Campbellsville, Taylor County, Kentucky Property Taxes
The median property tax rate in Campbellsville, KY is 0.84%, which is lower than both the national median of 0.99% and the Kentucky state median of 1.02%. With the median home value in Campbellsville at $98,000, the typical annual property tax bill amounts to $702, significantly below the national median of $2,690. Property taxes in Campbellsville 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 Campbellsville'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 Campbellsville 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
Campbellsville, Taylor County, Kentucky Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.84%
Estimate Property Tax Bill
$823
$764
Ownwell’s Campbellsville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Campbellsville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Campbellsville 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 Campbellsville, Taylor County, Kentucky
Property taxes in Campbellsville, Kentucky, are essential in funding key local services such as public schools, road maintenance, and emergency services. The median tax rate in Campbellsville is 0.84%, which is lower than the U.S. national median of 0.99%. Local government entities within Campbellsville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Campbellsville 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 Campbellsville's effective property tax rate to other areas in Kentucky and the national median. For comparison, the zip code 42718 has both the highest and lowest median property tax rate of 0.84%. Understanding how these areas compare with Campbellsville provides valuable insights into the varying tax landscape across Taylor County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Campbellsville Tax Rate
0.84%
Average Taylor County Tax Rate
1.02%
Average Kentucky Tax Rate
1.02%
Average United States Tax Rate
0.99%
Property Tax Rates Across Campbellsville, Taylor County, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 42718 | 0.42% | 0.42% | 0.84% | 1.02% | 1.02% |
Source: Ownwell
Property Tax Assessment Values Across Campbellsville, Taylor County, Kentucky
In Campbellsville, 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 local 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 Campbellsville, 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. 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 Campbellsville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Campbellsville is $98,000, with the 25th percentile tax bill at $291 and the 75th percentile tax bill at $1,332. The highest and lowest median tax bills are both $702 in the 42718 zip code.
Property Tax Assessment Values Across Campbellsville, Taylor County, Kentucky
Source: Ownwell
$33,000
$65,500
$98,000
Average Campbellsville Assessed Value
$98,000
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 Campbellsville, Taylor County, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 42718 | $25,000 | $57,000 | $98,000 | $150,000 | $219,000 |
Source: Ownwell
Property Tax Bills Across Campbellsville, Taylor County, Kentucky
In Campbellsville, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. The median home price in the area is $98,000. Property tax rates are applied to this assessed value to determine the annual tax bill. Several factors influence the tax bill, including property location, market conditions, and any exemptions for which the homeowner may qualify. For example, in Taylor County, the 25th percentile tax bill is $291, while the 75th percentile tax bill is $1,332. At the higher end, the 90th percentile tax bill reaches $1,977. The highest and lowest median tax bills in the area are both $702, located in the 42718 zip code. These property taxes fund essential public services such as schools, infrastructure, and emergency services. Homeowners need to be aware of these factors as they can significantly impact the overall cost of owning a home in Campbellsville.
Average Campbellsville Tax Bill
$702
Average Taylor County Tax Bill
$681
Average Kentucky Tax Bill
$1,031
Average United States Tax Bill
$2,690
Property Tax Bills Across Campbellsville, Taylor County, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 42718 | $126 | $291 | $702 | $1,332 | $1,977 |
Source: Ownwell