Mccracken County, Kentucky Property Taxes
The median property tax rate in McCracken County is 0.84%, 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 $78,000 in McCracken County, the typical annual property tax bill is $446, significantly below the national median of $2,690. Property taxes in McCracken County are determined based on the tax assessed value, which is often less than the actual market value due to various property tax exemptions such as those for primary residences and agricultural properties. Understanding McCracken County's specific property tax system, exploring available exemptions, and identifying opportunities for property tax reductions can provide substantial annual savings. Whether you live in Paducah or another part of McCracken County, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Mccracken County, Kentucky Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.84%
Estimate Property Tax Bill
$655
$608
Ownwell’s McCracken County Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner to estimate their annual property taxes in McCracken County with just 2 data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in McCracken 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 Mccracken County, Kentucky
Property taxes in McCracken County play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in McCracken County is 0.84%, which is lower than the U.S. national median of 0.99%. Local government entities within McCracken County set these rates annually, and they can vary significantly between different areas within the county. Each year, McCracken 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. The following data compares McCracken County's effective property tax rate with other counties in Kentucky and the national median. For comparison, the city of Boaz has one of the higher property tax rates in Kentucky at 0.98%, while the city of Paducah boasts one of the lowest at 0.79%. Analyzing how McCracken County's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Mccracken County Tax Rate
0.84%
Average Kentucky Tax Rate
1.02%
Average United States Tax Rate
0.99%
Property Tax Assessment Values Across Mccracken County, Kentucky
In McCracken 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 McCracken 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 McCracken 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. Being aware of these valuation processes in McCracken County will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively. Notably, West Paducah has the highest median tax bill at $486, while Symsonia has the lowest at $156.
Property Tax Assessment Values Across Mccracken County, Kentucky
Source: Ownwell
$28,000
$82,100
$136,200
Average Mccracken County Assessed Value
$78,000
Average Kentucky Assessed Value
$110,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Mccracken County, Kentucky
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Boaz | $10,000 | $16,000 | $55,150 | $132,671 | $197,930 |
| Calvert City | N/A | N/A | N/A | N/A | N/A |
| Kevil | $2,100 | $10,000 | $41,500 | $110,800 | $177,700 |
| Melber | $5,000 | $10,400 | $30,000 | $59,350 | $117,150 |
| Paducah | $3,000 | $19,000 | $82,425 | $180,000 | $274,510 |
| Symsonia | $3,000 | $11,750 | $28,000 | $47,550 | $73,620 |
| West Paducah | $6,400 | $16,000 | $63,500 | $150,375 | $247,650 |
Source: Ownwell
Property Tax Bills Across Mccracken County, Kentucky
In McCracken County, KY, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. The assessed value is a percentage of the property's market value. Homeowners in McCracken County can expect varying tax bills depending on the value of their property. For example, the median home price in the county is $78,000. Several factors influence the final tax bill, including the property's location, improvements, and any applicable exemptions. Tax bills in McCracken County range significantly. At the 25th percentile, homeowners might see a tax bill as low as $102, while those in the 75th percentile could pay around $1,380. The 90th percentile sees even higher bills, reaching up to $2,533. The highest median tax bill in the county is $486 in West Paducah, while the lowest is $156 in Symsonia. These variations affect homeowners differently, with higher-valued properties typically incurring larger tax bills. Comparing this to the national median property tax rate of 0.99%, McCracken County's rates can be seen as relatively moderate.
Average Mccracken County Tax Bill
$446
Average Kentucky Tax Bill
$1,031
Average United States Tax Bill
$2,690