Petersburg, Boone County, Kentucky Property Taxes

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

Median Petersburg, KY effective property tax rate: 1.17%, significantly higher than the national median of 1.02%, but lower than the Kentucky state median of 1.02%.
Median Petersburg, KY home value: $155,000
Median annual Petersburg, KY tax bill: $1,687, $713 lower than the national median property tax bill of $2,400.

How are property taxes in Boone calculated?

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

Last Updated March 1, 2025

Petersburg, Boone County, Kentucky Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

1.12%

Estimate Property Tax Bill

$1,904

$1,767

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

Property Tax Rates Across Petersburg, Boone County, Kentucky

Local government entities are responsible for setting tax rates, leading to significant variation within a state. Each county calculates its necessary budget for services and divides this by the total value of all taxable property in its area, resulting in the property tax rate. This process, though influenced by votes and laws, is the annual norm. In Petersburg, Boone County, Kentucky, the effective property tax rate is 1.17%, which aligns with the highest and lowest rates within the state. This figure is higher than the national median property tax rate of 1.02%, indicating a slightly elevated tax burden for property owners in this area compared to the national average. The median property tax bill in Petersburg also surpasses the national median of $2,400, reflecting the region's higher rate. Understanding these nuances can help property owners in Petersburg make informed decisions about their property tax obligations and potential appeals.

Property Tax Rates Across Petersburg, Boone County, Kentucky

Source: Ownwell

0.96%

1.28%

1.61%

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 Petersburg Tax Rate

1.12%

Median Effective Boone County Tax Rate

1.08%

Median Effective Kentucky Tax Rate

1.02%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Petersburg, Boone County, Kentucky

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
41080	0.85%	0.99%	1.12%	1.15%	1.18%

Source: Ownwell

Property Tax Assessment Values Across Petersburg, Boone County, Kentucky

When examining property taxes in Petersburg, 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 Boone 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 Boone County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of April. 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 Petersburg. For example, the median home price in Petersburg is $155,000, with tax bills ranging significantly across the county. Zip code 41080 has the highest median home price at $155,000.

Property Tax Assessment Values Across Petersburg, Boone County, Kentucky

Source: Ownwell

$130,000

$210,350

$290,700

Median Petersburg Market Value

$170,000

Median Boone County Market Value

$215,200

Median Kentucky Market Value

$116,000

Median United States Market Value

$235,294

Property Tax Assessment Values Across Petersburg, Boone County, Kentucky

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
41080	$37,720	$100,000	$170,000	$265,450	$355,400

Source: Ownwell

Property Tax Bills Across Petersburg, Boone County, Kentucky

In Petersburg, located in Boone County, KY, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The median home price in Petersburg is $155,000, and the property tax rate is applied to this assessed value to determine the annual tax bill. Homeowners in Petersburg can expect a median property tax bill of around $1,687, which is below the national median of $2,400. However, tax bills can vary significantly, with the 25th percentile at $987 and the 90th percentile reaching up to $3,828. These variations depend on factors such as property location, improvements, and changes in assessed value. Ownwell assists homeowners by identifying potential savings through property tax appeals and exemptions. By analyzing your property’s assessed value and comparing it with market trends, Ownwell can help ensure you’re not overpaying on your property taxes, potentially saving you hundreds or even thousands of dollars annually.

Property Tax Bills Across Petersburg, Boone County, Kentucky

Source: Ownwell

$1,408

$2,767

$4,125

Median Petersburg Tax Bill

$1,790

Median Boone County Tax Bill

$2,243

Median Kentucky Tax Bill

$1,071

Median United States Tax Bill

$2,400

Property Tax Bills Across Petersburg, Boone County, Kentucky

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
41080	$387	$1,066	$1,790	$2,757	$3,884

Source: Ownwell