Combs, Kentucky Property Taxes
The median property tax rate in Combs, KY is 1.04%, slightly higher than both the national median of 0.99% and the Kentucky state median of 1.02%. With the median home value in Combs, the typical annual property tax bill amounts to $73, which is significantly lower than the national median of $2,690. Property taxes in Combs 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 Combs'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 Combs 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
Combs, Kentucky Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.04%
Estimate Property Tax Bill
$83
-$872
Ownwell’s Combs Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Combs with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Combs 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 Combs, Kentucky
Property taxes in Combs, Kentucky, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Combs is 0.63%, lower than both the Kentucky state median of 0.83% and the U.S. national median of 0.99%. Local government entities within Combs set these rates annually, and they can vary significantly across different neighborhoods. Each year, Combs 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. Understanding how these cities compare with Combs provides valuable insights into the varying tax landscape across Perry County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Combs Tax Rate
1.04%
Average Perry County Tax Rate
1.04%
Average Kentucky Tax Rate
1.02%
Average United States Tax Rate
0.99%
Property Tax Rates Across Combs, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 41729 | 1.04% | 1.04% | 1.04% | 1.04% | 1.04% |
Source: Ownwell
Property Tax Assessment Values Across Combs, Kentucky
In Combs, 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 Perry County Appraisal District 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 Combs, 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. For example, the 25th percentile tax bill is $52, while the 75th percentile tax bill is $224, and the 90th percentile tax bill is $450. 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 Combs helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Combs Assessed Value
$8,000
Average Perry County Assessed Value
$11,075
Average Kentucky Assessed Value
$110,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Combs, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 41729 | $3,000 | $5,000 | $8,000 | $28,300 | $45,000 |
Source: Ownwell
Property Tax Bills Across Combs, Kentucky
In Combs, located in Perry County, KY, property tax bills are calculated based on the assessed value of the home. The median home price in Combs is $8,000, which plays a significant role in determining the tax bill. The property tax rate in this area is applied to the assessed value to generate the annual tax bill. Several factors influence this calculation, including property size, location, and any applicable exemptions. Homeowners in Combs can expect their tax bills to vary significantly. For example, those at the 25th percentile pay around $52 annually, while those at the 75th percentile face about $224. At the high end, the 90th percentile tax bill reaches $450. These figures demonstrate how property taxes can impact homeowners differently based on their property's assessed value. Understanding these factors is crucial for homeowners, as property taxes contribute to local services and infrastructure. While the national median property tax rate is 0.99%, the rates in Combs may differ, affecting how much residents ultimately pay.
Average Combs Tax Bill
$73
Average Perry County Tax Bill
$104
Average Kentucky Tax Bill
$1,031
Average United States Tax Bill
$2,690
Property Tax Bills Across Combs, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 41729 | $30 | $52 | $73 | $224 | $450 |
Source: Ownwell