Trimble County, Kentucky Property Taxes
The median property tax rate in Trimble County is 1.13%, which is notably higher than both the national median of 0.99% and the Kentucky state median of 1.02%. With the median home value in Trimble County being $85,000, the typical annual property tax bill amounts to $844, which is significantly lower than the national median of $2,690. Property taxes in Trimble County are calculated based on the tax assessed value, which often falls below the actual market value due to various property tax exemptions like the primary residence and agricultural exemptions. Understanding Trimble County's specific property tax system, exploring available exemptions, and identifying opportunities for property tax reductions can provide significant annual savings. Whether you live in Bedford or another part of Trimble County, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Trimble County, Kentucky Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.13%
Estimate Property Tax Bill
$960
$891
Ownwell’s Trimble County Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Trimble County with just two data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Trimble 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 Trimble County, Kentucky
Property taxes in Trimble County play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Trimble County is 1.13%, which is higher than the U.S. national median of 0.99%. Local government entities within Trimble County set these rates annually, and they can vary significantly between different areas within the county. Each year, Trimble 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 Trimble County's effective property tax rate with other counties in the region and the national median. For comparison, the city of Sulphur has one of the higher property tax rates in the region at 1.15%, while the city of Bedford boasts one of the lowest at 1.13%. Analyzing how Trimble County's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Trimble County Tax Rate
1.13%
Average Kentucky Tax Rate
1.02%
Average United States Tax Rate
0.99%
Property Tax Rates Across Trimble County, Kentucky
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Bedford | 0.53% | 1.13% | 1.13% | 1.13% | 1.15% |
| Campbellsburg | 0.59% | 1.13% | 1.13% | 1.13% | 1.13% |
| Milton | 0.54% | 1.13% | 1.13% | 1.13% | 1.13% |
| Pendleton | 0.56% | 0.86% | 1.13% | 1.15% | 1.15% |
| Sulphur | N/A | N/A | N/A | N/A | N/A |
| Turners Station | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
Property Tax Assessment Values Across Trimble County, Kentucky
In Trimble 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 Trimble 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 Trimble 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. Being aware of these valuation processes in Trimble County will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively. In Trimble County, the city with the highest median tax bill is Turners Station at $1,847, while Sulphur has the lowest median tax bill at $546. This significant difference highlights the importance of understanding property valuations and seeking potential tax relief.
Average Trimble County Assessed Value
$85,000
Average Kentucky Assessed Value
$110,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Trimble County, Kentucky
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Bedford | $20,000 | $50,000 | $85,200 | $135,000 | $190,550 |
| Campbellsburg | $24,300 | $50,000 | $95,750 | $153,175 | $223,500 |
| Milton | $5,000 | $42,000 | $80,000 | $134,375 | $187,750 |
| Pendleton | $34,700 | $66,000 | $111,000 | $158,000 | $223,000 |
| Sulphur | N/A | N/A | N/A | N/A | N/A |
| Turners Station | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
Property Tax Bills Across Trimble County, Kentucky
In Trimble County, KY, property tax bills are calculated based on the assessed value of a property, which is determined by the local tax assessor. The tax rate is then applied to this assessed value to calculate the annual tax bill. Factors such as property size, location, and improvements can influence the assessed value. For instance, the median home price in Trimble County is $85,000. Homeowners in Trimble County experience a range in their tax bills. The 25th percentile tax bill is $388, while the 75th percentile tax bill is $1,465. At the higher end, the 90th percentile tax bill reaches $2,122. Comparatively, these figures highlight the variability in property tax burdens within the county. For context, the national median property tax rate is 0.99%. Cities within Trimble County also show variation, with Turners Station having the highest median tax bill at $1,847 and Sulphur the lowest at $546. This disparity underscores how location and property specifics significantly impact tax responsibilities for homeowners.
Average Trimble County Tax Bill
$844
Average Kentucky Tax Bill
$1,031
Average United States Tax Bill
$2,690
Property Tax Bills Across Trimble County, Kentucky
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Bedford | $149 | $417 | $845 | $1,451 | $2,081 |
| Campbellsburg | $164 | $505 | $1,031 | $1,772 | $2,618 |
| Milton | $51 | $281 | $788 | $1,399 | $2,063 |
| Pendleton | $233 | $563 | $1,093 | $1,688 | $2,418 |
| Sulphur | N/A | N/A | N/A | N/A | N/A |
| Turners Station | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell