Marshall County, Kentucky Property Taxes
The median property tax rate in Marshall County is 1.08%, 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 $60,000 in Marshall County, the typical annual property tax bill is $728, significantly lower than the national median of $2,690. Property taxes in Marshall County are calculated based on the assessed value, which usually falls below the market value due to various property tax exemptions like the primary residence and agricultural exemptions. Understanding Marshall 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 Benton or another part of Marshall County, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Marshall County, Kentucky Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.08%
Estimate Property Tax Bill
$648
$601
Ownwell’s Marshall County Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner to estimate their annual property taxes in Marshall County with just 2 data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Marshall 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 Marshall County, Kentucky
Property taxes in Marshall County play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Marshall County is 1.08%, which is higher than both the Kentucky state median and the U.S. national median of 0.99%. Local government entities within Marshall County set these rates annually, and they can vary significantly between different areas within the county. Each year, Marshall 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 Hardin has one of the higher property tax rates in Kentucky at 1.14%, while the city of Paducah boasts one of the lowest at 0.48%. Analyzing how Marshall County's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Marshall County Tax Rate
1.08%
Average Kentucky Tax Rate
1.02%
Average United States Tax Rate
0.99%
Property Tax Rates Across Marshall County, Kentucky
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Benton | 0.98% | 0.99% | 1.08% | 1.08% | 1.58% |
| Calvert City | 0.68% | 0.90% | 1.05% | 1.08% | 1.94% |
| Dexter | N/A | N/A | N/A | N/A | N/A |
| Gilbertsville | 1.07% | 1.08% | 1.08% | 1.34% | 2.62% |
| Hardin | 1.08% | 1.08% | 1.14% | 1.27% | 2.70% |
| Kirksey | 1.07% | 1.07% | 1.07% | 1.07% | 2.16% |
| Mayfield | N/A | N/A | N/A | N/A | N/A |
| Paducah | N/A | N/A | N/A | N/A | N/A |
| Symsonia | 0.76% | 1.07% | 1.07% | 1.07% | 1.07% |
Source: Ownwell
Property Tax Assessment Values Across Marshall County, Kentucky
In Marshall 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 Marshall 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 Marshall 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 instance, Dexter has the highest median tax bill at $1,649, while Mayfield has the lowest at $160. Being aware of these valuation processes in Marshall County will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively.
Average Marshall County Assessed Value
$60,000
Average Kentucky Assessed Value
$110,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Marshall County, Kentucky
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Benton | $13,500 | $29,750 | $61,000 | $130,000 | $242,000 |
| Calvert City | $11,000 | $20,000 | $59,000 | $100,000 | $149,100 |
| Dexter | N/A | N/A | N/A | N/A | N/A |
| Gilbertsville | $15,000 | $30,000 | $85,000 | $193,000 | $375,000 |
| Hardin | $9,785 | $17,875 | $35,000 | $59,125 | $116,000 |
| Kirksey | $9,000 | $11,750 | $23,500 | $86,000 | $115,500 |
| Mayfield | N/A | N/A | N/A | N/A | N/A |
| Paducah | N/A | N/A | N/A | N/A | N/A |
| Symsonia | $9,060 | $10,000 | $30,500 | $80,000 | $100,000 |
Source: Ownwell
Property Tax Bills Across Marshall County, Kentucky
In Marshall County, KY, property tax bills are calculated based on the assessed value of your home, which is determined by the local tax assessor. This assessed value is then multiplied by the local property tax rate to arrive at your annual tax bill. The median home price in Marshall County is $60,000, and the property tax rate is applied to this value to determine the tax amount. For instance, homeowners in the 25th percentile can expect a tax bill around $335, while those in the 75th percentile might see a bill of approximately $1,595. At the higher end, the 90th percentile tax bill can reach up to $3,048. These figures show a wide range of tax bills, influenced by factors such as property location and home value. For comparison, Dexter has the highest median tax bill in the county at $1,649, while Mayfield has the lowest at $160. Understanding these variations can help homeowners better anticipate their property tax obligations.
Average Marshall County Tax Bill
$728
Average Kentucky Tax Bill
$1,031
Average United States Tax Bill
$2,690
Property Tax Bills Across Marshall County, Kentucky
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Benton | $147 | $347 | $725 | $1,656 | $2,924 |
| Calvert City | $126 | $277 | $613 | $991 | $1,585 |
| Dexter | N/A | N/A | N/A | N/A | N/A |
| Gilbertsville | $215 | $485 | $1,223 | $2,558 | $4,756 |
| Hardin | $126 | $226 | $453 | $817 | $1,508 |
| Kirksey | $107 | $156 | $453 | $747 | $1,156 |
| Mayfield | N/A | N/A | N/A | N/A | N/A |
| Paducah | N/A | N/A | N/A | N/A | N/A |
| Symsonia | $97 | $107 | $368 | $634 | $1,510 |
Source: Ownwell