Whitley County, Kentucky Property Taxes
The median property tax rate in Whitley County is 0.75%, which is notably lower than both the national median of 0.99% and the Kentucky state median of 1.02%. With a median home value in Whitley County of $32,500, the typical annual property tax bill is approximately $170, significantly below the national median of $2,690. Property taxes in Whitley County are calculated based on the tax assessed value, which usually falls below the actual market value due to various property tax exemptions such as primary residence and agricultural exemptions. Understanding Whitley County's specific property tax system, exploring available exemptions, and identifying opportunities for property tax reductions can provide substantial annual savings. Whether you live in Williamsburg or another part of Whitley County, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Whitley County, Kentucky Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.75%
Estimate Property Tax Bill
$244
$226
Ownwell’s Whitley County Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner to estimate their annual property taxes in Whitley County with just 2 data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Whitley County to estimate your property tax bill. This insight helps you understand potential tax liabilities. If you’d like to see trends on a city level, scroll down to navigate to a more local informational page. Your property assessed value is the value assigned to your property by your county for property tax calculations. Assessed value takes into account any exemptions you may have on your property.
Property Tax Rates Across Whitley County, Kentucky
Property taxes in Whitley County play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Whitley County is 0.75%, which is lower than the U.S. national median of 0.99%. Local government entities within Whitley County set these rates annually, and they can vary significantly between different areas within the county. Each year, Whitley County estimates its required budget to maintain services for the upcoming fiscal year, and divides this budget by the total value of all taxable property in the jurisdiction, resulting in the property tax rate. Although tax rates and budgets are influenced by laws and voter input, this calculation forms the basic process for setting property tax rates. The following data compares Whitley County's effective property tax rate with other counties in Kentucky and the national median. For comparison, the city of Barbourville has one of the higher property tax rates in Kentucky at 0.75%. Analyzing how Whitley County's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Whitley County Tax Rate
0.75%
Average Kentucky Tax Rate
1.02%
Average United States Tax Rate
0.99%
Property Tax Rates Across Whitley County, Kentucky
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Barbourville | 0.75% | 0.75% | 0.75% | 0.75% | 0.75% |
| Corbin | 0.22% | 0.34% | 0.34% | 0.75% | 0.75% |
| Emlyn | N/A | N/A | N/A | N/A | N/A |
| Frakes | 0.75% | 0.75% | 0.75% | 0.75% | 0.76% |
| Rockholds | 0.32% | 0.75% | 0.75% | 0.75% | 0.75% |
| Siler | 0.45% | 0.75% | 0.75% | 0.75% | 0.75% |
| Williamsburg | 0.32% | 0.46% | 0.75% | 0.75% | 0.75% |
| Woodbine | 0.35% | 0.75% | 0.75% | 0.75% | 0.75% |
Source: Ownwell
Property Tax Assessment Values Across Whitley County, Kentucky
In Whitley County, understanding the difference between "market value" and "assessed value" is key to comprehending property taxes. The market value represents the price a willing buyer would pay to a willing seller in an open, competitive market, considering location, property condition, and current economic trends. For tax purposes, this value is estimated by the Whitley County Appraisal District. The assessed value, however, 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. Assessment notices in Whitley County are typically mailed in the spring, usually by the middle of April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By distinguishing between these valuation concepts, property owners can better navigate their tax responsibilities and understand how their property taxes are affected. Being aware of these valuation processes in Whitley County will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively. Notably, Emlyn has the highest median tax bill at $241, while Frakes has the lowest at $113.
Average Whitley County Assessed Value
$32,500
Average Kentucky Assessed Value
$110,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Whitley County, Kentucky
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Barbourville | $1,500 | $2,950 | $12,000 | $36,200 | $92,436 |
| Corbin | $5,000 | $16,500 | $53,500 | $120,000 | $195,000 |
| Emlyn | N/A | N/A | N/A | N/A | N/A |
| Frakes | $1,100 | $2,300 | $12,750 | $32,125 | $62,775 |
| Rockholds | $2,253 | $7,000 | $24,600 | $60,100 | $121,720 |
| Siler | $1,600 | $5,000 | $14,000 | $32,650 | $61,000 |
| Williamsburg | $2,000 | $7,100 | $25,500 | $62,000 | $127,000 |
| Woodbine | $2,500 | $8,150 | $28,000 | $57,400 | $96,000 |
Source: Ownwell
Property Tax Bills Across Whitley County, Kentucky
In Whitley County, KY, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The tax rate is then applied to this assessed value to calculate the total tax bill. For homeowners in Whitley County, the median home price is $32,500. Property tax bills can vary significantly, with the 25th percentile tax bill at $58 and the 75th percentile at $415. The 90th percentile tax bill goes up to $769, showing a wide range of tax burdens. Several factors influence the tax bill, including the property's assessed value, any applicable exemptions, and the specific tax rate set by local jurisdictions. For example, in the city of Emlyn, the highest median tax bill is $241, whereas in Frakes, the lowest median tax bill is $113. These variations can significantly impact homeowners, making it essential to understand how local assessments and rates affect property taxes. Compared to the national median property tax rate of 0.99%, Whitley County's property taxes are relatively low, providing some relief to local homeowners.
Average Whitley County Tax Bill
$170
Average Kentucky Tax Bill
$1,031
Average United States Tax Bill
$2,690
Property Tax Bills Across Whitley County, Kentucky
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Barbourville | $15 | $26 | $89 | $273 | $615 |
| Corbin | $27 | $75 | $207 | $489 | $867 |
| Emlyn | N/A | N/A | N/A | N/A | N/A |
| Frakes | $15 | $30 | $113 | $241 | $448 |
| Rockholds | $23 | $54 | $150 | $397 | $754 |
| Siler | $19 | $38 | $87 | $219 | $388 |
| Williamsburg | $23 | $53 | $151 | $362 | $701 |
| Woodbine | $23 | $57 | $172 | $378 | $671 |
Source: Ownwell