Ewing, Mason County, Kentucky Property Taxes
The median property tax rate in Ewing, KY is 0.83%, which is lower than both the national median of 0.99% and the Kentucky state median of 1.02%. With the median home value in Ewing, the typical annual property tax bill reaches $1,157, well below the national median of $2,690. Property taxes in Ewing are calculated based on the assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Ewing'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 Ewing 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
Ewing, Mason County, Kentucky Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.83%
Estimate Property Tax Bill
$1,373
$1,274
Ownwell’s Ewing Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Ewing with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Ewing 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 Ewing, Mason County, Kentucky
Property taxes in Ewing, Kentucky, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Ewing is 0.62%, which is lower than both the Kentucky state median of 0.83% and the U.S. national median of 0.99%. Local government entities within Ewing set these rates annually, and they can vary significantly across different neighborhoods. Each year, Ewing 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 Ewing's effective property tax rate to other counties in Kentucky and the national median. For comparison, the 41039 zip code has both the highest and lowest median property tax rate of 0.83%. Understanding how these cities compare with Ewing provides valuable insights into the varying tax landscape across Fleming County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Ewing Tax Rate
0.83%
Average Mason County Tax Rate
1.07%
Average Kentucky Tax Rate
1.02%
Average United States Tax Rate
0.99%
Property Tax Rates Across Ewing, Mason County, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 41039 | 0.22% | 0.30% | 0.83% | 1.07% | 1.07% |
Source: Ownwell
Property Tax Assessment Values Across Ewing, Mason County, Kentucky
In Ewing, 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 Mason 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 Ewing, 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 Ewing 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 41039, with a median tax bill of $1,157.
Property Tax Assessment Values Across Ewing, Mason County, Kentucky
Source: Ownwell
$64,000
$114,686
$165,371
Average Ewing Assessed Value
$165,371
Average Mason County Assessed Value
$70,000
Average Kentucky Assessed Value
$110,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Ewing, Mason County, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 41039 | $47,080 | $94,472 | $165,371 | $230,945 | $459,802 |
Source: Ownwell
Property Tax Bills Across Ewing, Mason County, Kentucky
In Ewing, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The assessed value is a percentage of the home's market value. Once the assessed value is established, the local property tax rate is applied to calculate the annual tax bill. For instance, with a median home price of $165,371 in Ewing, homeowners can expect varying tax bills depending on their property's assessed value and specific tax rate. Factors such as property location, improvements, and market conditions also influence the assessed value. In Ewing, the tax bill for the 25th percentile is around $696, while those in the 75th percentile pay about $1,493. The 90th percentile tax bill reaches approximately $1,882. This range illustrates how different factors impact the final tax amount. Homeowners need to be aware of these calculations as property taxes directly affect their annual expenses and overall financial planning.
Average Ewing Tax Bill
$1,157
Average Mason County Tax Bill
$649
Average Kentucky Tax Bill
$1,031
Average United States Tax Bill
$2,690
Property Tax Bills Across Ewing, Mason County, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 41039 | $199 | $696 | $1,157 | $1,493 | $1,882 |
Source: Ownwell