Drift, Floyd County, Kentucky Property Taxes

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

Median DRIFT, 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 DRIFT, KY home value: $21,500
Median annual DRIFT, KY tax bill: $173, $2,227 lower than the national median property tax bill of $2,400.

How are property taxes in Floyd calculated?

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

Last Updated March 1, 2025

Drift, Floyd County, Kentucky Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

1.21%

Estimate Property Tax Bill

$260

$241

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

Property Tax Rates Across Drift, Floyd County, Kentucky

Local government entities set tax rates, which can vary widely within a state. The process involves each county estimating its required budget for services and dividing that by the total value of all taxable property within 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. Drift in Floyd County, Kentucky, presents an interesting case for property tax rates. The effective property tax rate here is a crucial figure for residents and property owners to consider. Kentucky's median property tax rate offers a point of comparison, as does the national median. Understanding how Drift's property tax rate stacks up against these benchmarks can provide valuable insights for homeowners. These comparisons can help residents make informed decisions about property ownership and financial planning. Whether you're a current homeowner or considering purchasing property in Drift, knowing how local tax rates compare to state and national figures is essential for effective financial management.

Property Tax Rates Across Drift, Floyd County, Kentucky

Source: Ownwell

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 Drift Tax Rate

1.21%

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 Drift, Floyd County, Kentucky

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
41619	1.21%	1.21%	1.21%	1.21%	1.21%

Source: Ownwell

Property Tax Assessment Values Across Drift, Floyd County, Kentucky

When examining property taxes in Drift, Kentucky, 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 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 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 Drift. For example, the median home price in Drift is $21,500, with tax bills ranging significantly across the county. Zip code 41619 has the highest median home price at $21,500.

Property Tax Assessment Values Across Drift, Floyd County, Kentucky

Source: Ownwell

$10,000

$30,000

$50,000

Median Drift Market Value

$21,500

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 Drift, Floyd County, Kentucky

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
41619	$3,000	$7,125	$21,500	$37,750	$55,310

Source: Ownwell

Property Tax Bills Across Drift, Floyd County, Kentucky

Property tax bills in Drift, located in Floyd County, KY, are calculated based on the assessed value of a property. The local government determines this value, which is then multiplied by the local tax rate to calculate the annual tax bill. With a median home price of $21,500 in Drift, property tax bills can vary significantly. For instance, while the 25th percentile tax bill is about $70, the 75th percentile rises to $439, and the 90th percentile reaches $726. These figures highlight the variability in property taxes within the area. Compared to the national median property tax bill of $2,400, Drift’s tax bills are considerably lower. However, even with these lower rates, homeowners can benefit from appealing their property assessments. Ownwell specializes in helping homeowners reduce their tax bills by ensuring their property is fairly assessed. By leveraging expert knowledge and experience, Ownwell can identify potential savings, guiding homeowners through the appeal process to achieve a more equitable tax rate.

Property Tax Bills Across Drift, Floyd County, Kentucky

Source: Ownwell

$97

$381

$664

Median Drift Tax Bill

$173

Median Floyd County Tax Bill

$206

Median Kentucky Tax Bill

$1,031

Median United States Tax Bill

$2,400

Property Tax Bills Across Drift, Floyd County, Kentucky

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
41619	$36	$70	$173	$439	$726

Source: Ownwell