Louisa, Kentucky Property Taxes
The median property tax rate in Louisa, KY is 1.15%, which is higher than both the national median of 0.99% and the Kentucky state median of 1.02%. With a median home value of $35,000 in Louisa, the typical annual property tax bill amounts to $331, which is considerably lower than the national median of $2,690. Property taxes in Louisa are calculated based on the tax assessed value, which often falls below market value due to exemptions such as those for primary residences and agricultural properties. Understanding Louisa'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 Louisa 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
Louisa, Kentucky Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.15%
Estimate Property Tax Bill
$403
Ownwell’s Louisa Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Louisa with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Louisa 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 Louisa, Kentucky
Property taxes in Louisa, Kentucky, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Louisa is 1.15%, which is higher than the U.S. national median of 0.99%. Local government entities in Louisa set these rates annually, and they can vary significantly across different neighborhoods. Each year, Louisa 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 Louisa's effective property tax rate to other areas within Lawrence County and the national median. For comparison, the 41201 zip code has the highest median property tax rate of 1.37%, while the 41230 zip code has the lowest median tax rate of 1.15%. Understanding how these areas compare with Louisa 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 Louisa Tax Rate
1.15%
Average Lawrence County Tax Rate
1.15%
Average Kentucky Tax Rate
1.02%
Average United States Tax Rate
0.99%
Property Tax Rates Across Louisa, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 41201 | 1.27% | 1.30% | 1.37% | 1.54% | 1.74% |
| 41230 | 0.51% | 1.12% | 1.15% | 1.17% | 1.31% |
Source: Ownwell
Property Tax Assessment Values Across Louisa, Kentucky
In Louisa, 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 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 Louisa, 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 Louisa helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest and lowest median tax bills in Louisa are both $331.00, found in zip code 41230.
Average Louisa Assessed Value
$35,000
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 Louisa, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 41201 | $2,900 | $4,250 | $6,500 | $9,000 | $10,800 |
| 41230 | $5,000 | $11,000 | $35,000 | $77,500 | $138,500 |
Source: Ownwell
Property Tax Bills Across Louisa, Kentucky
In Louisa, located in Lawrence County, KY, property tax bills are calculated based on the assessed value of the property, which is determined by the local tax assessor. The median home price in Louisa is $35,000. Property tax bills can vary significantly, with the 25th percentile tax bill at $115 and the 75th percentile tax bill reaching $802, indicating a broad range of tax liabilities among homeowners. The 90th percentile tax bill can be as high as $1,517, reflecting higher-valued properties or additional levies. Several factors influence the tax bill, including the property's assessed value, local tax rates, and any applicable exemptions or deductions. Compared to the national median property tax rate of 0.99%, Louisa's property taxes can be relatively modest, making homeownership more affordable in this region. However, the tax burden can still impact homeowners' finances, especially for those with higher-valued properties. Understanding these factors helps homeowners anticipate their annual tax obligations and plan their finances accordingly.
Average Louisa Tax Bill
$331
Average Lawrence County Tax Bill
$296
Average Kentucky Tax Bill
$1,031
Average United States Tax Bill
$2,690
Property Tax Bills Across Louisa, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 41201 | $48 | $63 | $88 | $116 | $136 |
| 41230 | $56 | $115 | $331 | $802 | $1,517 |
Source: Ownwell