Mortons Gap, Hopkins County, Kentucky Property Taxes

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

Median Mortons Gap, KY effective property tax rate: 1.15%, significantly higher than the national median of 1.02%, but lower than the Kentucky state median of 1.02%.
Median Mortons Gap, KY home value: $30,000
Median annual Mortons Gap, KY tax bill: $307, $2,093 lower than the national median property tax bill of $2,400.

How are property taxes in Hopkins calculated?

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

Last Updated March 1, 2025

Mortons Gap, Hopkins County, Kentucky Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

1.15%

Estimate Property Tax Bill

$345

$320

Ownwell’s Mortons Gap Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Mortons Gap with just two data points.

By entering your property's estimated assessed value, our calculator applies Mortons Gap’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 Hopkins County.

For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Mortons Gap, Hopkins County, Kentucky

Local government entities are responsible for setting tax rates, which can vary significantly within a state. Each county estimates its required budget to provide services annually and divides that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate. While votes and laws play a role in setting tax rates and budgets, this is the annual process in a nutshell.

Mortons Gap in Hopkins County, KY, has an effective property tax rate of 1.15%. This rate is higher than the national median property tax rate of 1.02%. However, when compared to other cities in Kentucky, Mortons Gap's rate aligns with the state's median. This suggests that property owners in Mortons Gap might experience higher property tax bills than the national average, despite being typical for Kentucky. Understanding these nuances can be crucial for property owners seeking to manage their tax liabilities effectively.

Property Tax Rates Across Mortons Gap, Hopkins County, Kentucky

Source: Ownwell

1.01%

1.08%

1.15%

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 Mortons Gap Tax Rate

1.15%

Median Effective Hopkins County Tax Rate

1.01%

Median Effective Kentucky Tax Rate

1.02%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Mortons Gap, Hopkins County, Kentucky

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
42440	0.68%	1.06%	1.15%	1.31%	1.69%

Source: Ownwell

Property Tax Assessment Values Across Mortons Gap, Hopkins County, Kentucky

When examining property taxes in Mortons Gap, 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 Hopkins 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 Hopkins 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 Mortons Gap.

For example, the median home price in Mortons Gap is $30,000, with tax bills ranging significantly across the county. Zip code 42440 has the highest median home price at $30,000.

Property Tax Assessment Values Across Mortons Gap, Hopkins County, Kentucky

Source: Ownwell

$14,000

$27,000

$40,000

Median Mortons Gap Market Value

$30,000

Median Hopkins County Market Value

$26,000

Median Kentucky Market Value

$110,000

Median United States Market Value

$235,294

Property Tax Assessment Values Across Mortons Gap, Hopkins County, Kentucky

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
42440	$5,990	$15,175	$30,000	$60,159	$90,010

Source: Ownwell

Property Tax Bills Across Mortons Gap, Hopkins County, Kentucky

In Mortons Gap, property tax bills are calculated based on the assessed value of a home, which is determined by the Hopkins County property assessor. This assessed value is then multiplied by the local tax rate to determine the tax bill. Factors such as the property's location, size, and improvements can influence the assessed value. With a median home price of $30,000, property tax bills can vary significantly. For instance, the 25th percentile tax bill is $171, while the 75th percentile is $609. The highest median tax bill in the area is $307, which is considerably lower than the national median property tax bill of $2400. This variance affects homeowners by creating a range of tax liabilities depending on their property's assessed value. Ownwell can assist homeowners by identifying potential savings through property tax appeals and exemptions, ensuring they are not overpaying. By leveraging local expertise, Ownwell helps homeowners navigate the complexities of property tax assessments, potentially reducing their annual tax burden.

Property Tax Bills Across Mortons Gap, Hopkins County, Kentucky

Source: Ownwell

$141

$283

$424

Median Mortons Gap Tax Bill

$307

Median Hopkins County Tax Bill

$319

Median Kentucky Tax Bill

$1,031

Median United States Tax Bill

$2,400

Property Tax Bills Across Mortons Gap, Hopkins County, Kentucky

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
42440	$85	$171	$307	$609	$952

Source: Ownwell