Rosine, Ohio County, Kentucky Property Taxes
The median property tax rate in Rosine, KY is 0.96%, slightly below both the national median of 0.99% and the Kentucky state median of 1.02%. With the median home value in Rosine being $9,200, the typical annual property tax bill amounts to $58, significantly lower than the national median of $2,690. Property taxes in Rosine are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Rosine'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 Rosine or another part of Ohio County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Rosine, Ohio County, Kentucky Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.96%
Estimate Property Tax Bill
$88
$82
Ownwell’s Rosine Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Rosine with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Rosine 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 Rosine, Ohio County, Kentucky
Property taxes in Rosine, Kentucky, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Rosine is 0.96%, which is slightly lower than the U.S. national median of 0.99%. Local government entities within Rosine set these rates annually, and they can vary significantly across different neighborhoods. Each year, Rosine 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 Rosine's effective property tax rate to other areas in Kentucky and the national median. For comparison, the 42370 zip code has the same median property tax rate of 0.96%. Understanding how these areas compare with Rosine provides valuable insights into the varying tax landscape across Ohio County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Rosine Tax Rate
0.96%
Average Ohio County Tax Rate
0.96%
Average Kentucky Tax Rate
1.02%
Average United States Tax Rate
0.99%
Property Tax Rates Across Rosine, Ohio County, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 42370 | 0.96% | 0.96% | 0.96% | 0.96% | 0.96% |
Source: Ownwell
Property Tax Assessment Values Across Rosine, Ohio County, Kentucky
In Rosine, 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 Ohio 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 Rosine, 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. Being aware of these valuation processes in Rosine helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The 25th percentile of tax bills is $19, while the 75th percentile is $259, and the 90th percentile reaches up to $529.
Property Tax Assessment Values Across Rosine, Ohio County, Kentucky
Source: Ownwell
$9,200
$25,600
$42,000
Average Rosine Assessed Value
$9,200
Average Ohio County Assessed Value
$23,500
Average Kentucky Assessed Value
$110,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Rosine, Ohio County, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 42370 | $1,400 | $2,000 | $9,200 | $27,000 | $56,920 |
Source: Ownwell
Property Tax Bills Across Rosine, Ohio County, Kentucky
In Rosine, located in Ohio County, KY, property tax bills are calculated based on the assessed value of the property. The assessed value is determined by the county assessor and is intended to reflect the market value of the home. For homeowners in Rosine, the median home price is $9,200, which is significantly lower than the national median. The property tax rate in Ohio County is applied to this assessed value to determine the annual tax bill. Several factors influence the final tax bill, including the property's assessed value and the local tax rate. For instance, the 25th percentile tax bill in Rosine is $19, while the 75th percentile tax bill is $259, and the 90th percentile tax bill can go up to $529. These figures show a range of what homeowners might expect to pay, reflecting the variability in property values and tax rates within the area. Understanding these factors can help homeowners anticipate their annual financial obligations and manage their budgets more effectively.
Average Rosine Tax Bill
$58
Average Ohio County Tax Bill
$192
Average Kentucky Tax Bill
$1,031
Average United States Tax Bill
$2,690
Property Tax Bills Across Rosine, Ohio County, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 42370 | $10 | $19 | $58 | $259 | $529 |
Source: Ownwell