Coxs Creek, Nelson County, Kentucky Property Taxes
The median property tax rate in Coxs Creek, KY is 1.10%, slightly higher than both the national median of 0.99% and the Kentucky state median of 1.02%. With the median home value in Coxs Creek at $180,500, the typical annual property tax bill reaches $1,827, which is below the national median of $2,690. Property taxes in Coxs Creek are calculated based on the tax assessed value, often lower than the market value due to exemptions such as primary residence and agricultural exemptions. Understanding Coxs Creek'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 Coxs Creek or another part of Nelson County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Coxs Creek, Nelson County, Kentucky Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.1%
Estimate Property Tax Bill
$1,986
$1,842
Ownwell’s Coxs Creek Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Coxs Creek with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Coxs Creek 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 Coxs Creek, Nelson County, Kentucky
Property taxes in Coxs Creek, Kentucky, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Coxs Creek is 1.10%, which is higher than the U.S. national median of 0.99%. Local government entities within Coxs Creek set these rates annually, and they can vary significantly across different neighborhoods. Each year, Coxs Creek 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 Coxs Creek's effective property tax rate to other areas in Nelson County and the national median. For comparison, the 40013 zip code has the highest median property tax rate of 1.10%, while the lowest median tax rate is also 1.10%. Understanding how these areas compare with Coxs Creek 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 Coxs Creek Tax Rate
1.10%
Average Nelson County Tax Rate
1.06%
Average Kentucky Tax Rate
1.02%
Average United States Tax Rate
0.99%
Property Tax Rates Across Coxs Creek, Nelson County, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 40013 | 0.68% | 0.89% | 1.10% | 1.12% | 1.15% |
Source: Ownwell
Property Tax Assessment Values Across Coxs Creek, Nelson County, Kentucky
In Coxs Creek, 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 Coxs Creek, 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. The median home price in Coxs Creek is $180,500, with tax bills ranging from $1,221 at the 25th percentile to $3,097 at the 90th percentile. The highest and lowest median tax bill in the area is $1,827, found in zip code 40013. 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 Coxs Creek helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Coxs Creek, Nelson County, Kentucky
Source: Ownwell
$76,900
$128,700
$180,500
Average Coxs Creek Assessed Value
$180,500
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 Coxs Creek, Nelson County, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 40013 | $69,360 | $133,800 | $180,500 | $249,000 | $345,900 |
Source: Ownwell
Property Tax Bills Across Coxs Creek, Nelson County, Kentucky
In Coxs Creek, Nelson County, KY, property tax bills are calculated based on the assessed value of a home, which is determined by the local property assessor. The assessed value is then multiplied by the local tax rate to generate the annual tax bill. Factors such as the home’s location, size, and condition play a significant role in determining its assessed value. For instance, the median home price in Coxs Creek is $180,500. Homeowners in this area can expect a range of property tax bills. At the 25th percentile, the tax bill is approximately $1,221, while at the 75th percentile, it reaches around $2,415. For those in the 90th percentile, the tax bill can be as high as $3,097. These figures indicate a significant variance in tax liabilities based on property values and other determining factors. Compared to the national median property tax rate of 0.99%, homeowners in Coxs Creek experience a diverse range of tax obligations, impacting their overall financial planning and homeownership costs.
Average Coxs Creek Tax Bill
$1,827
Average Nelson County Tax Bill
$1,138
Average Kentucky Tax Bill
$1,031
Average United States Tax Bill
$2,690
Property Tax Bills Across Coxs Creek, Nelson County, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 40013 | $611 | $1,221 | $1,827 | $2,415 | $3,097 |
Source: Ownwell