Philpot, Daviess County, Kentucky Property Taxes

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

Median Philpot, KY effective property tax rate: 1.04%, slightly higher than the national median of 1.02%, but lower than the Kentucky state median of 1.02%. Median Philpot, KY home value: $99,600. Median annual Philpot, KY tax bill: $796, $1,604 lower than the national median property tax bill of $2,400.

How are property taxes in Daviess County calculated?

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

Last Updated March 1, 2025

Philpot, Daviess County, Kentucky Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

1.05%

Estimate Property Tax Bill

$1,070

$993

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

Property Tax Rates Across Philpot, Daviess County, Kentucky

Local government entities have the authority to set property tax rates, leading to significant variations within Kentucky. Each year, counties like Daviess estimate their budgetary needs to fund public services and then determine the property tax rate by dividing this budget by the total assessed value of taxable properties. This is the basic formula for setting property tax rates, though it is influenced by votes and legislative measures.

For property owners in Philpot, located in Daviess County, the effective property tax rate is an essential figure to consider. Compared to other cities within Kentucky, Philpot's rate is a reflection of the county's financial requirements and property values. The median property tax rate in Kentucky is slightly above the national median of 1.02%, indicating a relatively higher tax burden in the state. This comparison highlights the importance of understanding local property tax obligations and the potential benefits of appealing assessments to ensure fair taxation. By staying informed about these rates, property owners can better manage their financial responsibilities and possibly reduce their tax bills through appeals and exemptions.

Property Tax Rates Across Philpot, Daviess County, Kentucky

Source: Ownwell

0.73%

0.89%

1.05%

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 Philpot Tax Rate

1.05%

Median Effective Daviess County Tax Rate

0.82%

Median Effective Kentucky Tax Rate

1.02%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Philpot, Daviess County, Kentucky

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
42366	0.60%	0.77%	1.05%	1.05%	1.05%

Source: Ownwell

Property Tax Assessment Values Across Philpot, Daviess County, Kentucky

When examining property taxes in Philpot, 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 Daviess County Property Valuation Administrator 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.

Assessment notices:

In Daviess 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 Philpot. For example, the median home price in Philpot is $99,600, with tax bills ranging significantly across the county. 42366 has the highest median home price at $99,600.

Property Tax Assessment Values Across Philpot, Daviess County, Kentucky

Source: Ownwell

$53,800

$92,325

$130,850

Median Philpot Market Value

$101,900

Median Daviess County Market Value

$117,300

Median Kentucky Market Value

$116,000

Median United States Market Value

$235,294

Property Tax Assessment Values Across Philpot, Daviess County, Kentucky

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
42366	$25,000	$41,050	$101,900	$180,950	$261,760

Source: Ownwell

Property Tax Bills Across Philpot, Daviess County, Kentucky

In Philpot, Daviess County, KY, property tax bills are determined by multiplying the assessed value of a home by the local tax rate. The median home price in this area is $99,600, which influences the overall tax bill. Homeowners in Philpot typically encounter tax bills ranging from $378 at the 25th percentile to $1,508 at the 75th percentile, with a notable 90th percentile bill of $2,447. This range illustrates the variability in tax obligations based on property values and local rates. Compared to the national median property tax rate of 1.02% and a median bill of $2,400, Philpot's figures reflect a relatively moderate tax burden. However, property taxes can still pose a significant expense for homeowners. Ownwell offers valuable assistance in reducing these costs by providing property tax appeal and exemption services. By analyzing individual property assessments and advocating for fair valuations, Ownwell helps homeowners potentially lower their tax bills, ensuring they only pay their fair share.

Property Tax Bills Across Philpot, Daviess County, Kentucky

Source: Ownwell

$323

$557

$790

Median Philpot Tax Bill

$759

Median Daviess County Tax Bill

$559

Median Kentucky Tax Bill

$1,071

Median United States Tax Bill

$2,400

Property Tax Bills Across Philpot, Daviess County, Kentucky

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
42366	$211	$369	$759	$1,504	$2,457

Source: Ownwell