Pine Ridge, Kentucky Property Taxes
The median property tax rate in Pine Ridge, KY is 0.90%, which is lower than both the national median of 0.99% and the Kentucky state median of 1.02%. With a median home value of $17,500 in Pine Ridge, the typical annual property tax bill is $174, significantly below the national median of $2,690. Property taxes in Pine Ridge are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Pine Ridge'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 Pine Ridge 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
Pine Ridge, Kentucky Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.9%
Estimate Property Tax Bill
$158
Ownwell’s Pine Ridge Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Pine Ridge with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Pine Ridge 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 Pine Ridge, Kentucky
Property taxes in Pine Ridge, Kentucky, are essential in funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Pine Ridge is 0.90%, which is lower than the U.S. national median of 0.99%. Local government entities within Pine Ridge set these rates annually, and they can vary significantly across different neighborhoods. Each year, Pine Ridge 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 Pine Ridge's effective property tax rate to other counties in Kentucky and the national median. For comparison, the zip code 41360 has both the highest and lowest median property tax rate of 0.90%. Understanding how these zip codes compare with Pine Ridge provides valuable insights into the varying tax landscape across Powell County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Pine Ridge Tax Rate
0.90%
Average Powell County Tax Rate
0.90%
Average Kentucky Tax Rate
1.02%
Average United States Tax Rate
0.99%
Property Tax Rates Across Pine Ridge, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 41360 | 0.81% | 0.90% | 0.90% | 0.90% | 0.90% |
Source: Ownwell
Property Tax Assessment Values Across Pine Ridge, Kentucky
In Pine Ridge, 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 Powell 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 Pine Ridge, 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. The median home price in Pine Ridge is $17,500, with tax bills ranging from $71 at the 25th percentile to $516 at the 90th percentile. Notably, the zip code 41360 has both the highest and lowest median tax bill of $174. By understanding 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 Pine Ridge helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Pine Ridge Assessed Value
$17,500
Average Powell County Assessed Value
$40,000
Average Kentucky Assessed Value
$110,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Pine Ridge, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 41360 | $4,500 | $8,750 | $17,500 | $39,000 | $57,200 |
Source: Ownwell
Property Tax Bills Across Pine Ridge, Kentucky
In Pine Ridge, KY, property tax bills are calculated based on the assessed value of the home. The assessed value is determined by the local tax assessor and is often a percentage of the market value of the property. Various factors such as property size, location, and improvements made to the home can influence this assessed value. Additionally, local tax rates set by the county and other taxing districts are applied to this value to determine the total tax bill. For homeowners in Pine Ridge, the median home price is $17,500, which is significantly lower than the national median. Consequently, property tax bills in this area are also relatively low. The 25th percentile tax bill is $71, while the 75th percentile reaches $357, and the 90th percentile is $516. These figures illustrate the range of tax bills homeowners can expect, depending on their property's assessed value and the applicable tax rates. Understanding these factors helps homeowners anticipate their annual property tax obligations and manage their finances accordingly.
Average Pine Ridge Tax Bill
$174
Average Powell County Tax Bill
$302
Average Kentucky Tax Bill
$1,031
Average United States Tax Bill
$2,690
Property Tax Bills Across Pine Ridge, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 41360 | $40 | $71 | $174 | $357 | $516 |
Source: Ownwell