Olaton, Ohio County, Kentucky Property Taxes
Median OLATON, KY effective property tax rate: 0.96%, significantly lower than the national median of 1.02%, but lower than the Kentucky state median of 1.02%.
Median OLATON, KY home value: $35,000
Median annual OLATON, KY tax bill: $248, $2,152 lower than the national median property tax bill of $2,400.
How are property taxes in Ohio calculated?
Property taxes in OLATON, 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 OLATON’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in OLATON, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Olaton, Ohio County, Kentucky Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.96%
Estimate Property Tax Bill
$336
$312
Property Tax Rates Across Olaton, Ohio County, Kentucky
Local government entities set tax rates, which can vary widely within a state. Why? Because annually, each county estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate. While there are votes and laws involved in setting tax rates and budgets, in a nutshell, this is the annual process.
In Olaton within Ohio County, Kentucky, the effective property tax rate is 0.96%, aligning with the highest and lowest median tax rates in the area. This is slightly below the national median property tax rate of 1.02%. The median property tax bill in Olaton is also likely to be lower than the national median of $2,400, reflecting the lower tax rate.
Comparing Olaton’s effective property tax rate to other cities in Kentucky and the median property tax rates in Kentucky and the U.S., it becomes evident that property owners in Olaton enjoy a relatively favorable tax environment. This can be an attractive factor for potential property buyers or investors looking at the region.
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 Olaton Tax Rate
0.96%
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 Ohio County Tax Rate
0.96%
Median Effective Kentucky Tax Rate
1.02%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Olaton, Ohio County, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 42361 | 0.49% | 0.96% | 0.96% | 1.00% | 1.01% |
Source: Ownwell
Property Tax Assessment Values Across Olaton, Ohio County, Kentucky
When examining property taxes in Olaton, 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 Ohio 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.
In Ohio 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 Olaton. For example, the median home price in Olaton is $35,000, with tax bills ranging significantly across the county. Zip code 42361 has the highest median home price at $35,000.
Property Tax Assessment Values Across Olaton, Ohio County, Kentucky
Source: Ownwell
$9,200
$25,600
$42,000
Median Olaton Market Value
$35,000
Median Ohio County Market Value
$23,500
Median Kentucky Market Value
$110,000
Median United States Market Value
$235,294
Property Tax Assessment Values Across Olaton, Ohio County, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 42361 | $5,000 | $10,000 | $35,000 | $65,000 | $103,360 |
Source: Ownwell
Property Tax Bills Across Olaton, Ohio County, Kentucky
Median Olaton Tax Bill
$248
Median Ohio County Tax Bill
$192
Median Kentucky Tax Bill
$1,031
Median United States Tax Bill
$2,400
Property Tax Bills Across Olaton, Ohio County, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 42361 | $20 | $80 | $248 | $521 | $867 |
Source: Ownwell
