Waddy, Shelby County, Kentucky Property Taxes
Median Waddy, KY effective property tax rate: 1.17%, significantly higher than the national median of 1.02%, but lower than the Kentucky state median of 1.02%.
Median Waddy, KY home value: $115,000
Median annual Waddy, KY tax bill: $1,183, $1,217 lower than the national median property tax bill of $2,400.
How are property taxes in Shelby calculated?
Property taxes in Waddy, 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 Waddy’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Waddy, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Waddy, Shelby County, Kentucky Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
1.17%
Estimate Property Tax Bill
$1,345
$1,249
Property Tax Rates Across Waddy, Shelby County, Kentucky
Local government entities set tax rates, which can vary widely within a state. The reason for this is that each county annually estimates its required budget to provide 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 Waddy’s effective property tax rate to other cities in Kentucky and the median property tax rates in Kentucky and the U.S.
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 Waddy Tax Rate
1.17%
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 Shelby County Tax Rate
1.15%
Median Effective Kentucky Tax Rate
1.02%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Waddy, Shelby County, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 40076 | 0.65% | 1.02% | 1.17% | 1.19% | 1.23% |
Source: Ownwell
Property Tax Assessment Values Across Waddy, Shelby County, Kentucky
When examining property taxes in Waddy, 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 Shelby 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 Shelby County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of May. 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 Waddy. For example, the median home price in Waddy is $115,000, with tax bills ranging significantly across the county. ZIP code 40076 has the highest median home price at $115,000.
Property Tax Assessment Values Across Waddy, Shelby County, Kentucky
Source: Ownwell
$50,000
$222,500
$395,000
Median Waddy Market Value
$115,000
Median Shelby County Market Value
$175,000
Median Kentucky Market Value
$110,000
Median United States Market Value
$235,294
Property Tax Assessment Values Across Waddy, Shelby County, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 40076 | $28,200 | $61,000 | $115,000 | $185,640 | $280,000 |
Source: Ownwell
Property Tax Bills Across Waddy, Shelby County, Kentucky
Median Waddy Tax Bill
$1,183
Median Shelby County Tax Bill
$1,854
Median Kentucky Tax Bill
$1,031
Median United States Tax Bill
$2,400
Property Tax Bills Across Waddy, Shelby County, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 40076 | $213 | $575 | $1,183 | $2,027 | $3,154 |
Source: Ownwell