Gracey, Christian County, Kentucky Property Taxes

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

Median Gracey, KY effective property tax rate: 0.80%, significantly lower than the national median of 1.02%, but lower than the Kentucky state median of 1.02%.
Median Gracey, KY home value: $110,000
Median annual Gracey, KY tax bill: $817, $1,583 lower than the national median property tax bill of $2,400.

How are property taxes in Christian County calculated?

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

Last Updated March 1, 2025

Gracey, Christian County, Kentucky Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

0.8%

Estimate Property Tax Bill

$880

$817

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

By entering your property's estimated assessed value, our calculator applies Gracey’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 Christian County.

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

Property Tax Rates Across Gracey, Christian County, Kentucky

Local government entities set tax rates, which can vary widely within a state. Annually, each county estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate. While there are votes and laws involved in setting tax rates and budgets, in a nutshell, this is the annual process. Below, you can compare Gracey’s effective property tax rate to other cities in Kentucky and the median property tax rates in Kentucky and the U.S.

Property Tax Rates Across Gracey, Christian County, Kentucky

Source: Ownwell

0.44%

0.69%

0.93%

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 Gracey Tax Rate

0.80%

Median Effective Christian County Tax Rate

0.78%

Median Effective Kentucky Tax Rate

1.02%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Gracey, Christian County, Kentucky

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
42232	0.42%	0.79%	0.80%	0.84%	0.94%

Source: Ownwell

Property Tax Assessment Values Across Gracey, Christian County, Kentucky

When examining property taxes in Gracey, 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 Christian 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 Christian 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 Gracey.

For example, the median home price in Gracey is $110,000, with tax bills ranging significantly across the county. Zip code 42232 has the highest median home price at $110,000.

Property Tax Assessment Values Across Gracey, Christian County, Kentucky

Source: Ownwell

$26,000

$115,706

$205,412

Median Gracey Market Value

$110,000

Median Christian County Market Value

$110,000

Median Kentucky Market Value

$110,000

Median United States Market Value

$235,294

Property Tax Assessment Values Across Gracey, Christian County, Kentucky

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
42232	$25,000	$50,000	$110,000	$180,000	$255,000

Source: Ownwell

Property Tax Bills Across Gracey, Christian County, Kentucky

In Gracey, located in Christian County, KY, property tax bills are determined by the assessed value of a home, which is typically a percentage of the market value. The local tax rate is applied to this assessed value to calculate the annual property tax bill. In this region, property tax bills can vary significantly, with the 25th percentile at $351 and the 75th percentile at $1,390, while the 90th percentile reaches $2,021. This variance highlights how different factors, such as property location and size, can influence tax bills. The highest and lowest median tax bills in the area are both $817, indicating a level of consistency within certain areas of the city. Compared to the national median property tax bill of $2,400, Gracey's property taxes are generally lower, offering some relief to homeowners. Ownwell can assist homeowners in Gracey by analyzing their property assessments and identifying potential errors or opportunities for exemptions, helping to lower their tax obligations and ensuring they are not overpaying.

Property Tax Bills Across Gracey, Christian County, Kentucky

Source: Ownwell

$172

$928

$1,684

Median Gracey Tax Bill

$817

Median Christian County Tax Bill

$788

Median Kentucky Tax Bill

$1,031

Median United States Tax Bill

$2,400

Property Tax Bills Across Gracey, Christian County, Kentucky

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
42232	$122	$351	$817	$1,390	$2,021

Source: Ownwell