Stanville, Kentucky Property Taxes
The median property tax rate in Stanville, KY is 1.37%, notably higher than both the national median of 0.99% and Kentucky's state median of 1.02%. With the median home value in Stanville at $26,950, the typical annual property tax bill is $390, which is significantly lower than the national median of $2,690. Property taxes in Stanville are calculated based on the tax assessed value, often lower than the market value due to various exemptions such as those for primary residences and agricultural properties. Understanding Stanville's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Stanville or another part of Pike County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Stanville, Kentucky Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.02%
Estimate Property Tax Bill
$2,040
Ownwell’s Stanville Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Stanville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Stanville 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 Stanville, Kentucky
Property taxes in Stanville, Kentucky, are essential for funding crucial local services, including public schools, road maintenance, and emergency services. The median tax rate in Stanville is 1.37%, significantly higher than the U.S. national median of 0.99%. Local government entities within Stanville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Stanville 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 Stanville's effective property tax rate to other counties in Kentucky and the national median. For comparison, the 41659 zip code has the highest median property tax rate of 1.37%, while the same zip code also has the lowest median tax rate of 1.37%. Understanding how these cities compare with Stanville provides valuable insights into the varying tax landscape across Pike County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Stanville Tax Rate
1.37%
Average Pike County Tax Rate
1.37%
Average Kentucky Tax Rate
1.02%
Average United States Tax Rate
0.99%
Property Tax Rates Across Stanville, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 41659 | 0.21% | 0.81% | 1.37% | 1.45% | 1.51% |
Source: Ownwell
Property Tax Assessment Values Across Stanville, Kentucky
In Stanville, 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 Pike 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 Stanville, 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. The highest median tax bill in Stanville is $390 in the 41659 zip code. Being aware of these valuation processes in Stanville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Stanville Assessed Value
$26,950
Average Pike County Assessed Value
$25,000
Average Kentucky Assessed Value
$110,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Stanville, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 41659 | $5,250 | $16,500 | $26,950 | $56,250 | $111,000 |
Source: Ownwell
Property Tax Bills Across Stanville, Kentucky
In Stanville, property tax bills are calculated based on the assessed value of a home, which is determined by the Pike County assessor. The assessed value takes into account the property's market value and any applicable exemptions or deductions. Once the assessed value is established, the local tax rate is applied to calculate the annual property tax bill. For homeowners in Stanville, the median home price is $26,950, resulting in a range of tax bills. At the 25th percentile, homeowners might pay around $75, while those at the 75th percentile could see bills up to $1,038. The 90th percentile tax bill can reach $1,572. Comparatively, the national median property tax rate is 0.99%, which highlights the relatively low tax burden in Stanville. These property taxes fund essential services such as schools, public safety, and infrastructure. Understanding how these taxes are calculated can help homeowners budget more effectively and potentially identify opportunities for appealing their assessed values or applying for exemptions.
Average Stanville Tax Bill
$390
Average Pike County Tax Bill
$205
Average Kentucky Tax Bill
$1,031
Average United States Tax Bill
$2,690
Property Tax Bills Across Stanville, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 41659 | $48 | $75 | $390 | $1,038 | $1,572 |
Source: Ownwell