Denton, Lawrence County, Kentucky Property Taxes
The median property tax rate in Denton, KY is 1.21%, significantly higher than both the national median of 0.99% and the Kentucky state median of 1.02%. With the median home value in Denton, the typical annual property tax bill reaches $240, which is notably lower than the national median of $2,690. Property taxes in Denton are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Denton'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 Denton 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
Denton, Lawrence County, Kentucky Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.21%
Estimate Property Tax Bill
$247
$229
Ownwell’s Denton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Denton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Denton 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 Denton, Lawrence County, Kentucky
Property taxes in Denton, Kentucky, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Denton is 0.74%, lower than both the Kentucky state median of 0.83% and the U.S. national median of 0.99%. Local government entities within Denton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Denton 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 Denton's effective property tax rate to other counties in Kentucky and the national median. For comparison, the 41132 zip code has the highest median property tax rate of 0.74%, while the lowest median tax rate is also 0.74%. Understanding how these cities compare with Denton provides valuable insights into the varying tax landscape across Lawrence County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Denton Tax Rate
1.21%
Average Lawrence County Tax Rate
1.15%
Average Kentucky Tax Rate
1.02%
Average United States Tax Rate
0.99%
Property Tax Rates Across Denton, Lawrence County, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 41132 | 0.87% | 1.16% | 1.21% | 1.27% | 1.35% |
Source: Ownwell
Property Tax Assessment Values Across Denton, Lawrence County, Kentucky
In Denton, 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 Lawrence 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 Denton, 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. For example, the zip code 41132 has the highest median tax bill at $240. 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 Denton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Denton, Lawrence County, Kentucky
Source: Ownwell
$18,000
$38,650
$59,300
Average Denton Assessed Value
$20,400
Average Lawrence County Assessed Value
$32,500
Average Kentucky Assessed Value
$110,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Denton, Lawrence County, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 41132 | $9,600 | $12,500 | $20,400 | $42,000 | $68,720 |
Source: Ownwell
Property Tax Bills Across Denton, Lawrence County, Kentucky
In Denton, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. This value is then multiplied by the local property tax rate to determine the annual tax bill. Several factors influence the assessed value, including the property's market value, location, and any improvements made to the property. In Denton, the median home price is $20,400, and property tax bills vary widely. Homeowners at the 25th percentile pay around $146 annually, while those at the 75th percentile pay approximately $343. The highest median tax bill in the area is $240, as seen in the 41132 zip code. These tax bills can significantly impact homeowners, particularly those on fixed incomes or with lower-valued properties. Compared to the national median property tax rate of 0.99%, Denton's tax rates can be more manageable, but they still represent a crucial expense for homeowners to consider.
Average Denton Tax Bill
$240
Average Lawrence County Tax Bill
$296
Average Kentucky Tax Bill
$1,031
Average United States Tax Bill
$2,690
Property Tax Bills Across Denton, Lawrence County, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 41132 | $83 | $146 | $240 | $343 | $698 |
Source: Ownwell