Dixon, Kentucky Property Taxes
The median property tax rate in Dixon, 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 $59,500 in Dixon, the typical annual property tax bill is $480, which is significantly lower than the national median of $2,690. Property taxes in Dixon are calculated based on the tax assessed value, which usually falls below the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Dixon'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 Dixon or another part of Webster County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Dixon, 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 Dixon Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Dixon with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Dixon 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 Dixon, Kentucky
Property taxes in Dixon, Kentucky, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Dixon is 0.74%, lower than both the Kentucky state median of 0.83% and the U.S. national median of 0.99%. Local government entities within Dixon set these rates annually, and they can vary significantly across different neighborhoods. Each year, Dixon 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 Dixon's effective property tax rate to other counties in Kentucky and the national median. For comparison, the 42409 zip code has the highest median property tax rate of 0.74%, while the 42409 zip code has the lowest median tax rate of 0.74%. Understanding how these cities compare with Dixon provides valuable insights into the varying tax landscape across Webster County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Dixon Tax Rate
1.13%
Average Webster County Tax Rate
1.13%
Average Kentucky Tax Rate
1.02%
Average United States Tax Rate
0.99%
Property Tax Rates Across Dixon, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 42409 | 0.49% | 0.89% | 1.13% | 1.13% | 1.13% |
Source: Ownwell
Property Tax Assessment Values Across Dixon, Kentucky
In Dixon, 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 Webster 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 Dixon, 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 Dixon helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Dixon is $480.00 in the 42409 zip code, while the lowest median tax bill is also $480.00 in the same zip code.
Average Dixon Assessed Value
$59,500
Average Webster County Assessed Value
$46,000
Average Kentucky Assessed Value
$110,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Dixon, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 42409 | $7,500 | $21,675 | $59,500 | $112,200 | $184,780 |
Source: Ownwell
Property Tax Bills Across Dixon, Kentucky
In Dixon, KY, property tax bills are calculated based on the assessed value of a home. The local government assesses property values annually, and the property tax rate is applied to this assessed value to determine the tax bill. Factors such as the property's location, size, and market conditions play a significant role in determining its assessed value. For homeowners in Dixon, the median home price is $59,500. Property tax bills can vary widely, with the 25th percentile tax bill at $198 and the 75th percentile reaching $1,034. At the higher end, the 90th percentile tax bill is $1,916. The median property tax bill in Dixon is $480, which is significantly lower than the national median property tax rate of 0.99%. These property taxes fund essential public services like schools, emergency services, and infrastructure. Understanding these factors can help homeowners anticipate their annual tax obligations and manage their finances accordingly.
Average Dixon Tax Bill
$480
Average Webster County Tax Bill
$344
Average Kentucky Tax Bill
$1,031
Average United States Tax Bill
$2,690
Property Tax Bills Across Dixon, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 42409 | $65 | $198 | $480 | $1,034 | $1,916 |
Source: Ownwell