Slaughters, Webster County, Kentucky Property Taxes
The median property tax rate in Slaughters, 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 Slaughters at $80,000, the typical annual property tax bill reaches $642, which is below the national median of $2,690. Property taxes in Slaughters are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Slaughters' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Slaughters 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
Slaughters, Webster County, Kentucky Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.13%
Estimate Property Tax Bill
$904
$839
Ownwell’s Slaughters Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Slaughters with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Slaughters 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 Slaughters, Webster County, Kentucky
Property taxes in Slaughters, Kentucky, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Slaughters is 1.13%, which is significantly higher than both the Kentucky state median and the U.S. national median of 0.99%. Local government entities within Slaughters set these rates annually, and they can vary significantly across different neighborhoods. Each year, Slaughters 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 Slaughters' effective property tax rate to other counties in Kentucky and the national median. For comparison, the 42456 zip code has the highest median property tax rate of 1.13%, while the same zip code also has the lowest median tax rate of 1.13%. Understanding how these cities compare with Slaughters 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 Slaughters 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 Slaughters, Webster County, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 42456 | 0.45% | 0.83% | 1.13% | 1.13% | 1.13% |
Source: Ownwell
Property Tax Assessment Values Across Slaughters, Webster County, Kentucky
In Slaughters, 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 local authorities 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 Slaughters, 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 Slaughters helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price here is $80,000, with tax bills ranging from $291 at the 25th percentile to $1,994 at the 90th percentile. Notably, the highest and lowest median tax bills are both $642 in the 42456 zip code.
Property Tax Assessment Values Across Slaughters, Webster County, Kentucky
Source: Ownwell
$19,950
$57,975
$96,000
Average Slaughters Assessed Value
$80,000
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 Slaughters, Webster County, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 42456 | $12,360 | $42,250 | $80,000 | $131,050 | $200,320 |
Source: Ownwell
Property Tax Bills Across Slaughters, Webster County, Kentucky
In Slaughters, KY, property tax bills are calculated based on the assessed value of the property, which is determined by the local tax assessor. The assessed value is a percentage of the property's market value. Once the assessed value is established, the local tax rate 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 Slaughters, the median home price is around $80,000. Property tax bills can vary significantly, with the 25th percentile paying approximately $291 annually, while those in the 75th percentile face bills around $1,317. The highest tax bills, in the 90th percentile, can reach up to $1,994. Compared to the national median property tax rate of 0.99%, Slaughters' property taxes can be seen as relatively moderate. These taxes are essential for funding local services such as schools, infrastructure, and public safety, directly impacting the quality of life for residents.
Average Slaughters Tax Bill
$642
Average Webster County Tax Bill
$344
Average Kentucky Tax Bill
$1,031
Average United States Tax Bill
$2,690
Property Tax Bills Across Slaughters, Webster County, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 42456 | $103 | $291 | $642 | $1,317 | $1,994 |
Source: Ownwell