Auburn, Logan County, Kentucky Property Taxes
The median property tax rate in Auburn, KY is 0.89%, which is lower than both the national median of 0.99% and the Kentucky state median of 1.02%. With a median home value of $100,000 in Auburn, the typical annual property tax bill is $753, significantly below the national median of $2,690. Property taxes in Auburn are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Auburn'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 Auburn 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
Auburn, Logan County, Kentucky Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.89%
Estimate Property Tax Bill
$890
$826
Ownwell’s Auburn Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Auburn with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Auburn 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 Auburn, Logan County, Kentucky
Property taxes in Auburn, Kentucky, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Auburn is 0.89%, which is slightly lower than the U.S. national median of 0.99%. Local government entities within Auburn set these rates annually, and they can vary significantly across different neighborhoods. Each year, Auburn 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 Auburn's effective property tax rate to other counties in Kentucky and the national median. For comparison, the 42206 zip code has both the highest and lowest median property tax rate in Logan County, standing at 0.89%. Understanding how these cities compare with Auburn provides valuable insights into the varying tax landscape across Logan County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Auburn Tax Rate
0.89%
Average Logan County Tax Rate
0.89%
Average Kentucky Tax Rate
1.02%
Average United States Tax Rate
0.99%
Property Tax Rates Across Auburn, Logan County, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 42206 | 0.21% | 0.45% | 0.89% | 0.89% | 0.89% |
Source: Ownwell
Property Tax Assessment Values Across Auburn, Logan County, Kentucky
In Auburn, 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 Logan 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 Auburn, 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 Auburn helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 42206, with a median tax bill of $753.
Property Tax Assessment Values Across Auburn, Logan County, Kentucky
Source: Ownwell
$65,000
$126,750
$188,500
Average Auburn Assessed Value
$100,000
Average Logan County Assessed Value
$85,000
Average Kentucky Assessed Value
$110,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Auburn, Logan County, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 42206 | $14,000 | $48,000 | $100,000 | $185,000 | $327,500 |
Source: Ownwell
Property Tax Bills Across Auburn, Logan County, Kentucky
In Auburn, Logan County, KY, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by the local tax assessor and reflects the market value of the property. Homeowners in Auburn can expect their property tax bills to vary significantly. For example, the 25th percentile tax bill in Auburn is $351, while the 75th percentile tax bill reaches up to $1,254. At the higher end, the 90th percentile tax bill can be as much as $1,767. These tax bills are influenced by various factors, including property size, location, and any improvements made to the property. The median property tax rate in Auburn is relatively modest compared to the national median of 0.99%. For homeowners, understanding these factors is crucial as they directly impact the annual financial obligations tied to property ownership. This variability in tax bills underscores the importance of staying informed about local property assessments and potential exemptions to manage and potentially reduce tax liabilities.
Average Auburn Tax Bill
$753
Average Logan County Tax Bill
$685
Average Kentucky Tax Bill
$1,031
Average United States Tax Bill
$2,690
Property Tax Bills Across Auburn, Logan County, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 42206 | $147 | $351 | $753 | $1,254 | $1,767 |
Source: Ownwell