Slade, Powell County, Kentucky Property Taxes
The median property tax rate in Slade, KY is 0.90%, which is lower than both the national median of 0.99% and the Kentucky state median of 1.02%. With the median home value in Slade, the typical annual property tax bill is $188, significantly below the national median of $2,690. Property taxes in Slade 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 Slade'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 Slade or another part of Powell County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Slade, Powell County, Kentucky Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.9%
Estimate Property Tax Bill
$360
$334
Ownwell’s Slade Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Slade with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Slade 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 Slade, Powell County, Kentucky
Property taxes in Slade, Kentucky, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Slade is 0.90%, which is lower than the U.S. national median of 0.99%. Local government entities within Slade set these rates annually, and they can vary significantly across different neighborhoods. Each year, Slade 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. For comparison, the 40376 zip code has both the highest and lowest median property tax rate in the area at 0.90%. Understanding how these cities compare with Slade 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 Slade 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 Slade, Powell County, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 40376 | 0.31% | 0.52% | 0.90% | 0.90% | 0.90% |
Source: Ownwell
Property Tax Assessment Values Across Slade, Powell County, Kentucky
In Slade, 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 Slade, 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. Being aware of these valuation processes in Slade helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Slade are both $188, found in the zip code 40376.
Property Tax Assessment Values Across Slade, Powell County, Kentucky
Source: Ownwell
$17,500
$33,750
$50,000
Average Slade Assessed Value
$40,000
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 Slade, Powell County, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 40376 | $8,800 | $20,000 | $40,000 | $75,705 | $106,320 |
Source: Ownwell
Property Tax Bills Across Slade, Powell County, Kentucky
In Slade, located in Powell County, KY, property tax bills are calculated based on the assessed value of a home, which is typically lower than its market value. The local tax rate is applied to this assessed value to determine the annual tax bill. Various factors are considered in this process, including the property's size, location, and condition. For instance, the median home price in Slade is $40,000, and tax bills can range significantly. At the 25th percentile, homeowners might pay around $85, while those at the 75th percentile could see bills up to $495. The highest median tax bill in the area is $188. This variability means that homeowners need to be aware of how property assessments and local tax rates impact their financial obligations. Compared to the national median property tax rate of 0.99%, Slade's rates are relatively modest, offering some financial relief to local homeowners despite the essential role these taxes play in funding community services.
Average Slade Tax Bill
$188
Average Powell County Tax Bill
$302
Average Kentucky Tax Bill
$1,031
Average United States Tax Bill
$2,690
Property Tax Bills Across Slade, Powell County, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 40376 | $40 | $85 | $188 | $495 | $987 |
Source: Ownwell