Stamping Ground, Kentucky Property Taxes
The median property tax rate in Stamping Ground, KY is 0.46%, significantly lower than both the national median of 0.99% and the Kentucky state median of 1.02%. With a median home value of $209,358 in Stamping Ground, the typical annual property tax bill amounts to $921, considerably less than the national median of $2,690. Property taxes in Stamping Ground are determined based on the tax assessed value, which is often lower than the market value due to various exemptions such as those for primary residences and agricultural properties. Understanding the property tax system in Stamping Ground, exploring available exemptions, and identifying opportunities for reductions can result in substantial annual savings. Whether you're in the heart of Stamping Ground or another part of Scott County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Stamping Ground, Kentucky Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.46%
Estimate Property Tax Bill
$963
Ownwell’s Stamping Ground Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Stamping Ground with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Stamping Ground 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 Stamping Ground, Kentucky
Property taxes in Stamping Ground, Kentucky, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Stamping Ground is 0.46%, notably lower than the U.S. national median of 0.99%. Local government entities within Stamping Ground set these rates annually, and they can vary significantly across different neighborhoods. Each year, Stamping Ground 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 Stamping Ground's effective property tax rate to other counties in Kentucky and the national median. For comparison, the zip code 40379 has both the highest and lowest median property tax rate of 0.46%. Understanding how these cities compare with Stamping Ground provides valuable insights into the varying tax landscape across Scott County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Stamping Ground Tax Rate
0.46%
Average Scott County Tax Rate
0.68%
Average Kentucky Tax Rate
1.02%
Average United States Tax Rate
0.99%
Property Tax Rates Across Stamping Ground, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 40379 | 0.13% | 0.24% | 0.46% | 0.63% | 0.73% |
Source: Ownwell
Property Tax Assessment Values Across Stamping Ground, Kentucky
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Stamping Ground, KY. 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 Scott 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 Stamping Ground, 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. For example, the median home price in Stamping Ground is $209,358, with tax bills ranging from $407 at the 25th percentile to $2,454 at the 90th percentile. The highest and lowest median tax bills both stand at $921 in zip code 40379. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Stamping Ground, Kentucky
Source: Ownwell
$196,100
$330,900
$465,700
Average Stamping Ground Assessed Value
$209,358
Average Scott County Assessed Value
$199,800
Average Kentucky Assessed Value
$110,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Stamping Ground, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 40379 | $86,452 | $127,725 | $209,358 | $315,421 | $454,585 |
Source: Ownwell
Property Tax Bills Across Stamping Ground, Kentucky
In Stamping Ground, KY, property tax bills are calculated based on the assessed value of a home. The local tax rate in Scott County is applied to this assessed value to determine the annual tax bill. Several factors influence the assessed value, including the market value of similar homes in the area and any improvements made to the property. Homeowners in Stamping Ground typically see a range of tax bills. At the 25th percentile, the tax bill is around $407, while at the 75th percentile, it can reach approximately $1,670. For those at the 90th percentile, the tax bill can go as high as $2,454. This variability means that while some homeowners pay relatively low taxes, others may face higher bills, depending on their property’s assessed value. Compared to the national median property tax rate of 0.99%, the tax bills in Stamping Ground reflect the local economic conditions and property values, impacting homeowners' financial planning and budgeting.
Average Stamping Ground Tax Bill
$921
Average Scott County Tax Bill
$1,297
Average Kentucky Tax Bill
$1,031
Average United States Tax Bill
$2,690
Property Tax Bills Across Stamping Ground, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 40379 | $187 | $407 | $921 | $1,670 | $2,454 |
Source: Ownwell