Pine Ridge, Kentucky Property Taxes
The median property tax rate in Pine Ridge, KY is 0.95%, slightly below both the national median of 0.99% and the Kentucky state median of 1.02%. With the median home value in Pine Ridge, the typical annual property tax bill reaches $95, significantly lower than the national median of $2,690. Property taxes in Pine Ridge are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Pine Ridge'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 Pine Ridge or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Pine Ridge, Kentucky Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.95%
Estimate Property Tax Bill
$166
Ownwell’s Pine Ridge Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Pine Ridge with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Pine Ridge 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 Wolfe County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Pine Ridge, Kentucky
Property taxes in Pine Ridge, Kentucky, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Pine Ridge is 0.95%, which is slightly below the U.S. national median of 0.99%. Local government entities within Pine Ridge set these rates annually, and they can vary significantly across different neighborhoods. Each year, Pine Ridge 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 Pine Ridge's effective property tax rate to other counties in Kentucky and the national median. For comparison, the 41360 zip code has both the highest and lowest median property tax rate of 0.95%. Understanding how these areas compare with Pine Ridge provides valuable insights into the varying tax landscape across Wolfe County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Pine Ridge Tax Rate
0.95%
Average Wolfe County Tax Rate
0.95%
Average Kentucky Tax Rate
1.02%
Average United States Tax Rate
0.99%
Property Tax Rates Across Pine Ridge, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 41360 | 0.95% | 0.95% | 0.95% | 0.95% | 0.95% |
Source: Ownwell
Property Tax Assessment Values Across Pine Ridge, Kentucky
In Pine Ridge, 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 Wolfe 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 Pine Ridge, 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. For instance, the highest tax bills in Pine Ridge can reach up to $285, while the lowest are around $81. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Pine Ridge Assessed Value
$17,500
Average Wolfe County Assessed Value
$20,000
Average Kentucky Assessed Value
$110,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Pine Ridge, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 41360 | $7,650 | $10,000 | $17,500 | $30,000 | $31,900 |
Source: Ownwell
Property Tax Bills Across Pine Ridge, Kentucky
In Pine Ridge, KY, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The assessed value is then multiplied by the local property tax rate to determine the tax bill. For homeowners in Pine Ridge, the median home price is $17,500. Property tax bills can vary significantly; for instance, the tax bill at the 25th percentile is $81, while at the 75th percentile, it reaches $259. At the 90th percentile, homeowners can expect to pay around $285. These variations are influenced by factors such as property size, location, and improvements. Compared to the national median property tax rate of 0.99%, Pine Ridge's property tax bills reflect the local economic conditions and property values. Understanding these factors can help homeowners anticipate their annual tax obligations and budget accordingly.
Average Pine Ridge Tax Bill
$95
Average Wolfe County Tax Bill
$237
Average Kentucky Tax Bill
$1,031
Average United States Tax Bill
$2,690
Property Tax Bills Across Pine Ridge, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 41360 | $53 | $81 | $95 | $259 | $285 |
Source: Ownwell