Lovelaceville, Ballard County, Kentucky Property Taxes

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

Median Lovelaceville, KY effective property tax rate: 0.81%, significantly lower than the national median of 1.02%, but lower than the Kentucky state median of 1.02%. Median Lovelaceville, KY home value: $85,250. Median annual Lovelaceville, KY tax bill: $639, $1,761 lower than the national median property tax bill of $2,400. How are property taxes in Ballard County calculated? Property taxes in Lovelaceville, 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 Lovelaceville’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Lovelaceville, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

Lovelaceville, Ballard County, Kentucky Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

0.67%

Estimate Property Tax Bill

$717

$665

Ownwell’s Lovelaceville Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Lovelaceville with just two data points. By entering your property's estimated assessed value, our calculator applies Lovelaceville’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 Ballard County. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Lovelaceville, Ballard County, Kentucky

Local government entities determine tax rates, which can vary significantly within a state. This variation arises because each county annually estimates its required budget to provide essential services and divides that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate. While votes and laws play a role in setting tax rates and budgets, this is essentially the annual process.

In Lovelaceville, located in Ballard County, Kentucky, the effective property tax rate is a reflection of this process. The median property tax rate in Kentucky is 0.81%, which is below the national median property tax rate of 1.02%. This means that homeowners in Lovelaceville may experience a relatively lower tax burden compared to those in other parts of the country. Understanding these rates can help property owners better manage their finances and anticipate their tax obligations. Comparing Lovelaceville’s effective property tax rate to other cities in Kentucky and national figures provides valuable insight into the local tax landscape.

Property Tax Rates Across Lovelaceville, Ballard County, Kentucky

Source: Ownwell

1.02%

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 Lovelaceville Tax Rate

0.67%

Median Effective Ballard County Tax Rate

1.02%

Median Effective Kentucky Tax Rate

1.02%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Lovelaceville, Ballard County, Kentucky

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
42060	N/A	N/A	N/A	N/A	N/A

Source: Ownwell

Property Tax Assessment Values Across Lovelaceville, Ballard County, Kentucky

When examining property taxes in Lovelaceville, Kentucky, 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 Ballard County Property Valuation Administrator 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 Ballard 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 Lovelaceville. For example, the median home price in Lovelaceville is $85,250, with tax bills ranging significantly across the county.

Property Tax Assessment Values Across Lovelaceville, Ballard County, Kentucky

Source: Ownwell

$48,750

$59,375

$70,000

Median Lovelaceville Market Value

$107,000

Median Ballard County Market Value

$57,000

Median Kentucky Market Value

$116,000

Median United States Market Value

$235,294

Property Tax Assessment Values Across Lovelaceville, Ballard County, Kentucky

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
42060	N/A	N/A	N/A	N/A	N/A

Source: Ownwell

Property Tax Bills Across Lovelaceville, Ballard County, Kentucky

In Lovelaceville, located in Ballard County, KY, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. With a median home price of $85,250, the property tax bills here are relatively modest compared to the national median property tax bill of $2,400. For instance, the 25th percentile tax bill is $631, while the 75th percentile tax bill is $646, indicating a narrower range of tax burdens for homeowners in the area. These bills are influenced by various factors, including the property's assessed value and local tax rates. For homeowners, this means that even small changes in assessed value or tax rates can have a significant impact on their annual tax bill. This is where Ownwell can assist. By providing property tax appeal and exemption services, Ownwell helps homeowners potentially reduce their tax bills, ensuring that they only pay what is fair and equitable. This service can lead to meaningful savings, particularly for those facing higher assessments.

Property Tax Bills Across Lovelaceville, Ballard County, Kentucky

Source: Ownwell

$393

$494

$595

Median Lovelaceville Tax Bill

$646

Median Ballard County Tax Bill

$464

Median Kentucky Tax Bill

$1,071

Median United States Tax Bill

$2,400

Property Tax Bills Across Lovelaceville, Ballard County, Kentucky

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
42060	N/A	N/A	N/A	N/A	N/A

Source: Ownwell