Morgantown, Butler County, Kentucky Property Taxes

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

Median Morgantown, KY effective property tax rate: 0.90%, significantly lower than the national median of 1.02%, but lower than the Kentucky state median of 1.02%.
Median Morgantown, KY home value: $65,450
Median annual Morgantown, KY tax bill: $468, $1,932 lower than the national median property tax bill of $2,400.

How are property taxes in Butler calculated?

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

Last Updated March 1, 2025

Morgantown, Butler County, Kentucky Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

0.9%

Estimate Property Tax Bill

$589

$547

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

Property Tax Rates Across Morgantown, Butler County, Kentucky

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

In Morgantown, located in Butler County, Kentucky, the effective property tax rate is 0.90%. This rate is notably below the national median property tax rate of 1.02%. When compared to other cities in Kentucky, Morgantown's rate is consistent with the state's median, offering residents a favorable tax environment. The consistency of Morgantown's rate with the highest and lowest rates within the region underscores a stable tax landscape. For property owners, this stability can be advantageous, as it provides predictability in annual tax obligations. Understanding these local tax dynamics is crucial for property owners seeking to manage their financial commitments effectively.

Property Tax Rates Across Morgantown, Butler County, Kentucky

Source: Ownwell

0.65%

0.78%

0.91%

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 Morgantown Tax Rate

0.90%

Median Effective Butler County Tax Rate

0.90%

Median Effective Kentucky Tax Rate

1.02%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Morgantown, Butler County, Kentucky

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
42261	0.27%	0.62%	0.90%	0.97%	1.00%

Source: Ownwell

Property Tax Assessment Values Across Morgantown, Butler County, Kentucky

When examining property taxes in Morgantown, 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 Butler 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 Butler 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 Morgantown. For example, the median home price in Morgantown is $65,450, with tax bills ranging significantly across the county. 42261 has the highest median home price at $65,450.

Property Tax Assessment Values Across Morgantown, Butler County, Kentucky

Source: Ownwell

$10,000

$50,600

$91,200

Median Morgantown Market Value

$65,450

Median Butler County Market Value

$64,000

Median Kentucky Market Value

$110,000

Median United States Market Value

$235,294

Property Tax Assessment Values Across Morgantown, Butler County, Kentucky

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
42261	$10,000	$33,675	$65,450	$103,500	$163,550

Source: Ownwell

Property Tax Bills Across Morgantown, Butler County, Kentucky

In Morgantown, property tax bills are calculated by multiplying the assessed value of a home by the local tax rate. The assessed value is determined based on the market value of the property, which is influenced by factors such as location, size, and condition. With a median home price of $65,450, homeowners in Morgantown can expect a property tax bill that varies significantly. The 25th percentile tax bill is $175, while the 75th percentile tax bill rises to $849. At the 90th percentile, it reaches $1,398. Compared to the national median property tax rate of 1.02% and a median bill of $2,400, Morgantown's tax bills are relatively modest. However, they can still pose a financial burden for some homeowners. Ownwell offers valuable services to help homeowners reduce their property tax bills. By providing expert guidance on tax appeals and exemptions, Ownwell can assist homeowners in potentially lowering their assessed property values and securing tax savings. This support ensures that families can better manage their financial obligations.

Property Tax Bills Across Morgantown, Butler County, Kentucky

Source: Ownwell

$58

$317

$576

Median Morgantown Tax Bill

$468

Median Butler County Tax Bill

$452

Median Kentucky Tax Bill

$1,031

Median United States Tax Bill

$2,400

Property Tax Bills Across Morgantown, Butler County, Kentucky

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
42261	$51	$175	$468	$849	$1,398

Source: Ownwell