Whitley City, Mccreary County, Kentucky Property Taxes
Median WHITLEY CITY, KY effective property tax rate: 0.82%, significantly lower than the national median of 1.02%, but lower than the Kentucky state median of 1.02%.
Median WHITLEY CITY, KY home value: $40,000
Median annual WHITLEY CITY, KY tax bill: $253, $2,147 lower than the national median property tax bill of $2,400.
How are property taxes in McCreary calculated?
Property taxes in WHITLEY CITY, 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 WHITLEY CITY’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in WHITLEY CITY, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Whitley City, Mccreary County, Kentucky Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.82%
Estimate Property Tax Bill
$328
$304
Ownwell’s Whitley City Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Whitley City with just two data points.
By entering your property's estimated assessed value, our calculator applies Whitley City’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 McCreary County.
For those interested in more localized information, please scroll down to explore city-level trends!
Property Tax Rates Across Whitley City, Mccreary County, Kentucky
Local government entities in Kentucky, like those in other states, set property tax rates, which can vary considerably. This variability arises because each county annually estimates its required budget to provide essential services. The county then divides this budget by the total value of all taxable property within its jurisdiction, resulting in the property tax rate. Although votes and laws play a role in this process, this is the basic annual procedure.
In Whitley City, located in McCreary County, the effective property tax rate is a reflection of this process. When compared to other cities in Kentucky, Whitley City’s rate aligns closely with the state’s median property tax rate. Both the highest and lowest median tax rates in Kentucky are found in the 42653 zip code, which includes Whitley City. This consistency highlights a relatively uniform tax rate across the region.
Kentucky's median property tax rate is lower than the national median of 1.02%. Consequently, property owners in Whitley City benefit from a lower tax burden compared to many other parts of the United States. This can be an attractive factor for potential homeowners evaluating the overall cost of living in the area.
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 Whitley City Tax Rate
0.82%
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 Mccreary County Tax Rate
0.82%
Median Effective Kentucky Tax Rate
1.02%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Whitley City, Mccreary County, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 42653 | 0.28% | 0.82% | 0.82% | 0.82% | 0.82% |
Source: Ownwell
Property Tax Assessment Values Across Whitley City, Mccreary County, Kentucky
When examining property taxes in Whitley City, 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 McCreary 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 McCreary 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 Whitley City.
For example, the median home price in Whitley City is $40,000, with tax bills ranging significantly across the county. Zip code 42653 has the highest median home price at $40,000.
Property Tax Assessment Values Across Whitley City, Mccreary County, Kentucky
Source: Ownwell
$6,250
$24,125
$42,000
Median Whitley City Market Value
$40,000
Median Mccreary County Market Value
$37,000
Median Kentucky Market Value
$110,000
Median United States Market Value
$235,294
Property Tax Assessment Values Across Whitley City, Mccreary County, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 42653 | $2,500 | $10,000 | $40,000 | $75,000 | $120,000 |
Source: Ownwell
Property Tax Bills Across Whitley City, Mccreary County, Kentucky
Median Whitley City Tax Bill
$253
Median Mccreary County Tax Bill
$204
Median Kentucky Tax Bill
$1,031
Median United States Tax Bill
$2,400
Property Tax Bills Across Whitley City, Mccreary County, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 42653 | $24 | $65 | $253 | $569 | $914 |
Source: Ownwell