Booneville, Owsley County, Kentucky Property Taxes

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

Median Booneville, KY effective property tax rate: 1.39%, significantly higher than the national median of 1.02%, but lower than the Kentucky state median of 1.02%.
Median Booneville, KY home value: $36,500
Median annual Booneville, KY tax bill: $376, $2,024 lower than the national median property tax bill of $2,400.

How are property taxes in Owsley calculated?

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

Last Updated March 1, 2025

Booneville, Owsley County, Kentucky Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

1.39%

Estimate Property Tax Bill

$507

$471

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

Property Tax Rates Across Booneville, Owsley County, Kentucky

Local government entities determine tax rates, leading to significant variation within a state. This is because each county annually estimates its budget needs to provide essential services, dividing this by the total value of taxable property within its jurisdiction, resulting in the property tax rate. Although votes and legislation play a role in setting these rates and budgets, this is the essence of the annual process. In Booneville, located in Owsley County, KY, the effective property tax rate is 1.39%. This rate is notably higher than the national median property tax rate of 1.02%. When compared to other cities in Kentucky, Booneville's rate stands out, as it represents both the highest and lowest median tax rates in the state. This highlights the variability in property tax rates within Kentucky, emphasizing the importance of understanding local tax assessments. Booneville's property tax rate is a critical factor for property owners to consider, given its impact on annual tax bills.

Property Tax Rates Across Booneville, Owsley County, Kentucky

Source: Ownwell

1.39%

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 Booneville Tax Rate

1.39%

Median Effective Owsley County Tax Rate

1.39%

Median Effective Kentucky Tax Rate

1.02%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Booneville, Owsley County, Kentucky

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
41314	0.33%	0.90%	1.39%	1.39%	1.40%

Source: Ownwell

Property Tax Assessment Values Across Booneville, Owsley County, Kentucky

When examining property taxes in Booneville, 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 Owsley 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 Owsley 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 Booneville. For example, the median home price in Booneville is $36,500, with tax bills ranging significantly across the county. Zip code 41314 has the highest median home price at $36,500.

Property Tax Assessment Values Across Booneville, Owsley County, Kentucky

Source: Ownwell

$36,500

Median Booneville Market Value

$36,500

Median Owsley County Market Value

$36,000

Median Kentucky Market Value

$110,000

Median United States Market Value

$235,294

Property Tax Assessment Values Across Booneville, Owsley County, Kentucky

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
41314	$7,500	$18,500	$36,500	$64,625	$92,350

Source: Ownwell

Property Tax Bills Across Booneville, Owsley County, Kentucky

In Booneville, located in Owsley 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 this area is $36,500, significantly lower than the national median. Homeowners in Booneville can expect their property tax bills to vary, with the 25th percentile at $147 and the 75th percentile reaching $745. The tax bill at the 90th percentile is $1,228, which is still below the national median property tax bill of $2,400. These figures highlight the variability in property tax bills, primarily influenced by the assessed value and applicable tax rates. For homeowners looking to reduce their property tax burden, Ownwell offers valuable services. By assisting in property tax appeals and exemptions, Ownwell can help homeowners ensure their property is accurately assessed, potentially leading to significant savings. This proactive approach can alleviate financial strain and ensure homeowners are not overpaying on their property taxes.

Property Tax Bills Across Booneville, Owsley County, Kentucky

Source: Ownwell

$376

Median Booneville Tax Bill

$376

Median Owsley County Tax Bill

$355

Median Kentucky Tax Bill

$1,031

Median United States Tax Bill

$2,400

Property Tax Bills Across Booneville, Owsley County, Kentucky

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
41314	$58	$147	$376	$745	$1,228

Source: Ownwell