Campbellsburg, Kentucky Property Taxes
The median property tax rate in Campbellsburg, KY is 1.13%, higher than both the national median of 0.99% and the Kentucky state median of 1.02%. With a median home value of $95,750 in Campbellsburg, the typical annual property tax bill amounts to $1,031, which is below the national median of $2,690. Property taxes in Campbellsburg are calculated based on the assessed value, which often falls below the market value due to exemptions like those for primary residences and agricultural properties. Understanding Campbellsburg'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 Campbellsburg or another part of the city, being knowledgeable about the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Campbellsburg, Kentucky Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.02%
Estimate Property Tax Bill
$2,040
Ownwell’s Campbellsburg Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Campbellsburg with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Campbellsburg 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 Campbellsburg, Kentucky
Property taxes in Campbellsburg, Kentucky, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Campbellsburg is 1.13%, notably higher than both the Kentucky state median and the U.S. national median of 0.99%. Local government entities within Campbellsburg set these rates annually, and they can vary significantly across different neighborhoods. Each year, Campbellsburg 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 Campbellsburg's effective property tax rate to other counties in Kentucky and the national median. For comparison, the 40011 zip code has the highest median property tax rate of 1.13%, while the 40011 zip code also has the lowest median tax rate of 1.13%. Understanding how these cities compare with Campbellsburg provides valuable insights into the varying tax landscape across Trimble County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Campbellsburg Tax Rate
1.13%
Average Trimble County Tax Rate
1.13%
Average Kentucky Tax Rate
1.02%
Average United States Tax Rate
0.99%
Property Tax Rates Across Campbellsburg, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 40011 | 0.59% | 1.13% | 1.13% | 1.13% | 1.13% |
Source: Ownwell
Property Tax Assessment Values Across Campbellsburg, Kentucky
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Campbellsburg, Kentucky. 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 Trimble County Property Valuation Administrator 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 Campbellsburg, 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. The highest median tax bill in Campbellsburg is $1031 in the 40011 zip code, which is also the lowest median tax bill. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Campbellsburg Assessed Value
$95,750
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 Campbellsburg, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 40011 | $24,300 | $50,000 | $95,750 | $153,175 | $223,500 |
Source: Ownwell
Property Tax Bills Across Campbellsburg, Kentucky
In Campbellsburg, located in Trimble County, KY, property tax bills are calculated based on the assessed value of your property. The local tax rate is applied to this assessed value to determine your tax bill. For instance, with a median home price of $95,750, homeowners can expect varying tax bills. The tax bill for the 25th percentile is around $505, while the 75th percentile sees bills closer to $1,772. At the 90th percentile, tax bills can reach up to $2,618. Several factors influence these calculations, including the property's assessed value, local tax rates, and any applicable exemptions or deductions. The median property tax rate in this area is notably higher than the national median of 0.99%. This impacts homeowners by potentially increasing their annual expenses, making it crucial to understand and manage property assessments and available exemptions. By staying informed, homeowners can better anticipate their financial obligations and plan accordingly.
Average Campbellsburg Tax Bill
$1,031
Average Trimble County Tax Bill
$844
Average Kentucky Tax Bill
$1,031
Average United States Tax Bill
$2,690
Property Tax Bills Across Campbellsburg, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 40011 | $164 | $505 | $1,031 | $1,772 | $2,618 |
Source: Ownwell