Sharpsburg, Bourbon County, Kentucky Property Taxes
Median SHARPSBURG, KY effective property tax rate: 0.45%, significantly lower than the national median of 1.02%, but lower than the Kentucky state median of 1.02%.
Median SHARPSBURG, KY home value: $185,100
Median annual SHARPSBURG, KY tax bill: $870, $1,530 lower than the national median property tax bill of $2,400.
How are property taxes in Bourbon County calculated?
Property taxes in SHARPSBURG, 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 SHARPSBURG’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in SHARPSBURG, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Sharpsburg, Bourbon County, Kentucky Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.45%
Estimate Property Tax Bill
$833
$773
Property Tax Rates Across Sharpsburg, Bourbon County, Kentucky
Local government entities are responsible for setting tax rates, which can vary significantly within Kentucky. Each year, counties estimate the budget required to provide essential services, dividing this by the total value of all taxable property within their jurisdiction. This calculation determines the property tax rate. Although votes and laws play a role in setting these rates and budgets, this is the core of the annual process.
In Sharpsburg, located in Bath County, the effective property tax rate is relatively low compared to other cities in Kentucky and the national median. With a median property tax rate of 0.45%, Sharpsburg offers a more affordable option for homeowners when compared to the national median of 1.02%. This lower tax rate can be particularly appealing for those looking to minimize their property tax burden. Homeowners in Sharpsburg benefit from significantly lower property tax bills, making it an attractive place to live for those seeking financial relief. As property taxes continue to be a concern for many homeowners, understanding these rates and how they compare can be crucial in making informed decisions about property ownership.
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 Sharpsburg Tax Rate
0.45%
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 Bourbon County Tax Rate
0.57%
Median Effective Kentucky Tax Rate
1.02%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Sharpsburg, Bourbon County, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 40374 | 0.28% | 0.33% | 0.45% | 0.71% | 0.86% |
Source: Ownwell
Property Tax Assessment Values Across Sharpsburg, Bourbon County, Kentucky
When examining property taxes in Sharpsburg, 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 Bourbon 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 Bourbon 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 Sharpsburg. For example, the median home price in Sharpsburg is $185,100, with tax bills ranging significantly across the county. Zip code 40374 has the highest median home price at $185,100.
Property Tax Assessment Values Across Sharpsburg, Bourbon County, Kentucky
Source: Ownwell
$13,000
$260,800
$508,600
Median Sharpsburg Market Value
$185,100
Median Bourbon County Market Value
$151,200
Median Kentucky Market Value
$110,000
Median United States Market Value
$235,294
Property Tax Assessment Values Across Sharpsburg, Bourbon County, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 40374 | $91,810 | $100,150 | $185,100 | $412,650 | $738,270 |
Source: Ownwell
Property Tax Bills Across Sharpsburg, Bourbon County, Kentucky
In Sharpsburg, located in Bourbon County, KY, property tax bills are determined by assessing the property's market value and applying the local tax rate. Homeowners in Sharpsburg face a median property tax bill of $870, which is significantly lower than the national median of $2,400. The tax bill can range widely, with the 25th percentile at $799 and the 75th percentile at $2,782, indicating variability based on property values and local levies. Factors influencing these bills include the property's assessed value and any applicable exemptions or deductions. For homeowners, these taxes can impact annual budgets, making it crucial to ensure assessments are accurate and fair.
Ownwell offers valuable assistance to homeowners by providing property tax appeal and exemption services. By analyzing property assessments and identifying potential discrepancies, Ownwell helps homeowners potentially lower their tax bills. This service not only aids in financial savings but also ensures that homeowners are not overpaying due to incorrect property valuations. With Ownwell's expertise, Sharpsburg residents can confidently manage their property tax obligations.
Median Sharpsburg Tax Bill
$870
Median Bourbon County Tax Bill
$936
Median Kentucky Tax Bill
$1,031
Median United States Tax Bill
$2,400
Property Tax Bills Across Sharpsburg, Bourbon County, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 40374 | $451 | $799 | $870 | $2,782 | $5,392 |
Source: Ownwell