Mackville, Kentucky Property Taxes
The median property tax rate in Mackville, KY is 0.66%, noticeably lower than both the national median of 0.99% and the Kentucky state median of 1.02%. With the median home value in Mackville at $129,000, the typical annual property tax bill amounts to $680, significantly less than the national median of $2,690. Property taxes in Mackville are calculated based on the tax assessed value, which often falls below market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Mackville's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Mackville or another part of the city, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Mackville, Kentucky Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.66%
Estimate Property Tax Bill
$851
Ownwell’s MACKVILLE Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in MACKVILLE with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in MACKVILLE 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 Mackville, Kentucky
Property taxes in Mackville, Kentucky, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Mackville is 0.66%, which is lower than the U.S. national median of 0.99%. Local government entities within Mackville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Mackville 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 Mackville's effective property tax rate to other areas in Washington County and the national median. For comparison, the 40040 zip code has the same median property tax rate of 0.66%. Understanding how these areas compare with Mackville provides valuable insights into the varying tax landscape across Washington County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Mackville Tax Rate
0.66%
Average Washington County Tax Rate
0.86%
Average Kentucky Tax Rate
1.02%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mackville, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 40040 | 0.15% | 0.30% | 0.66% | 1.04% | 1.12% |
Source: Ownwell
Property Tax Assessment Values Across Mackville, Kentucky
In Mackville, 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 Washington County 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 Mackville, 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 Mackville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code with the highest median tax bill is 40040, with a median bill of $680.
Average Mackville Assessed Value
$129,000
Average Washington County Assessed Value
$130,000
Average Kentucky Assessed Value
$110,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Mackville, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 40040 | $30,000 | $70,000 | $129,000 | $252,000 | $410,000 |
Source: Ownwell
Property Tax Bills Across Mackville, Kentucky
In MACKVILLE, Washington County, KY, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by the local assessor's office, which evaluates the property's market value. Once the assessed value is established, the tax rate set by the local government is applied to calculate the annual property tax bill. Several factors influence the assessed value, including the property's location, size, and condition. For homeowners in MACKVILLE, the median home price is $129,000. Property tax bills can vary significantly, with the 25th percentile at $396 and the 75th percentile reaching $1,078. At the higher end, the 90th percentile tax bill stands at $1,687. Homeowners in MACKVILLE experience a range of tax bills, which can impact their financial planning and overall cost of homeownership. Understanding how these taxes are calculated helps homeowners anticipate their annual expenses and manage their budgets more effectively.
Average Mackville Tax Bill
$680
Average Washington County Tax Bill
$877
Average Kentucky Tax Bill
$1,031
Average United States Tax Bill
$2,690
Property Tax Bills Across Mackville, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 40040 | $164 | $396 | $680 | $1,078 | $1,687 |
Source: Ownwell