Fisherville, Shelby County, Kentucky Property Taxes
The median property tax rate in Fisherville, KY is 1.16%, higher than both the national median of 0.99% and the Kentucky state median of 1.02%. With a median home value of $216,500, the typical annual property tax bill in Fisherville reaches $2,083, slightly below the national median of $2,690. Property taxes in Fisherville 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 Fisherville'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 Fisherville 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
Fisherville, Shelby County, Kentucky Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.16%
Estimate Property Tax Bill
$2,511
$2,331
Ownwell’s Fisherville Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Fisherville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Fisherville to provide an estimate of your property tax bill. This valuable tool helps you understand potential tax liabilities. For those interested in neighborhood-level trends, more localized information is available below. Your property’s assessed value is determined by the county for property tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Fisherville, Shelby County, Kentucky
Property taxes in Fisherville, Kentucky, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Fisherville is 1.16%, higher than both the Kentucky state median and the U.S. national median of 0.99%. Local government entities within Fisherville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Fisherville 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 Fisherville's effective property tax rate to other counties in Kentucky and the national median. For comparison, the 40023 zip code has the highest median property tax rate of 1.16%, while the same zip code also has the lowest median tax rate of 1.16%. Understanding how these cities compare with Fisherville provides valuable insights into the varying tax landscape across Shelby County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Fisherville Tax Rate
1.16%
Average Shelby County Tax Rate
1.15%
Average Kentucky Tax Rate
1.02%
Average United States Tax Rate
0.99%
Property Tax Rates Across Fisherville, Shelby County, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 40023 | 0.91% | 1.04% | 1.16% | 1.18% | 1.19% |
Source: Ownwell
Property Tax Assessment Values Across Fisherville, Shelby County, Kentucky
In Fisherville, 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 Shelby 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 Fisherville, 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 Fisherville is $216,500, and tax bills can vary significantly. For instance, the 25th percentile tax bill is $1,243, while the 75th percentile tax bill is $3,986. The highest median tax bill is $2,083 in zip code 40023, which is also the lowest median tax bill due to uniformity in the area. By understanding these valuation processes, 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 Fisherville, Shelby County, Kentucky
Source: Ownwell
$50,000
$222,500
$395,000
Average Fisherville Assessed Value
$216,500
Average Shelby County Assessed Value
$175,000
Average Kentucky Assessed Value
$110,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Fisherville, Shelby County, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 40023 | $61,500 | $124,250 | $216,500 | $361,000 | $438,883 |
Source: Ownwell
Property Tax Bills Across Fisherville, Shelby County, Kentucky
Property tax bills in Fisherville, Shelby County, KY, are determined by assessing the value of a property and applying the local tax rate to this assessed value. The assessed value is typically a percentage of the property's market value, which can fluctuate based on local real estate trends. Once the assessed value is established, the local tax rate is applied to calculate the annual tax bill. In Fisherville, the median home price is $216,500, with property tax bills ranging from $1,243 at the 25th percentile to $4,941 at the 90th percentile. The median property tax bill in the area is $2,083, which is relatively low compared to the national median property tax rate of 0.99%. Factors such as property improvements, neighborhood developments, and changes in the local tax rate can influence the assessed value and, consequently, the tax bill. This system ensures that homeowners contribute fairly to community services and infrastructure based on their property's value.
Average Fisherville Tax Bill
$2,083
Average Shelby County Tax Bill
$1,854
Average Kentucky Tax Bill
$1,031
Average United States Tax Bill
$2,690
Property Tax Bills Across Fisherville, Shelby County, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 40023 | $712 | $1,243 | $2,083 | $3,986 | $4,941 |
Source: Ownwell