Taylorsville, Spencer County, Kentucky Property Taxes
Median Taylorsville, KY effective property tax rate: 0.98%, significantly lower than the national median of 1.02%, but lower than the Kentucky state median of 1.02%.
Median Taylorsville, KY home value: $212,500
Median annual Taylorsville, KY tax bill: $1,978, $422 lower than the national median property tax bill of $2,400.
How are property taxes in Spencer calculated?
Property taxes in Taylorsville, 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 Taylorsville’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Taylorsville, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Taylorsville, Spencer County, Kentucky Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.98%
Estimate Property Tax Bill
$2,083
$1,933
Property Tax Rates Across Taylorsville, Spencer County, Kentucky
Local government entities determine tax rates, which can vary significantly within a state. Each year, counties estimate their necessary budgets to provide essential services and divide this by the total value of all taxable property within their jurisdiction. This calculation determines the property tax rate. Although votes and laws play a role in establishing tax rates and budgets, this is essentially the annual process.
Now, let's delve into a comparison of Taylorsville’s effective property tax rate with other cities in Kentucky, as well as the median property tax rates in Kentucky and the U.S. Taylorsville, located in Spencer County, has a median property tax rate of 0.98%. This rate aligns with the highest and lowest median tax rates in the area, both recorded at 0.98% in the zip code 40071. When compared to the national median property tax rate of 1.02%, Taylorsville's rate is slightly lower. Additionally, the national median property tax bill stands at $2,400, offering a broader context for understanding local tax rates.
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 Taylorsville Tax Rate
0.98%
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 Spencer County Tax Rate
0.98%
Median Effective Kentucky Tax Rate
1.02%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Taylorsville, Spencer County, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 40071 | 0.77% | 0.98% | 0.98% | 0.98% | 0.99% |
Source: Ownwell
Property Tax Assessment Values Across Taylorsville, Spencer County, Kentucky
When examining property taxes in Taylorsville, 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 Spencer 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.
In Spencer County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of May. 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 Taylorsville. For example, the median home price in Taylorsville is $212,500, with tax bills ranging significantly across the county. Zip code 40071 has the highest median home price at $212,500.
Property Tax Assessment Values Across Taylorsville, Spencer County, Kentucky
Source: Ownwell
$76,750
$184,375
$292,000
Median Taylorsville Market Value
$212,500
Median Spencer County Market Value
$210,000
Median Kentucky Market Value
$110,000
Median United States Market Value
$235,294
Property Tax Assessment Values Across Taylorsville, Spencer County, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 40071 | $30,000 | $111,225 | $212,500 | $289,900 | $360,000 |
Source: Ownwell
Property Tax Bills Across Taylorsville, Spencer County, Kentucky
In Taylorsville, Spencer County, KY, property tax bills are calculated based on the assessed value of a homeowner's property. The local government determines this value, which usually reflects a percentage of the property's market value. Homeowners in Taylorsville typically see tax bills that range from $998 at the 25th percentile to $3,462 at the 90th percentile. The median tax bill in the area is $1,978, which is below the national median property tax bill of $2,400. This lower tax bill can be attributed to the region's assessed property values and local tax rates. However, these bills can still be a significant expense for homeowners.
Ownwell offers assistance by reviewing your property’s assessed value to ensure it aligns with current market conditions. If discrepancies are found, Ownwell can help file an appeal to potentially lower the tax bill. By leveraging expert knowledge and experience, Ownwell aims to help homeowners reduce their property tax burden, ensuring they pay only what is fair and necessary.
Median Taylorsville Tax Bill
$1,978
Median Spencer County Tax Bill
$1,958
Median Kentucky Tax Bill
$1,031
Median United States Tax Bill
$2,400
Property Tax Bills Across Taylorsville, Spencer County, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 40071 | $278 | $998 | $1,978 | $2,736 | $3,462 |
Source: Ownwell