Stamping Ground, Owen County, Kentucky Property Taxes
The median property tax rate in Stamping Ground, KY is 1.20%, notably higher than both the national median of 0.99% and the Kentucky state median of 1.02%. With the median home value in Stamping Ground at $62,000, the typical annual property tax bill amounts to $760, which is lower than the national median of $2,690. Property taxes in Stamping Ground are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Stamping Ground'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 Stamping Ground or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Stamping Ground, Owen County, Kentucky Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.2%
Estimate Property Tax Bill
$744
$690
Ownwell’s Stamping Ground Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Stamping Ground with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Stamping Ground 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 Stamping Ground, Owen County, Kentucky
Property taxes in Stamping Ground, Kentucky, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Stamping Ground is 1.20%, significantly higher than both the Kentucky state median and the U.S. national median of 0.99%. Local government entities within Stamping Ground set these rates annually, and they can vary significantly across different neighborhoods. Each year, Stamping Ground 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 Stamping Ground's effective property tax rate to other counties in Kentucky and the national median. For comparison, the 40379 zip code has the highest median property tax rate of 1.20%, while the same zip code also has the lowest median tax rate of 1.20%. Understanding how these areas compare with Stamping Ground provides valuable insights into the varying tax landscape across Owen County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Stamping Ground Tax Rate
1.20%
Average Owen County Tax Rate
1.18%
Average Kentucky Tax Rate
1.02%
Average United States Tax Rate
0.99%
Property Tax Rates Across Stamping Ground, Owen County, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 40379 | 1.08% | 1.18% | 1.20% | 1.40% | 1.62% |
Source: Ownwell
Property Tax Assessment Values Across Stamping Ground, Owen County, Kentucky
In Stamping Ground, Kentucky, grasping the difference between "market value" and "assessed value" is essential for understanding 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 such as location, property condition, and economic trends. This value is estimated by the Owen County Property Valuation Administrator for tax purposes. The assessed value, on the other hand, 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 Stamping Ground, 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. Understanding these valuation concepts allows property owners to better navigate their tax responsibilities and comprehend how their property taxes are determined. For instance, the zip code 40379 has the highest and lowest median tax bill at $760. By being aware of these valuation processes, homeowners can identify opportunities for protesting assessments or applying for exemptions to effectively manage their tax burden.
Property Tax Assessment Values Across Stamping Ground, Owen County, Kentucky
Source: Ownwell
$27,550
$58,200
$88,850
Average Stamping Ground Assessed Value
$62,000
Average Owen County Assessed Value
$55,000
Average Kentucky Assessed Value
$110,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Stamping Ground, Owen County, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 40379 | $7,920 | $15,000 | $62,000 | $94,100 | $164,980 |
Source: Ownwell
Property Tax Bills Across Stamping Ground, Owen County, Kentucky
In Stamping Ground, KY, property tax bills are calculated based on the assessed value of a home. The local tax rate is applied to this assessed value to determine the annual tax bill. For homeowners in Stamping Ground, the median home price stands at $62,000. Factors influencing the assessed value include the property's size, location, and condition, as well as recent sales of similar properties in the area. Homeowners in Stamping Ground can expect a range of property tax bills. The 25th percentile tax bill is around $174, while those in the 75th percentile pay approximately $1,143. At the higher end, the 90th percentile tax bill reaches up to $1,894. These taxes contribute to funding essential local services such as schools, public safety, and infrastructure. The median property tax rate in Stamping Ground is comparable to the national median rate of 0.99%, making it a significant consideration for homeowners. Understanding how these factors interplay can help residents better anticipate their annual property tax obligations and plan accordingly.
Average Stamping Ground Tax Bill
$760
Average Owen County Tax Bill
$541
Average Kentucky Tax Bill
$1,031
Average United States Tax Bill
$2,690
Property Tax Bills Across Stamping Ground, Owen County, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 40379 | $121 | $174 | $760 | $1,143 | $1,894 |
Source: Ownwell