Sebree, Kentucky Property Taxes
The median property tax rate in Sebree, KY is 1.13%, higher than both the national median of 0.99% and the Kentucky state median of 1.02%. With the median home value in Sebree at $54,800, the typical annual property tax bill amounts to $438, which is below the national median of $2,690. Property taxes in Sebree are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Sebree'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 Sebree or another part of Webster County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Sebree, 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 Sebree Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Sebree with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Sebree 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 Sebree, Kentucky
Property taxes in Sebree, Kentucky, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Sebree is 0.71%, which is lower than both the Kentucky state median of 0.83% and the U.S. national median of 0.99%. Local government entities within Sebree set these rates annually, and they can vary across different neighborhoods. Each year, Sebree 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. Comparing Sebree's effective property tax rate to other counties in Kentucky and the national median 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 Sebree 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 Sebree, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 42455 | 0.47% | 1.13% | 1.13% | 1.13% | 1.13% |
Source: Ownwell
Property Tax Assessment Values Across Sebree, Kentucky
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Sebree, 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 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 Sebree, 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. For instance, the median home price in Sebree is $54,800, with tax bills ranging from $169 at the 25th percentile to $1,738 at the 90th percentile. The highest and lowest median tax bill in Sebree is $438, found in the zip code 42455. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities to protest assessments or apply for exemptions to effectively manage their tax burden.
Average Sebree Assessed Value
$54,800
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 Sebree, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 42455 | $7,500 | $19,300 | $54,800 | $97,400 | $165,160 |
Source: Ownwell
Property Tax Bills Across Sebree, Kentucky
In Sebree, located in Webster County, KY, property tax bills are calculated based on the assessed value of a home. The median home price in Sebree is $54,800. Property taxes here are determined by applying the local tax rate to the assessed value of the property. This means a home assessed at the median price could expect a tax bill around $438, which aligns with the highest and lowest median tax bills in the area. Factors such as property improvements, market conditions, and local government budgets can influence the assessed value. For homeowners, this tax bill can vary significantly. For instance, those in the 25th percentile might pay around $169, while those in the 75th percentile could see a bill as high as $903. At the 90th percentile, the tax bill could reach up to $1,738. Compared to the national median property tax rate of 0.99%, Sebree's rate offers a relatively manageable tax burden, making it an attractive option for homeowners seeking affordability.
Average Sebree Tax Bill
$438
Average Webster County Tax Bill
$344
Average Kentucky Tax Bill
$1,031
Average United States Tax Bill
$2,690
Property Tax Bills Across Sebree, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 42455 | $68 | $169 | $438 | $903 | $1,738 |
Source: Ownwell