Bardstown, Nelson County, Kentucky Property Taxes
The median property tax rate in Bardstown, KY is 0.83%, which is notably lower than both the national median of 0.99% and the Kentucky state median of 1.02%. With a median home value of $150,000 in Bardstown, the typical annual property tax bill amounts to $1,039, falling short of the national median of $2,690. Property taxes in Bardstown are determined based on the tax assessed value, which is often less than the market value due to various exemptions such as those for primary residences and agricultural properties. Gaining a thorough understanding of Bardstown's property tax system, exploring the available exemptions, and identifying potential reductions can result in substantial annual savings. Whether you're situated in the heart of Bardstown or another part of Nelson County, comprehending the local property tax system is advantageous for both homeowners and real estate investors.
Last Updated June 14, 2024
Bardstown, Nelson County, Kentucky Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.83%
Estimate Property Tax Bill
$1,245
$1,155
Ownwell’s Bardstown Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Bardstown with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Bardstown 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 Bardstown, Nelson County, Kentucky
Property taxes in Bardstown, Kentucky, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Bardstown is 0.83%, which is lower than both the Kentucky state median and the U.S. national median of 0.99%. Local government entities within Bardstown set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bardstown 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 Bardstown's effective property tax rate to other counties in Kentucky and the national median. For comparison, the 40004 zip code has the highest median property tax rate of 0.83%, while the same zip code also has the lowest median tax rate of 0.83%. Understanding how these cities compare with Bardstown provides valuable insights into the varying tax landscape across Nelson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bardstown Tax Rate
0.83%
Average Nelson County Tax Rate
1.06%
Average Kentucky Tax Rate
1.02%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bardstown, Nelson County, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 40004 | 0.30% | 0.35% | 0.83% | 1.10% | 1.13% |
Source: Ownwell
Property Tax Assessment Values Across Bardstown, Nelson County, Kentucky
In Bardstown, 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 Nelson 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 Bardstown, 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. The median home price in Bardstown is $150,000, with tax bills ranging from $394 at the 25th percentile to $2,717 at the 90th percentile. The zip code 40004 has the highest and lowest median tax bill of $1,039. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Bardstown, Nelson County, Kentucky
Source: Ownwell
$76,900
$128,700
$180,500
Average Bardstown Assessed Value
$150,000
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 Bardstown, Nelson County, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 40004 | $56,800 | $96,400 | $150,000 | $221,450 | $318,426 |
Source: Ownwell
Property Tax Bills Across Bardstown, Nelson County, Kentucky
In Bardstown, Nelson County, KY, property tax bills are calculated based on the assessed value of the property. The local tax rate is applied to this assessed value to determine the annual tax bill. For instance, the median home price in Bardstown is $150,000. The tax bills can vary significantly, with the 25th percentile tax bill being $394, and the 75th percentile reaching $1,864. At the higher end, the 90th percentile tax bill is $2,717. Several factors influence the assessed value, including the property's market value, location, and any improvements made. Compared to the national median property tax rate of 0.99%, Bardstown's tax rates can seem more favorable or higher depending on the specific property and its assessed value. For homeowners, this means that understanding how their property is assessed and staying informed about local tax rates is crucial. This knowledge can help in budgeting for annual expenses and planning for any potential appeals or exemptions that may be applicable.
Average Bardstown Tax Bill
$1,039
Average Nelson County Tax Bill
$1,138
Average Kentucky Tax Bill
$1,031
Average United States Tax Bill
$2,690
Property Tax Bills Across Bardstown, Nelson County, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 40004 | $229 | $394 | $1,039 | $1,864 | $2,717 |
Source: Ownwell