Gravel Switch, Boyle County, Kentucky Property Taxes

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

Median Gravel Switch, KY effective property tax rate: 1.14%, significantly higher than the national median of 1.02%, but lower than the Kentucky state median of 1.02%.
Median Gravel Switch, KY home value: $100,000
Median annual Gravel Switch, KY tax bill: $909, $1,491 lower than the national median property tax bill of $2,400.

How are property taxes in Boyle calculated?

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

Last Updated March 1, 2025

Gravel Switch, Boyle County, Kentucky Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

1.14%

Estimate Property Tax Bill

$1,140

$1,058

Ownwell’s Gravel Switch Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Gravel Switch with just two data points.

By entering your property's estimated assessed value, our calculator applies Gravel Switch’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 Boyle County.

For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Gravel Switch, Boyle County, Kentucky

Local government entities set property tax rates, which can vary significantly within a state due to differing budgetary needs and property values. Each year, counties estimate their required budget for essential services and divide this by the total value of all taxable properties 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 basic annual process.

Gravel Switch in Boyle County, KY, has an effective property tax rate of 1.14%, which is above the national median of 1.02%. This rate is consistent with the highest and lowest rates in the area, reflecting a uniform approach to property taxation within this region. Compared to the national median property tax bill of $2,400, the local tax burden may be higher or lower depending on individual property values. Understanding these variations can help property owners anticipate and manage their tax obligations effectively. While the local rates may seem high, they ensure the community receives necessary services and infrastructure.

Property Tax Rates Across Gravel Switch, Boyle County, Kentucky

Source: Ownwell

1.14%

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 Gravel Switch Tax Rate

1.14%

Median Effective Boyle County Tax Rate

0.51%

Median Effective Kentucky Tax Rate

1.02%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Gravel Switch, Boyle County, Kentucky

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
40328	0.12%	0.73%	1.14%	1.14%	1.14%

Source: Ownwell

Property Tax Assessment Values Across Gravel Switch, Boyle County, Kentucky

When examining property taxes in Gravel Switch, 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 Boyle County Tax 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 Boyle 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 Gravel Switch. For example, the median home price in Gravel Switch is $100,000, with tax bills ranging significantly across the county. Zip code 40328 has the highest median home price at $100,000.

Property Tax Assessment Values Across Gravel Switch, Boyle County, Kentucky

Source: Ownwell

$100,000

Median Gravel Switch Market Value

$100,000

Median Boyle County Market Value

$145,000

Median Kentucky Market Value

$110,000

Median United States Market Value

$235,294

Property Tax Assessment Values Across Gravel Switch, Boyle County, Kentucky

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
40328	$33,850	$56,750	$100,000	$165,000	$248,000

Source: Ownwell

Property Tax Bills Across Gravel Switch, Boyle County, Kentucky

In Gravel Switch, located in Boyle County, KY, property tax bills are determined based on the assessed value of a property. The median home price in this area is $100,000, and the property tax rate is calculated accordingly. Homeowners in Gravel Switch face a property tax bill that can vary significantly, with the 25th percentile at $299 and the 75th percentile reaching $1,641. For those at the 90th percentile, the tax bill can go as high as $2,443. Compared to the national median property tax bill of $2,400, some residents might find their taxes more burdensome. The local property tax rate plays a crucial role in determining these bills, and even minor changes in assessed home values can significantly impact the amount owed. Ownwell offers valuable assistance to homeowners by providing property tax appeal and exemption services. By leveraging their expertise, homeowners can potentially lower their property tax bills, ensuring they pay only what is fair and accurate for their property value.

Property Tax Bills Across Gravel Switch, Boyle County, Kentucky

Source: Ownwell

$909

Median Gravel Switch Tax Bill

$909

Median Boyle County Tax Bill

$660

Median Kentucky Tax Bill

$1,031

Median United States Tax Bill

$2,400

Property Tax Bills Across Gravel Switch, Boyle County, Kentucky

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
40328	$48	$299	$909	$1,641	$2,443

Source: Ownwell