Nicholas County, Kentucky Property Taxes
The median property tax rate in Nicholas County is 0.89%, 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 Nicholas County at $75,000, the typical annual property tax bill is $478, significantly below the national median of $2,690. Property taxes in Nicholas County are calculated based on the tax assessed value, often lower than the actual market value due to property tax exemptions such as primary residence and agricultural exemptions. Understanding Nicholas 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 Carlisle or another part of Nicholas County, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Nicholas County, Kentucky Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.89%
Estimate Property Tax Bill
$668
$619
Ownwell’s Nicholas County Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner to estimate their annual property taxes in Nicholas County with just 2 data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Nicholas 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 Nicholas County, Kentucky
Property taxes in Nicholas County play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Nicholas County is 0.89%, which is lower than both the Kentucky state median and the U.S. national median of 0.99%. Local government entities within Nicholas County set these rates annually, and they can vary significantly between different areas within the county. Each year, Nicholas 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 Nicholas County's effective property tax rate with other counties in Kentucky and the national median. For comparison, the city of Paris has one of the higher property tax rates in Kentucky at 0.92%, while the city of Sharpsburg boasts one of the lowest at 0.56%. Analyzing how Nicholas County's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Nicholas County Tax Rate
0.89%
Average Kentucky Tax Rate
1.02%
Average United States Tax Rate
0.99%
Property Tax Rates Across Nicholas County, Kentucky
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Carlisle | 0.26% | 0.47% | 0.89% | 0.95% | 0.95% |
| Cynthiana | 0.22% | 0.33% | 0.59% | 0.95% | 0.95% |
| Ewing | 0.25% | 0.38% | 0.65% | 0.95% | 0.95% |
| Moorefield | 0.19% | 0.38% | 0.63% | 0.95% | 0.95% |
| Paris | 0.38% | 0.57% | 0.92% | 0.95% | 0.96% |
| Sharpsburg | 0.24% | 0.34% | 0.56% | 0.95% | 0.95% |
Source: Ownwell
Property Tax Assessment Values Across Nicholas County, Kentucky
In Nicholas 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 Nicholas 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 Nicholas 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 Nicholas County will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively. In Nicholas County, the highest median tax bill is found in Paris at $888, while the lowest is in Moorefield at $377. This range highlights the importance of understanding your property’s assessed value and exploring ways to potentially reduce your tax bill.
Property Tax Assessment Values Across Nicholas County, Kentucky
Source: Ownwell
$60,000
$97,875
$135,750
Average Nicholas County Assessed Value
$75,000
Average Kentucky Assessed Value
$110,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Nicholas County, Kentucky
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Carlisle | $16,343 | $42,000 | $74,000 | $125,000 | $210,000 |
| Cynthiana | $19,670 | $45,000 | $85,000 | $171,250 | $256,900 |
| Ewing | $13,160 | $40,650 | $82,500 | $161,500 | $247,450 |
| Moorefield | $13,400 | $39,300 | $60,000 | $100,000 | $198,000 |
| Paris | $39,650 | $52,250 | $135,750 | $177,500 | $212,875 |
| Sharpsburg | $18,500 | $50,000 | $91,000 | $168,850 | $229,944 |
Source: Ownwell
Property Tax Bills Across Nicholas County, Kentucky
In Nicholas County, KY, property tax bills are determined based on the assessed value of a home. The assessed value is typically a percentage of the market value of the property. Several factors contribute to this assessment, including the size, location, and condition of the property. Once the assessed value is established, local tax rates, which can vary by jurisdiction, are applied to calculate the final tax bill. For homeowners in Nicholas County, the median home price is $75,000. Tax bills can vary significantly, with the 25th percentile at $224, the 75th percentile at $890, and the 90th percentile reaching $1480. This variation highlights how different property characteristics and local tax rates influence the overall tax burden. Comparatively, the median tax bill in Paris is $888, while in Moorefield, it's $377, reflecting regional differences within the county. Understanding these factors helps homeowners anticipate their property tax responsibilities and budget accordingly.
Average Nicholas County Tax Bill
$478
Average Kentucky Tax Bill
$1,031
Average United States Tax Bill
$2,690
Property Tax Bills Across Nicholas County, Kentucky
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Carlisle | $92 | $226 | $478 | $891 | $1,480 |
| Cynthiana | $115 | $251 | $469 | $863 | $1,524 |
| Ewing | $32 | $246 | $543 | $910 | $1,645 |
| Moorefield | $60 | $136 | $377 | $615 | $955 |
| Paris | $379 | $492 | $888 | $1,183 | $1,521 |
| Sharpsburg | $96 | $198 | $574 | $1,029 | $1,420 |
Source: Ownwell