Russell County, Kentucky Property Taxes

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

Median Russell County effective property tax rate: 0.97%, slightly lower than the national median of 1.02%.
Median Russell County home value: $46,000
Median annual Russell County tax bill: $357, $2,043 lower than the national median property tax bill of $2,400.

How are property taxes in Russell County calculated?

Property taxes in Russell County 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 your county's property tax system, exemptions, and reduction opportunities can lead to significant savings. Whether you live in Russell Springs or another part of Russell County, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

Russell County, Kentucky Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

0.97%

Estimate Property Tax Bill

$446

$414

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

Property Tax Rates Across Russell County, Kentucky

Local government entities in Kentucky set tax rates, which can vary widely within the state. Each year, Russell County estimates its required budget to fund essential 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.

Below, you can compare Russell County's effective property tax rate to other counties in Kentucky or the U.S. median property tax rate. With a median property tax rate of 0.97%, Russell County's rate is slightly below the national median of 1.02%. This means that residents in Russell County enjoy a relatively lower tax burden compared to the national average. However, within Kentucky, tax rates can vary, with some areas having rates as high as 0.97% and as low as 0.97%, as seen in Albany. Understanding these differences can help property owners make informed decisions about potential savings through property tax appeals or exemptions.

Property Tax Rates Across Russell County, Kentucky

Source: Ownwell

0.97%

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 Russell County Tax Rate

0.97%

Median Effective Kentucky Tax Rate

1.02%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Russell County, Kentucky

City	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
Albany	0.89%	0.97%	0.97%	0.97%	0.97%
Dunnville	0.33%	0.69%	0.97%	0.97%	0.97%
Jamestown	0.62%	0.97%	0.97%	0.97%	0.97%
Nancy	0.97%	0.97%	0.97%	0.97%	0.97%
Russell Springs	0.47%	0.97%	0.97%	0.97%	0.97%
Columbia	N/A	N/A	N/A	N/A	N/A
Glens Fork	N/A	N/A	N/A	N/A	N/A
Windsor	N/A	N/A	N/A	N/A	N/A

Source: Ownwell

Property Tax Assessment Values Across Russell County, Kentucky

When examining property taxes in Russell County, 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 Russell 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. Assessment notices: In Russell 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 Russell County. For example, the median tax bill in Russell County is $824, with tax bills ranging significantly across the county. Albany has the highest median home price at $130,000.

Property Tax Assessment Values Across Russell County, Kentucky

Source: Ownwell

$14,000

$72,000

$130,000

Median Russell County Market Value

$46,000

Median Kentucky Market Value

$110,000

Median United States Market Value

$235,294

Property Tax Assessment Values Across Russell County, Kentucky

City	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
Albany	$20,000	$32,500	$130,000	$162,500	$216,800
Dunnville	$3,940	$16,250	$50,000	$91,000	$140,920
Jamestown	$5,000	$15,238	$54,800	$117,475	$210,000
Nancy	$2,000	$4,000	$14,000	$40,450	$89,000
Russell Springs	$6,000	$17,000	$53,000	$95,000	$150,000
Columbia	N/A	N/A	N/A	N/A	N/A
Glens Fork	N/A	N/A	N/A	N/A	N/A
Windsor	N/A	N/A	N/A	N/A	N/A

Source: Ownwell

Property Tax Bills Across Russell County, Kentucky

In Russell County, KY, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. This assessed value is a percentage of the property's market value. The property tax rate is then applied to this assessed value to calculate the tax bill. In Russell County, the median home price is $46,000, which results in a lower property tax bill compared to the national median. For instance, the 25th percentile tax bill is $116, while the 75th percentile reaches $824. The 90th percentile tax bill goes up to $1,550, indicating variability based on property values and locations within the county. Homeowners in Russell County benefit from relatively low property tax bills, especially when compared to the national median property tax bill of $2,400. However, the highest median tax bill in the region is $1,163 in Albany, showing that some areas may have higher property tax burdens. Understanding these factors helps homeowners anticipate their annual property tax obligations.

Property Tax Bills Across Russell County, Kentucky

Source: Ownwell

$116

$640

$1,163

Median Russell County Tax Bill

$357

Median Kentucky Tax Bill

$1,031

Median United States Tax Bill

$2,400

Property Tax Bills Across Russell County, Kentucky

City	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
Albany	$194	$315	$1,163	$1,575	$1,985
Dunnville	$19	$97	$426	$703	$1,298
Jamestown	$48	$132	$436	$1,066	$1,986
Nancy	$19	$39	$116	$368	$784
Russell Springs	$48	$145	$388	$824	$1,410
Columbia	N/A	N/A	N/A	N/A	N/A
Glens Fork	N/A	N/A	N/A	N/A	N/A
Windsor	N/A	N/A	N/A	N/A	N/A

Source: Ownwell