Woodburn, Warren County, Kentucky Property Taxes
The median property tax rate in Woodburn, KY is 0.83%, 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 Woodburn at $124,580, the typical annual property tax bill amounts to $1,011, which is below the national median of $2,690. Property taxes in Woodburn are calculated based on the tax assessed value, often lower than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Woodburn'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 Woodburn 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
Woodburn, Warren County, Kentucky Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.83%
Estimate Property Tax Bill
$1,034
$960
Ownwell’s Woodburn Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Woodburn with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Woodburn 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 Woodburn, Warren County, Kentucky
Property taxes in Woodburn, Kentucky, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Woodburn is 0.83%, which is lower than the U.S. national median of 0.99%. Local government entities within Woodburn set these rates annually, and they can vary significantly across different neighborhoods. Each year, Woodburn 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 Woodburn's effective property tax rate to other areas in Kentucky and the national median. For comparison, the 42170 zip code has the highest median property tax rate of 0.83%, while the same zip code also has the lowest median tax rate of 0.83%. Understanding how these areas compare with Woodburn provides valuable insights into the varying tax landscape across Warren County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Woodburn Tax Rate
0.83%
Average Warren County Tax Rate
0.80%
Average Kentucky Tax Rate
1.02%
Average United States Tax Rate
0.99%
Property Tax Rates Across Woodburn, Warren County, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 42170 | 0.54% | 0.81% | 0.83% | 0.85% | 0.90% |
Source: Ownwell
Property Tax Assessment Values Across Woodburn, Warren County, Kentucky
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Woodburn, 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 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 Woodburn, 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. For instance, the median tax bill in Woodburn stands at $1,011, with the highest and lowest median tax bills both reported in the 42170 zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Woodburn, Warren County, Kentucky
Source: Ownwell
$112,185
$156,093
$200,000
Average Woodburn Assessed Value
$124,580
Average Warren County Assessed Value
$150,000
Average Kentucky Assessed Value
$110,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Woodburn, Warren County, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 42170 | $30,000 | $69,500 | $124,580 | $194,950 | $279,960 |
Source: Ownwell
Property Tax Bills Across Woodburn, Warren County, Kentucky
In Woodburn, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. For homeowners in Woodburn, the median home price is $124,580, which helps to contextualize the tax bills in the area. Factors such as property size, location, and improvements can influence the assessed value. Tax bills in Woodburn vary significantly, with the 25th percentile at $501 and the 75th percentile reaching $1,571. At the 90th percentile, homeowners might see bills as high as $2,250. Comparatively, the national median property tax rate is 0.99%, and Woodburn's tax bills reflect this standard, offering a range that can impact homeowners differently based on their property's assessed value. The highest and lowest median tax bills in the county are both reported at $1,011, indicating a consistent tax environment within the region.
Average Woodburn Tax Bill
$1,011
Average Warren County Tax Bill
$1,091
Average Kentucky Tax Bill
$1,031
Average United States Tax Bill
$2,690
Property Tax Bills Across Woodburn, Warren County, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 42170 | $206 | $501 | $1,011 | $1,571 | $2,250 |
Source: Ownwell