Nelson County, Kentucky Property Taxes
The median property tax rate in Nelson County is 1.06%, which is higher than both the national median of 0.99% and the Kentucky state median of 1.02%. With the median home value in Nelson County at $145,000, the typical annual property tax bill reaches $1,138, which is below the national median of $2,690. Property taxes in Nelson County are calculated based on the tax assessed value, which generally falls below the actual market value due to various property tax exemptions like the primary residence and agricultural exemptions. Understanding Nelson 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 Bardstown or another part of Nelson County, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Nelson County, Kentucky Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.06%
Estimate Property Tax Bill
$1,537
$1,426
Ownwell’s Nelson County Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Nelson County with just two data points. By entering your property's estimated assessed value, our calculator applies the median tax rate in Nelson 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's 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 Nelson County, Kentucky
Property taxes in Nelson County play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Nelson County is 1.06%, which is higher than both the Kentucky state median and the U.S. national median of 0.99%. Local government entities within Nelson County set these rates annually, and they can vary significantly between different areas within the county. Each year, Nelson 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 Chaplin has one of the higher property tax rates in Kentucky at 1.18%, while the city of Bardstown boasts one of the lowest at 0.83%. Analyzing how Nelson County's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Nelson County Tax Rate
1.06%
Average Kentucky Tax Rate
1.02%
Average United States Tax Rate
0.99%
Property Tax Rates Across Nelson County, Kentucky
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Bardstown | 0.30% | 0.35% | 0.83% | 1.10% | 1.13% |
| Bloomfield | 0.45% | 0.82% | 1.17% | 1.23% | 1.48% |
| Boston | 0.46% | 0.83% | 1.09% | 1.13% | 1.22% |
| Chaplin | 0.45% | 0.77% | 1.18% | 1.20% | 1.21% |
| Coxs Creek | 0.68% | 0.89% | 1.10% | 1.12% | 1.15% |
| Fairfield | 0.51% | 0.74% | 1.16% | 1.19% | 1.22% |
| Lebanon Junction | N/A | N/A | N/A | N/A | N/A |
| Loretto | 0.39% | 0.65% | 1.10% | 1.13% | 1.19% |
| New Haven | 0.58% | 0.85% | 1.10% | 1.25% | 1.64% |
| New Hope | 0.35% | 0.60% | 1.10% | 1.20% | 1.49% |
| Springfield | N/A | N/A | N/A | N/A | N/A |
| Taylorsville | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
Property Tax Assessment Values Across Nelson County, Kentucky
Understanding the difference between "market value" and "assessed value" is key to comprehending property taxes in Nelson County, KY. 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 Nelson 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 Nelson 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, Coxs Creek has the highest median tax bill at $1,827, while Fairfield has the lowest at $655. Being aware of these valuation processes will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively.
Average Nelson County Assessed Value
$145,000
Average Kentucky Assessed Value
$110,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Nelson County, Kentucky
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Bardstown | $56,800 | $96,400 | $150,000 | $221,450 | $318,426 |
| Bloomfield | $24,920 | $66,000 | $126,500 | $222,000 | $358,420 |
| Boston | $7,000 | $36,750 | $110,000 | $207,720 | $322,382 |
| Chaplin | $25,000 | $53,338 | $92,050 | $135,000 | $261,480 |
| Coxs Creek | $69,360 | $133,800 | $180,500 | $249,000 | $345,900 |
| Fairfield | $8,000 | $32,350 | $76,900 | $104,100 | $137,200 |
| Lebanon Junction | N/A | N/A | N/A | N/A | N/A |
| Loretto | $46,730 | $85,150 | $145,710 | $226,025 | $361,850 |
| New Haven | $2,000 | $15,000 | $88,370 | $157,290 | $233,616 |
| New Hope | $12,000 | $32,730 | $100,360 | $192,955 | $307,240 |
| Springfield | N/A | N/A | N/A | N/A | N/A |
| Taylorsville | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
Property Tax Bills Across Nelson County, Kentucky
In Nelson County, KY, property tax bills are calculated based on the assessed value of a home. The median home price in the county is $145,000. The tax rate is applied to this assessed value to determine the annual tax bill. Factors such as property location, improvements, and exemptions can influence this assessed value. For instance, homeowners in Coxs Creek face the highest median tax bill of $1,827, while those in Fairfield experience the lowest at $655. The tax bills in Nelson County vary significantly, with the 25th percentile at $425 and the 75th percentile at $1,934. At the 90th percentile, homeowners can expect to pay up to $2,745. These variations illustrate how different factors, including property value and local rates, impact the overall tax burden. Compared to the national median property tax rate of 0.99%, Nelson County's rates can be seen as relatively moderate, offering a balanced tax environment for homeowners.
Average Nelson County Tax Bill
$1,138
Average Kentucky Tax Bill
$1,031
Average United States Tax Bill
$2,690
Property Tax Bills Across Nelson County, Kentucky
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Bardstown | $229 | $394 | $1,039 | $1,864 | $2,717 |
| Bloomfield | $240 | $620 | $1,279 | $2,155 | $2,936 |
| Boston | $74 | $334 | $1,005 | $1,872 | $2,714 |
| Chaplin | $163 | $520 | $868 | $1,343 | $1,908 |
| Coxs Creek | $611 | $1,221 | $1,827 | $2,415 | $3,097 |
| Fairfield | $93 | $175 | $655 | $1,046 | $1,380 |
| Lebanon Junction | N/A | N/A | N/A | N/A | N/A |
| Loretto | $464 | $770 | $1,199 | $1,910 | $2,466 |
| New Haven | $31 | $146 | $809 | $1,467 | $2,105 |
| New Hope | $125 | $281 | $827 | $1,477 | $2,250 |
| Springfield | N/A | N/A | N/A | N/A | N/A |
| Taylorsville | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell