Fisherville, Spencer County, Kentucky Property Taxes
The median property tax rate in Fisherville, KY is 0.99%, aligning with the national median of 0.99% but slightly lower than the Kentucky state median of 1.02%. With a median home value of $292,000 in Fisherville, the typical annual property tax bill is $2,730, which is just below the national median of $2,690. Property taxes in Fisherville are based on the tax assessed value, often lower than the market value due to 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 Spencer County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Fisherville, Spencer County, Kentucky Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.99%
Estimate Property Tax Bill
$2,891
$2,683
Ownwell’s Fisherville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate 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 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 Fisherville, Spencer County, Kentucky
Property taxes in Fisherville, Kentucky, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Fisherville is 0.99%, aligning with 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 areas in Kentucky and the national median. For comparison, the 40023 zip code has the highest median property tax rate of 0.99%, while the same zip code also has the lowest median tax rate of 0.99%. Understanding how these areas compare with Fisherville provides valuable insights into the varying tax landscape across Spencer County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Fisherville Tax Rate
0.99%
Average Spencer County Tax Rate
0.98%
Average Kentucky Tax Rate
1.02%
Average United States Tax Rate
0.99%
Property Tax Rates Across Fisherville, Spencer County, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 40023 | 0.81% | 0.98% | 0.99% | 0.99% | 0.99% |
Source: Ownwell
Property Tax Assessment Values Across Fisherville, Spencer 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 Spencer 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. For instance, the highest median tax bill in the area is $2,730 in the 40023 zip code, while the lowest median tax bill is also $2,730 in the same zip code. 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 Fisherville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Fisherville, Spencer County, Kentucky
Source: Ownwell
$76,750
$184,375
$292,000
Average Fisherville Assessed Value
$292,000
Average Spencer County Assessed Value
$210,000
Average Kentucky Assessed Value
$110,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Fisherville, Spencer County, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 40023 | $70,000 | $205,000 | $292,000 | $385,000 | $474,600 |
Source: Ownwell
Property Tax Bills Across Fisherville, Spencer County, Kentucky
In Fisherville, KY, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. Factors such as the home's size, location, and market conditions play a significant role in this assessment. Once the assessed value is established, it is multiplied by the local tax rate to determine the annual tax bill. For instance, with a median home price of $292,000, homeowners can expect varying tax bills depending on their property's specific assessment. The tax bills in Fisherville range significantly. At the 25th percentile, homeowners might pay around $1,837 annually, while those at the 75th percentile could see bills as high as $3,708. A select few, at the 90th percentile, might face tax bills up to $4,633. These figures reflect the broader economic landscape of Spencer County and can influence homeowners' financial planning and property investment decisions. Comparatively, the national median property tax rate is 0.99%, making it essential for Fisherville residents to understand these local nuances.
Average Fisherville Tax Bill
$2,730
Average Spencer County Tax Bill
$1,958
Average Kentucky Tax Bill
$1,031
Average United States Tax Bill
$2,690
Property Tax Bills Across Fisherville, Spencer County, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 40023 | $692 | $1,837 | $2,730 | $3,708 | $4,633 |
Source: Ownwell