Salvisa, Mercer County, Kentucky Property Taxes

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

Median Salvisa, 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 Salvisa, KY home value: $152,282
Median annual Salvisa, KY tax bill: $1,279, $1,121 lower than the national median property tax bill of $2,400.

How are property taxes in Mercer calculated?

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

Last Updated March 1, 2025

Salvisa, Mercer County, Kentucky Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

1.2%

Estimate Property Tax Bill

$1,541

$1,430

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

Property Tax Rates Across Salvisa, Mercer County, Kentucky

Local government entities determine tax rates, leading to significant variation across the state. This process involves estimating the required budget to provide public services, which is then divided by the total value of all taxable property within the jurisdiction, ultimately determining the property tax rate. While votes and laws play a role in setting these rates and budgets, this annual process remains consistent.

In Salvisa, located in Mercer County, the effective property tax rate is 1.21%, which is higher than the national median of 1.02%. This rate reflects the local government's budgetary needs and the total taxable property value within the area. Despite this being the highest and lowest median tax rate in the region, it underscores the variability of property tax rates across different areas. When compared to the national median property tax bill of $2,400, Salvisa's rate indicates how local financial requirements influence property tax obligations. Understanding these variations can help property owners in Salvisa make informed decisions regarding property tax appeals and exemptions.

Property Tax Rates Across Salvisa, Mercer County, Kentucky

Source: Ownwell

0.40%

0.80%

1.20%

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 Salvisa Tax Rate

1.20%

Median Effective Mercer County Tax Rate

1.12%

Median Effective Kentucky Tax Rate

1.02%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Salvisa, Mercer County, Kentucky

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
40372	0.76%	0.98%	1.20%	1.20%	1.20%

Source: Ownwell

Property Tax Assessment Values Across Salvisa, Mercer County, Kentucky

When examining property taxes in Salvisa, 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 Mercer 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 Mercer 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 Salvisa.

For example, the median home price in Salvisa is $152,282, with tax bills ranging significantly across the county. Zip code 40372 has the highest median home price at $152,282.

Property Tax Assessment Values Across Salvisa, Mercer County, Kentucky

Source: Ownwell

$67,000

$98,986

$130,972

Median Salvisa Market Value

$128,433

Median Mercer County Market Value

$129,844

Median Kentucky Market Value

$116,000

Median United States Market Value

$235,294

Property Tax Assessment Values Across Salvisa, Mercer County, Kentucky

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
40372	$20,138	$71,617	$128,433	$189,820	$272,261

Source: Ownwell

Property Tax Bills Across Salvisa, Mercer County, Kentucky

In Salvisa, located in Mercer County, KY, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The median home price in Salvisa is $152,282, and the median property tax bill is $1,279. This is significantly lower than the national median property tax bill of $2,400. Homeowners in Salvisa can expect tax bills ranging from the 25th percentile at $627 to the 90th percentile at $3,016. These figures reflect the variability in property values and the tax rates applied. The property tax rate in Salvisa is influenced by local government budgets, school funding needs, and infrastructure projects, directly impacting homeowners' financial responsibilities. Ownwell can assist homeowners in Salvisa by reviewing their property assessments for inaccuracies and filing appeals to ensure fair taxation. By leveraging expert knowledge and negotiation skills, Ownwell aims to reduce property tax burdens, potentially saving homeowners significant amounts on their annual tax bills.

Property Tax Bills Across Salvisa, Mercer County, Kentucky

Source: Ownwell

$188

$742

$1,295

Median Salvisa Tax Bill

$1,295

Median Mercer County Tax Bill

$1,113

Median Kentucky Tax Bill

$1,071

Median United States Tax Bill

$2,400

Property Tax Bills Across Salvisa, Mercer County, Kentucky

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
40372	$212	$650	$1,295	$2,091	$3,109

Source: Ownwell