,690. Property taxes in Larue County are determined based on the tax assessed value, which typically is lower than the actual market value due to various property tax exemptions, such as those for primary residences and agricultural properties. Understanding Larue 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 Hodgenville or another part of Larue County, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Larue County, Kentucky Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.98%
Estimate Property Tax Bill
$931
$864
Ownwell’s Larue County Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner to estimate their annual property taxes in Larue County with just 2 data points. Enter your property's estimated assessed value, our calculator applies the median tax rate in Larue County 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 Larue County, Kentucky
Property taxes in Larue County play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Larue County is 0.98%, which is slightly below the U.S. national median of 0.99%. Local government entities within Larue County set these rates annually, and they can vary significantly between different areas within the county. Each year, Larue 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. For comparison, the city of Raywick has one of the higher property tax rates in Kentucky at 1.05%, while the city of Campbellsville boasts one of the lowest at 0.51%. Analyzing how Larue County's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Larue County Tax Rate
0.98%
Average Kentucky Tax Rate
1.02%
Average United States Tax Rate
0.99%
Property Tax Rates Across Larue County, Kentucky
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Buffalo | 0.32% | 0.60% | 1.01% | 1.06% | 1.22% |
| Campbellsville | 0.19% | 0.28% | 0.51% | 1.00% | 1.17% |
| Hodgenville | 0.28% | 0.60% | 0.98% | 1.01% | 1.08% |
| Magnolia | 0.23% | 0.55% | 1.01% | 1.05% | 1.33% |
| Mount Sherman | 0.32% | 0.60% | 1.01% | 1.07% | 1.68% |
| New Haven | 0.17% | 0.45% | 1.00% | 1.05% | 1.18% |
| New Hope | 0.12% | 0.30% | 0.79% | 1.07% | 2.08% |
| Raywick | N/A | N/A | N/A | N/A | N/A |
| Sonora | 0.21% | 0.39% | 0.99% | 1.03% | 1.11% |
| Upton | 0.26% | 0.70% | 1.04% | 1.23% | 1.23% |
Source: Ownwell
Property Tax Assessment Values Across Larue County, Kentucky
In Larue 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 Larue 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 Larue 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. For example, in Larue County, the highest median tax bill is $840 in Sonora, while the lowest is $391 in New Hope. Being aware of these valuation processes will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively.
Average Larue County Assessed Value
$95,000
Average Kentucky Assessed Value
$110,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Larue County, Kentucky
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Buffalo | $13,500 | $38,000 | $87,450 | $145,000 | $225,000 |
| Campbellsville | $13,500 | $43,100 | $95,000 | $190,000 | $280,000 |
| Hodgenville | $17,250 | $55,000 | $100,000 | $175,000 | $300,000 |
| Magnolia | $10,000 | $40,000 | $85,000 | $140,000 | $290,000 |
| Mount Sherman | $4,400 | $27,000 | $70,000 | $120,000 | $177,400 |
| New Haven | $12,000 | $34,988 | $85,000 | $150,000 | $263,500 |
| New Hope | $3,220 | $29,750 | $83,750 | $200,000 | $354,600 |
| Raywick | N/A | N/A | N/A | N/A | N/A |
| Sonora | $25,500 | $60,000 | $129,500 | $240,000 | $400,000 |
| Upton | $10,000 | $30,000 | $65,000 | $125,375 | $199,100 |
Source: Ownwell
Property Tax Bills Across Larue County, Kentucky
In Larue County, KY, property tax bills are determined based on the assessed value of a home, which is a percentage of its market value. The median home price in the county is $95,000. Tax rates are applied to this assessed value to calculate the annual tax bill. Several factors influence the final tax bill, including local tax rates and any applicable exemptions or deductions. For homeowners in Larue County, the tax bill can vary significantly. At the 25th percentile, the tax bill is $325, while at the 75th percentile, it rises to $1,224. The 90th percentile tax bill reaches $1,832. Comparatively, the highest median tax bill is $840 in Sonora, while the lowest is $391 in New Hope. These variations can significantly impact homeowners' finances, making it essential to understand how local tax rates and assessed values play a role in determining property tax obligations.
Average Larue County Tax Bill
$717
Average Kentucky Tax Bill
$1,031
Average United States Tax Bill
$2,690
Property Tax Bills Across Larue County, Kentucky
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Buffalo | $131 | $280 | $673 | $1,144 | $1,655 |
| Campbellsville | $89 | $170 | $465 | $889 | $1,609 |
| Hodgenville | $146 | $388 | $788 | $1,312 | $1,950 |
| Magnolia | $94 | $276 | $624 | $1,048 | $1,605 |
| Mount Sherman | $55 | $156 | $502 | $1,017 | $1,395 |
| New Haven | $74 | $229 | $555 | $1,118 | $1,804 |
| New Hope | $49 | $74 | $391 | $998 | $1,231 |
| Raywick | N/A | N/A | N/A | N/A | N/A |
| Sonora | $192 | $428 | $840 | $1,366 | $2,015 |
| Upton | $86 | $243 | $615 | $1,164 | $1,540 |
Source: Ownwell
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