Taylor County, Kentucky Property Taxes
The median property tax rate in Taylor County is 1.02%, which aligns with the Kentucky state median but is still higher than the national median of 0.99%. With a median home value of $95,000, the typical annual property tax bill in Taylor County amounts to $681, considerably lower than the national median of $2,690. Property taxes here are calculated based on the assessed value, which is typically lower than the market value due to various exemptions such as those for primary residences and agricultural properties. Understanding Taylor County's property tax system, exploring available exemptions, and identifying opportunities for property tax reductions can lead to significant annual savings. Whether you reside in Campbellsville or another part of Taylor County, gaining comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Taylor County, Kentucky Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.02%
Estimate Property Tax Bill
$969
$899
Ownwell’s Taylor County Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Taylor County with just two data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Taylor County to estimate your property tax bill. This insight helps you understand potential tax liabilities. If you’d like to see trends on a city level, scroll down to navigate to a more local informational page. Your property assessed value is the value assigned to your property by your county for property tax calculations. Assessed value takes into account any exemptions you may have on your property.
Property Tax Rates Across Taylor County, Kentucky
Property taxes in Taylor County play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Taylor County is 1.02%, which is higher than both the Kentucky state median and the U.S. national median of 0.99%. Local government entities within Taylor County set these rates annually, and they can vary significantly between different areas within the county. Each year, Taylor County estimates its required budget to maintain services for the upcoming fiscal year and divides this budget by the total value of all taxable property in the jurisdiction, resulting in the property tax rate. Although tax rates and budgets are influenced by laws and voter input, this calculation forms the basic process for setting property tax rates. The following data compares Taylor County's effective property tax rate with other counties in Kentucky and the national median. For comparison, the city of Buffalo has one of the higher property tax rates in Kentucky at 1.02%, while the city of Campbellsville boasts one of the lowest at 0.84%. Analyzing how Taylor County's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Taylor County Tax Rate
1.02%
Average Kentucky Tax Rate
1.02%
Average United States Tax Rate
0.99%
Property Tax Rates Across Taylor County, Kentucky
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Bradfordsville | 0.40% | 1.02% | 1.02% | 1.02% | 1.02% |
| Buffalo | 0.23% | 1.02% | 1.02% | 1.02% | 1.02% |
| Campbellsville | 0.42% | 0.42% | 0.84% | 1.02% | 1.02% |
| Columbia | 0.30% | 1.02% | 1.02% | 1.02% | 1.02% |
| Elk Horn | 0.40% | 0.74% | 1.02% | 1.02% | 1.02% |
| Mannsville | 1.02% | 1.02% | 1.02% | 1.02% | 1.02% |
Source: Ownwell
Property Tax Assessment Values Across Taylor County, Kentucky
In Taylor County, understanding the difference between "market value" and "assessed value" is key to comprehending property taxes. The market value represents the price a willing buyer would pay to a willing seller in an open, competitive market, considering location, property condition, and current economic trends. For tax purposes, this value is estimated by the Taylor County Appraisal District. The assessed value, however, 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. Assessment notices in Taylor County are typically mailed in the spring, usually by the middle of April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By distinguishing between these valuation concepts, property owners can better navigate their tax responsibilities and understand how their property taxes are affected. The city with the highest median tax bill in Taylor County is Campbellsville at $702, while the lowest is in Bradfordsville at $283. Being aware of these valuation processes in Taylor County will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively.
Average Taylor County Assessed Value
$95,000
Average Kentucky Assessed Value
$110,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Taylor County, Kentucky
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Bradfordsville | $10,800 | $16,500 | $33,000 | $70,000 | $119,900 |
| Buffalo | $17,920 | $27,000 | $58,100 | $80,000 | $129,251 |
| Campbellsville | $25,000 | $57,000 | $98,000 | $150,000 | $219,000 |
| Columbia | $15,840 | $23,325 | $55,400 | $87,088 | $139,700 |
| Elk Horn | $13,447 | $30,000 | $69,000 | $112,000 | $152,607 |
| Mannsville | $10,400 | $22,000 | $37,500 | $75,000 | $91,050 |
Source: Ownwell
Property Tax Bills Across Taylor County, Kentucky
In Taylor County, KY, property tax bills are determined by multiplying the assessed value of a property by the local tax rate. The assessed value is typically a percentage of the property's market value, which is evaluated by the county assessor. Several factors influence the tax bill, including the property's location, size, and condition. For instance, properties in Campbellsville have the highest median tax bill at $702, while those in Bradfordsville have the lowest at $283. Homeowners in Taylor County can expect their tax bills to vary significantly. The 25th percentile tax bill is around $280, suggesting that some residents pay relatively low property taxes. However, at the 75th percentile, the tax bill jumps to $1,308, and at the 90th percentile, it reaches $1,936. These figures highlight the disparity in property tax burdens within the county. Compared to the national median property tax rate of 0.99%, Taylor County offers a range of tax bills that can significantly impact homeowners' financial planning and budgeting.
Average Taylor County Tax Bill
$681
Average Kentucky Tax Bill
$1,031
Average United States Tax Bill
$2,690
Property Tax Bills Across Taylor County, Kentucky
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Bradfordsville | $76 | $138 | $283 | $568 | $1,129 |
| Buffalo | $106 | $211 | $471 | $770 | $1,202 |
| Campbellsville | $126 | $291 | $702 | $1,332 | $1,977 |
| Columbia | $92 | $175 | $402 | $813 | $1,321 |
| Elk Horn | $102 | $248 | $566 | $998 | $1,524 |
| Mannsville | $98 | $213 | $377 | $651 | $892 |
Source: Ownwell