Asher, Kentucky Property Taxes
The median property tax rate in Asher, KY is 1.40%, considerably higher than both the national median of 0.99% and the Kentucky state median of 1.02%. With the median home value in Asher being $27,800, the typical annual property tax bill reaches $355, which is significantly lower than the national median of $2,690. Property taxes in Asher are calculated based on the tax assessed value, which generally falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Asher'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 Asher 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
Asher, Kentucky Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.02%
Estimate Property Tax Bill
$2,040
Ownwell’s Asher Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Asher with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Asher 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 Asher, Kentucky
Property taxes in Asher, Kentucky, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Asher is 1.40%, significantly higher than both the Kentucky state median and the U.S. national median of 0.99%. Local government entities within Asher set these rates annually, and they can vary significantly across different neighborhoods. Each year, Asher 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 Asher's effective property tax rate to other counties in Kentucky and the national median. For comparison, the 40803 zip code has both the highest and lowest median property tax rate of 1.40%. Understanding how these cities compare with Asher provides valuable insights into the varying tax landscape across Leslie County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Asher Tax Rate
1.40%
Average Leslie County Tax Rate
1.40%
Average Kentucky Tax Rate
1.02%
Average United States Tax Rate
0.99%
Property Tax Rates Across Asher, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 40803 | 0.91% | 1.40% | 1.40% | 1.40% | 1.40% |
Source: Ownwell
Property Tax Assessment Values Across Asher, Kentucky
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Asher, Kentucky. 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 Leslie 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 Asher, 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. Asher's median home price is $27,800, with tax bills ranging from $195 at the 25th percentile to $1,194 at the 90th percentile. The zip code with both the highest and lowest median tax bill is 40803, at $355. Being aware of these valuation processes in Asher helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Asher Assessed Value
$27,800
Average Leslie County Assessed Value
$28,300
Average Kentucky Assessed Value
$110,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Asher, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 40803 | $1,860 | $10,000 | $27,800 | $60,000 | $81,160 |
Source: Ownwell
Property Tax Bills Across Asher, Kentucky
Property tax bills in Asher, located in Leslie County, KY, are calculated based on the assessed value of a property and the local tax rate. The assessed value is determined by the county's property assessor, who evaluates the property's market value. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. For homeowners in Asher, the median home price is $27,800. Property tax bills can vary significantly, with the 25th percentile tax bill at $195 and the 75th percentile reaching $752. The 90th percentile tax bill goes up to $1,194, highlighting the range of property tax burdens within the community. Comparatively, the national median property tax rate is 0.99%, and Asher's tax rates can be seen as relatively moderate. These property taxes are essential for funding local services, such as schools, public safety, and infrastructure, directly impacting the quality of life for residents. Homeowners must budget for these taxes as part of their annual expenses, ensuring they can meet their obligations while benefiting from the services provided.
Average Asher Tax Bill
$355
Average Leslie County Tax Bill
$267
Average Kentucky Tax Bill
$1,031
Average United States Tax Bill
$2,690
Property Tax Bills Across Asher, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 40803 | $52 | $195 | $355 | $752 | $1,194 |
Source: Ownwell