Flatwoods, Greenup County, Kentucky Property Taxes

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

Median FLATWOODS, KY effective property tax rate: 1.58%, significantly higher than the national median of 1.02%, but lower than the KY state median of 1.02%.
Median FLATWOODS, KY home value: $68,000
Median annual FLATWOODS, KY tax bill: $928, $1,472 lower than the national median property tax bill of $2,400.

How are property taxes in Greenup calculated?

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

Last Updated March 1, 2025

Flatwoods, Greenup County, Kentucky Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

1.58%

Estimate Property Tax Bill

$1,074

$997

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

Property Tax Rates Across Flatwoods, Greenup County, Kentucky

Local government entities are responsible for setting tax rates, which can vary significantly within Kentucky. This variation arises because each county annually estimates its required budget to provide services and divides 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 tax rates and budgets, this is the core of the annual process. In Flatwoods, located in Greenup County, the effective property tax rate is noteworthy. When compared to other cities in Kentucky, Flatwoods' rate aligns with both the highest and lowest median tax rates in the state, which stand at 1.58%. This is considerably higher than the national median property tax rate of 1.02%. Understanding these figures is crucial for property owners, as they directly impact the annual property tax bill. With the national median property tax bill at $2,400, residents in Flatwoods may find themselves paying more than the average property owner across the country. This highlights the importance of being informed about local property tax rates and seeking potential exemptions or appeals to manage costs effectively.

Property Tax Rates Across Flatwoods, Greenup County, Kentucky

Source: Ownwell

1.11%

1.64%

2.16%

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 Flatwoods Tax Rate

1.58%

Median Effective Greenup County Tax Rate

1.58%

Median Effective Kentucky Tax Rate

1.02%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Flatwoods, Greenup County, Kentucky

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
41139	0.45%	1.02%	1.58%	1.58%	1.58%

Source: Ownwell

Property Tax Assessment Values Across Flatwoods, Greenup County, Kentucky

When examining property taxes in Flatwoods, 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 Greenup 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 Greenup 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 Flatwoods. For example, the median home price in Flatwoods is $68,000, with tax bills ranging significantly across the county. 41139 has the highest median home price at $68,000.

Property Tax Assessment Values Across Flatwoods, Greenup County, Kentucky

Source: Ownwell

$37,890

$111,042

$184,194

Median Flatwoods Market Value

$68,000

Median Greenup County Market Value

$65,000

Median Kentucky Market Value

$110,000

Median United States Market Value

$235,294

Property Tax Assessment Values Across Flatwoods, Greenup County, Kentucky

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
41139	$21,028	$44,000	$68,000	$110,000	$169,750

Source: Ownwell

Property Tax Bills Across Flatwoods, Greenup County, Kentucky

In Flatwoods, KY, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. With a median home price of $68,000, homeowners in Greenup County often face varying tax bills. The 25th percentile tax bill stands at $446, while the 75th percentile reaches $1,598, and the 90th percentile can climb to $2,502. Compared to the national median property tax bill of $2,400, Flatwoods homeowners generally experience a lower tax burden. However, the impact on individual homeowners can vary significantly depending on their property's assessed value and the specific tax rates applied in their area.

Ownwell can help homeowners in Flatwoods potentially save on their property tax bills by providing expert property tax appeal services. By analyzing property assessments and identifying discrepancies, Ownwell can assist in reducing the assessed value, leading to lower tax bills. This service ensures that homeowners pay only their fair share, offering peace of mind and potential savings in a region where tax bills can vary widely.

Property Tax Bills Across Flatwoods, Greenup County, Kentucky

Source: Ownwell

$427

$1,551

$2,674

Median Flatwoods Tax Bill

$928

Median Greenup County Tax Bill

$857

Median Kentucky Tax Bill

$1,031

Median United States Tax Bill

$2,400

Property Tax Bills Across Flatwoods, Greenup County, Kentucky

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
41139	$143	$446	$928	$1,598	$2,502

Source: Ownwell