Oldham County, Kentucky Property Taxes
The median property tax rate in Oldham County is 1.24%, which is significantly higher than both the national median of 0.99% and the Kentucky state median of 1.02%. With the median home value in Oldham County at $277,000, the typical annual property tax bill reaches $3,306, surpassing the national median of $2,690. Property taxes in Oldham 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 Oldham 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 La Grange or another part of Oldham County, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Oldham County, Kentucky Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.24%
Estimate Property Tax Bill
$3,435
$3,187
Ownwell’s Oldham County Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner to estimate their annual property taxes in Oldham County with just 2 data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Oldham 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 Oldham County, Kentucky
Property taxes in Oldham County play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Oldham County is 1.24%, which is higher than the U.S. national median of 0.99%. Local government entities within Oldham County set these rates annually, and they can vary significantly between different areas within the county. Each year, Oldham 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 Oldham County's effective property tax rate with other counties in Kentucky and the national median. For comparison, the city of Louisville has one of the higher property tax rates in Kentucky at 1.32%, while the city of Goshen boasts one of the lowest at 1.24%. Analyzing how Oldham County's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Oldham County Tax Rate
1.24%
Average Kentucky Tax Rate
1.02%
Average United States Tax Rate
0.99%
Property Tax Rates Across Oldham County, Kentucky
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Buckner | 1.07% | 1.24% | 1.25% | 1.25% | 1.25% |
| Crestwood | 1.03% | 1.13% | 1.24% | 1.25% | 1.27% |
| Goshen | 1.00% | 1.17% | 1.24% | 1.24% | 1.25% |
| La Grange | 0.99% | 1.11% | 1.25% | 1.26% | 1.27% |
| Louisville | 1.01% | 1.25% | 1.32% | 1.32% | 1.33% |
| Pendleton | 0.71% | 0.91% | 1.25% | 1.26% | 1.36% |
| Pewee Valley | 0.97% | 1.13% | 1.24% | 1.26% | 1.27% |
| Prospect | 1.09% | 1.24% | 1.24% | 1.25% | 1.31% |
| Shelbyville | N/A | N/A | N/A | N/A | N/A |
| Smithfield | 0.88% | 1.15% | 1.25% | 1.25% | 1.25% |
| Westport | 0.67% | 0.97% | 1.25% | 1.27% | 1.29% |
Source: Ownwell
Property Tax Assessment Values Across Oldham County, Kentucky
In Oldham 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 Oldham 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 Oldham 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. In Oldham County, Prospect has the highest median tax bill at $5,407, while Westport has the lowest at $1,895. 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.
Property Tax Assessment Values Across Oldham County, Kentucky
Source: Ownwell
$150,000
$295,000
$440,000
Average Oldham County Assessed Value
$277,000
Average Kentucky Assessed Value
$110,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Oldham County, Kentucky
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Buckner | $230,000 | $270,000 | $300,000 | $357,500 | $409,000 |
| Crestwood | $140,000 | $193,125 | $285,000 | $385,000 | $500,000 |
| Goshen | $190,000 | $225,000 | $312,000 | $500,000 | $735,000 |
| La Grange | $115,000 | $175,000 | $240,000 | $310,000 | $400,000 |
| Louisville | $130,000 | $150,000 | $160,000 | $180,000 | $543,000 |
| Pendleton | $85,000 | $137,500 | $220,000 | $330,000 | $439,000 |
| Pewee Valley | $130,000 | $160,000 | $205,000 | $305,000 | $504,600 |
| Prospect | $235,000 | $307,875 | $435,000 | $560,789 | $723,500 |
| Shelbyville | N/A | N/A | N/A | N/A | N/A |
| Smithfield | $265,000 | $320,000 | $415,000 | $520,000 | $588,700 |
| Westport | $70,000 | $107,000 | $178,750 | $275,000 | $413,000 |
Source: Ownwell
Property Tax Bills Across Oldham County, Kentucky
In Oldham County, KY, property tax bills are calculated based on the assessed value of a home, which is determined by local tax assessors. This assessed value is then multiplied by the applicable tax rate to determine the annual property tax bill. Several factors influence the final tax bill, including the home's market value, local tax rates, and any applicable exemptions or deductions. Homeowners in Oldham County experience a range of property tax bills. For instance, the 25th percentile tax bill stands at $2,252, while the 75th percentile reaches $4,724. At the higher end, the 90th percentile tax bill is $6,509. The city of Prospect has the highest median tax bill at $5,407, contrasting sharply with Westport, where the lowest median tax bill is $1,895. These figures illustrate the variability in property taxes within the county, which can significantly impact homeowners' financial planning and budgeting. Compared to the national median property tax rate of 0.99%, Oldham County's tax rates reflect the local economic conditions and real estate market.
Average Oldham County Tax Bill
$3,306
Average Kentucky Tax Bill
$1,031
Average United States Tax Bill
$2,690
Property Tax Bills Across Oldham County, Kentucky
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Buckner | $2,500 | $3,118 | $3,742 | $4,378 | $5,050 |
| Crestwood | $1,647 | $2,361 | $3,427 | $4,635 | $6,056 |
| Goshen | $2,133 | $2,708 | $3,727 | $5,816 | $8,342 |
| La Grange | $1,275 | $1,951 | $2,826 | $3,757 | $4,805 |
| Louisville | $1,463 | $1,914 | $1,985 | $2,363 | $6,623 |
| Pendleton | $822 | $1,366 | $2,485 | $3,549 | $4,439 |
| Pewee Valley | $1,517 | $1,882 | $2,482 | $3,618 | $6,143 |
| Prospect | $2,619 | $3,727 | $5,407 | $6,927 | $8,730 |
| Shelbyville | N/A | N/A | N/A | N/A | N/A |
| Smithfield | $2,725 | $3,727 | $4,864 | $5,991 | $6,914 |
| Westport | $762 | $1,148 | $1,895 | $3,133 | $4,369 |
Source: Ownwell