Berea, Rockcastle County, Kentucky Property Taxes
Median Berea, KY effective property tax rate: 0.83%, significantly lower than the national median of 1.02%, but lower than the Kentucky state median of 1.02%.
Median Berea, KY home value: $40,000
Median annual Berea, KY tax bill: $240, $2,160 lower than the national median property tax bill of $2,400.
How are property taxes in Rockcastle calculated?
Property taxes in Berea, KY are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.
Understanding Berea’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Berea, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Berea, Rockcastle County, Kentucky Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.83%
Estimate Property Tax Bill
$332
$308
Property Tax Rates Across Berea, Rockcastle County, Kentucky
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Berea Tax Rate
0.83%
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Rockcastle County Tax Rate
0.83%
Median Effective Kentucky Tax Rate
1.02%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Berea, Rockcastle County, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 40403 | 0.37% | 0.83% | 0.83% | 0.83% | 0.83% |
Source: Ownwell
Property Tax Assessment Values Across Berea, Rockcastle County, Kentucky
When examining property taxes in Berea, KY, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Rockcastle County appraisal district estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.
Assessment notices: In Rockcastle County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of April. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Berea. For example, the median home price in Berea is $40,000, with tax bills ranging significantly across the county. Zip code 40403 has the highest median home price at $40,000.
Property Tax Assessment Values Across Berea, Rockcastle County, Kentucky
Source: Ownwell
$20,000
$40,000
$60,000
Median Berea Market Value
$40,000
Median Rockcastle County Market Value
$48,500
Median Kentucky Market Value
$110,000
Median United States Market Value
$235,294
Property Tax Assessment Values Across Berea, Rockcastle County, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 40403 | $4,000 | $10,000 | $40,000 | $74,125 | $124,750 |
Source: Ownwell
Property Tax Bills Across Berea, Rockcastle County, Kentucky
Property tax bills in Berea, Rockcastle County, Kentucky, are determined based on the assessed value of a property, which is typically a percentage of the market value. The local tax rate is then applied to this assessed value to calculate the tax bill. Factors such as property location, size, and improvements can influence the assessed value. In Berea, the median property tax bill is notably lower than the national median of $2,400, with the highest median tax bill in the area being only $240. This can be beneficial for homeowners, but it also means that any increase in assessed value or tax rate can significantly impact their tax bills.
Ownwell can assist homeowners by providing expertise in property tax appeals and exemptions, potentially lowering their tax liabilities. By analyzing property assessments and identifying discrepancies, Ownwell helps ensure homeowners are not overpaying. This service is invaluable in areas like Berea, where even small adjustments can lead to significant savings, easing the financial burden on property owners.
Median Berea Tax Bill
$240
Median Rockcastle County Tax Bill
$286
Median Kentucky Tax Bill
$1,031
Median United States Tax Bill
$2,400
Property Tax Bills Across Berea, Rockcastle County, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 40403 | $33 | $77 | $240 | $497 | $934 |
Source: Ownwell