Dunnville, Russell County, Kentucky Property Taxes
The median property tax rate in Dunnville, KY is 0.97%, slightly lower than both the national median of 0.99% and the Kentucky state median of 1.02%. With the median home value in Dunnville at $50,000, the typical annual property tax bill is $426, significantly below the national median of $2,690. Property taxes in Dunnville 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 Dunnville'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 Dunnville 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
Dunnville, Russell County, Kentucky Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.97%
Estimate Property Tax Bill
$485
$450
Ownwell’s Dunnville Property Tax Bill Calculator is an essential tool for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Dunnville. By simply entering your property's estimated assessed value, the calculator uses the median tax rate in Dunnville to provide an accurate estimate of your property tax bill. This valuable resource helps you understand your potential tax liabilities with ease. For those interested in more granular data, localized information is available further down the page. Your property’s assessed value, determined by the county, is used for property tax calculations and takes into account any applicable exemptions.
Property Tax Rates Across Dunnville, Russell County, Kentucky
Property taxes in Dunnville, Kentucky, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Dunnville is 0.97%, slightly below the U.S. national median of 0.99%. Local government entities within Dunnville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Dunnville 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 Dunnville's effective property tax rate to other counties in Kentucky and the national median. For comparison, the 42528 zip code has both the highest and lowest median property tax rate of 0.97%. Understanding how these cities compare with Dunnville provides valuable insights into the varying tax landscape across Russell County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Dunnville Tax Rate
0.97%
Average Russell County Tax Rate
0.97%
Average Kentucky Tax Rate
1.02%
Average United States Tax Rate
0.99%
Property Tax Rates Across Dunnville, Russell County, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 42528 | 0.33% | 0.69% | 0.97% | 0.97% | 0.97% |
Source: Ownwell
Property Tax Assessment Values Across Dunnville, Russell County, Kentucky
In Dunnville, 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 local 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 Dunnville, 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. Dunnville's median home price is $50,000, with tax bills varying significantly. The 25th percentile tax bill is $97, while the 75th percentile is $703, and the 90th percentile reaches $1,298. The highest and lowest median tax bills both stand at $426 in zip code 42528. Being aware of these valuation processes in Dunnville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Dunnville, Russell County, Kentucky
Source: Ownwell
$14,000
$72,000
$130,000
Average Dunnville Assessed Value
$50,000
Average Russell County Assessed Value
$46,000
Average Kentucky Assessed Value
$110,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Dunnville, Russell County, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 42528 | $3,940 | $16,250 | $50,000 | $91,000 | $140,920 |
Source: Ownwell
Property Tax Bills Across Dunnville, Russell County, Kentucky
In Dunnville, KY, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. For example, if the median home price is $50,000, the tax rate is applied to this assessed value to calculate the annual tax bill. Factors that influence the assessed value include the property's location, size, and condition. Homeowners in Dunnville can expect a wide range in their property tax bills. The 25th percentile tax bill is around $97, while the 75th percentile tax bill reaches up to $703. For those at the higher end, the 90th percentile tax bill can be as high as $1,298. Comparatively, the highest and lowest median tax bills in the region are both $426, indicating some consistency within specific areas. These property taxes fund local services such as schools, emergency services, and infrastructure, directly impacting the community. While Dunnville's rates may seem modest, they can significantly affect homeowners' annual expenses, especially when compared to the national median property tax rate of 0.99%.
Average Dunnville Tax Bill
$426
Average Russell County Tax Bill
$357
Average Kentucky Tax Bill
$1,031
Average United States Tax Bill
$2,690
Property Tax Bills Across Dunnville, Russell County, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 42528 | $19 | $97 | $426 | $703 | $1,298 |
Source: Ownwell