Tollesboro, Lewis County, Kentucky Property Taxes

Name: Property Tax Bills Across Tollesboro, Lewis County, Kentucky
Creator: Ownwell
License: https://creativecommons.org/licenses/by-nc/4.0/

Median Tollesboro, KY effective property tax rate: 1.11%, significantly higher than the national median of 1.02%, but lower than the Kentucky state median of 1.02%.
Median Tollesboro, KY home value: $46,050
Median annual Tollesboro, KY tax bill: $359, $2,041 lower than the national median property tax bill of $2,400.

How are property taxes in Lewis County calculated?

Property taxes in Tollesboro, KY are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.

Understanding Tollesboro’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Tollesboro, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

Tollesboro, Lewis County, Kentucky Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

1.11%

Estimate Property Tax Bill

$511

$474

Ownwell’s Tollesboro Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Tollesboro with just two data points. By entering your property's estimated assessed value, our calculator applies Tollesboro’s median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value — determined by your county — reflects any exemptions you may have, ensuring a precise calculation for your property tax obligations. This insightful tool helps you understand potential tax liabilities and highlights how Ownwell can assist in reducing property taxes in Lewis County. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Tollesboro, Lewis County, Kentucky

Local government entities set tax rates, which can vary widely within a state. This is because each county annually estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate. While there are votes and laws involved in setting tax rates and budgets, in a nutshell, this is the annual process.

Tollesboro in Lewis County, Kentucky, offers a unique perspective on property tax rates. The effective property tax rate here is 1.11%, which is slightly above the national median of 1.02%. This makes Tollesboro's rate one of the highest in Kentucky. Despite this, the rate remains competitive when compared to the national landscape. The tax rate reflects the county's commitment to maintaining quality services and infrastructure for its residents. Understanding these nuances can empower property owners to make informed decisions and potentially explore tax appeal opportunities.

Property Tax Rates Across Tollesboro, Lewis County, Kentucky

Source: Ownwell

1.01%

1.06%

1.11%

Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.

Median Effective Tollesboro Tax Rate

1.11%

Median Effective Lewis County Tax Rate

1.02%

Median Effective Kentucky Tax Rate

1.02%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Tollesboro, Lewis County, Kentucky

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
41189	0.43%	1.01%	1.11%	1.11%	1.11%

Source: Ownwell

Property Tax Assessment Values Across Tollesboro, Lewis County, Kentucky

When examining property taxes in Tollesboro, KY, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Lewis County appraisal district estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.

In Lewis County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of May. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Tollesboro.

For example, the median home price in Tollesboro is $46,050, with tax bills ranging significantly across the county. Zip code 41189 has the highest median home price at $46,050.

Property Tax Assessment Values Across Tollesboro, Lewis County, Kentucky

Source: Ownwell

$22,000

$37,375

$52,750

Median Tollesboro Market Value

$46,050

Median Lewis County Market Value

$28,800

Median Kentucky Market Value

$110,000

Median United States Market Value

$235,294

Property Tax Assessment Values Across Tollesboro, Lewis County, Kentucky

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
41189	$4,000	$12,025	$46,050	$79,375	$125,000

Source: Ownwell

Property Tax Bills Across Tollesboro, Lewis County, Kentucky

In Tollesboro, located in Lewis County, KY, property tax bills are calculated based on the assessed value of a home. This assessed value is determined by the Lewis County property assessor and reflects the market value of the property. The tax rate is then applied to this assessed value to calculate the annual tax bill. For homeowners in Tollesboro, the median home price is $46,050, with property tax bills ranging from $111 at the 25th percentile to $1,255 at the 90th percentile. The median tax bill in the area is $359, notably lower than the national median property tax bill of $2,400. Such low tax bills can be attributed to the relatively low property values in the region. Homeowners can benefit significantly by appealing their property taxes, potentially saving hundreds of dollars. Ownwell offers expert property tax appeal services, helping homeowners ensure their properties are fairly assessed and reducing their tax liability. By leveraging Ownwell's services, homeowners can maximize their savings and minimize their property tax burden.

Property Tax Bills Across Tollesboro, Lewis County, Kentucky

Source: Ownwell

$167

$276

$384

Median Tollesboro Tax Bill

$359

Median Lewis County Tax Bill

$218

Median Kentucky Tax Bill

$1,031

Median United States Tax Bill

$2,400

Property Tax Bills Across Tollesboro, Lewis County, Kentucky

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
41189	$40	$111	$359	$755	$1,255

Source: Ownwell