Allen, Floyd County, Kentucky Property Taxes
Median Allen, KY effective property tax rate: 1.21%, significantly higher than the national median of 1.02%, but lower than the Kentucky state median of 1.02%.
Median Allen, KY home value: $24,000
Median annual Allen, KY tax bill: $294, $2,106 lower than the national median property tax bill of $2,400.
How are property taxes in Floyd County calculated?
Property taxes in Allen, 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 Allen’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Allen, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Allen, Floyd County, Kentucky Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
1.21%
Estimate Property Tax Bill
$290
$269
Property Tax Rates Across Allen, Floyd County, Kentucky
Local government entities determine property tax rates, which can differ significantly throughout Kentucky. This disparity arises because each county annually calculates its budgetary needs to deliver services and divides this by the total value of all taxable properties within its boundaries, resulting in the property tax rate. While voting and legislation play roles in setting these rates and budgets, this is the fundamental yearly process.
In Allen, located in Floyd County, property tax rates reflect this local budgeting process. Kentucky's median property tax rate stands at 0.83%, which is below the national median of 1.02%. This makes Kentucky an appealing state for property owners seeking lower tax rates compared to the national average. Additionally, the median property tax bill in Kentucky is $1,257, significantly below the national median of $2,400.
Comparing Allen's effective property tax rate to other cities in Kentucky and the national average can provide valuable insights for property owners. Understanding these differences is crucial for making informed decisions regarding property investments and financial planning.
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 Allen Tax Rate
1.21%
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 Floyd County Tax Rate
1.21%
Median Effective Kentucky Tax Rate
1.02%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Allen, Floyd County, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 41601 | 1.21% | 1.21% | 1.21% | 1.21% | 1.21% |
Source: Ownwell
Property Tax Assessment Values Across Allen, Floyd County, Kentucky
When examining property taxes in Allen, 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 Floyd 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 Floyd 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 Allen. For example, the median home price in Allen is $24,000, with tax bills ranging significantly across the county. ZIP code 41601 has the highest median home price at $24,000.
Property Tax Assessment Values Across Allen, Floyd County, Kentucky
Source: Ownwell
$10,000
$30,000
$50,000
Median Allen Market Value
$24,000
Median Floyd County Market Value
$18,000
Median Kentucky Market Value
$110,000
Median United States Market Value
$235,294
Property Tax Assessment Values Across Allen, Floyd County, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 41601 | $3,000 | $8,000 | $24,000 | $51,500 | $89,800 |
Source: Ownwell
Property Tax Bills Across Allen, Floyd County, Kentucky
Median Allen Tax Bill
$294
Median Floyd County Tax Bill
$206
Median Kentucky Tax Bill
$1,031
Median United States Tax Bill
$2,400
Property Tax Bills Across Allen, Floyd County, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 41601 | $36 | $97 | $294 | $667 | $1,184 |
Source: Ownwell