Berea, Estill County, Kentucky Property Taxes

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

Median Berea, KY effective property tax rate: 1.12%, significantly higher than the national median of 1.02%, but lower than the Kentucky state median of 1.02%.
Median Berea, KY home value: $199,000
Median annual Berea, KY tax bill: $2,237, $163 lower than the national median property tax bill of $2,400.

How are property taxes in Estill calculated?

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

Last Updated March 1, 2025

Berea, Estill County, Kentucky Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

1.11%

Estimate Property Tax Bill

$2,209

$2,050

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

Property Tax Rates Across Berea, Estill County, Kentucky

Local government entities set tax rates, which can vary widely within a state. This variation is due to each county estimating its required budget to provide services and dividing that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate. While votes and laws are involved in setting tax rates and budgets, this is the annual process in a nutshell.

In Berea, located in Madison County, KY, the effective property tax rate is a key figure to consider. Berea's property tax rate is an important factor for homeowners to understand, especially in comparison to other cities in Kentucky, as well as the median property tax rates in the state and the U.S. Kentucky's median property tax rate is 0.83%, which is lower than the national median of 1.02%. This makes Berea an appealing option for those looking to manage their property tax expenses effectively. By understanding these rates, property owners can make informed decisions about their investments and potential savings through appeals and exemptions.

Property Tax Rates Across Berea, Estill County, Kentucky

Source: Ownwell

1.06%

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 Berea Tax Rate

1.11%

Median Effective Estill County Tax Rate

1.06%

Median Effective Kentucky Tax Rate

1.02%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Berea, Estill County, Kentucky

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
40403	N/A	N/A	N/A	N/A	N/A

Source: Ownwell

Property Tax Assessment Values Across Berea, Estill County, Kentucky

When examining property taxes in Berea, 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 Estill 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.

In Estill 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 Berea. For example, the median home price in Berea is $199,000, with tax bills ranging significantly across the county.

Property Tax Assessment Values Across Berea, Estill County, Kentucky

Source: Ownwell

$20,000

$35,500

$51,000

Median Berea Market Value

$199,000

Median Estill County Market Value

$38,000

Median Kentucky Market Value

$116,000

Median United States Market Value

$235,294

Property Tax Assessment Values Across Berea, Estill County, Kentucky

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
40403	N/A	N/A	N/A	N/A	N/A

Source: Ownwell

Property Tax Bills Across Berea, Estill County, Kentucky

In Berea, located in Estill County, KY, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. This assessed value is then multiplied by the local tax rate to calculate the annual tax bill. With a median home price of $199,000, homeowners in Berea are likely to encounter property tax bills that can significantly impact their annual expenses. The tax bill at the 25th, 75th, and 90th percentiles is $2,237, which is below the national median property tax bill of $2,400. However, even with relatively moderate tax bills, homeowners can benefit from reducing their property tax burden. Ownwell can assist homeowners by identifying potential savings through property tax appeals and exemptions. By leveraging expert knowledge and local insights, Ownwell ensures that property assessments are fair and accurate, potentially lowering the tax bill. This service not only alleviates financial strain but also provides peace of mind knowing that homeowners are not overpaying on their property taxes.

Property Tax Bills Across Berea, Estill County, Kentucky

Source: Ownwell

$137

$293

$449

Median Berea Tax Bill

$2,203

Median Estill County Tax Bill

$296

Median Kentucky Tax Bill

$1,071

Median United States Tax Bill

$2,400

Property Tax Bills Across Berea, Estill County, Kentucky

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
40403	N/A	N/A	N/A	N/A	N/A

Source: Ownwell