Morganfield, Webster County, Kentucky Property Taxes
Median Morganfield, KY effective property tax rate: 1.13%, significantly higher than the national median of 1.02%, but lower than the Kentucky state median of 1.02%.
Median Morganfield, KY home value: $54,250
Median annual Morganfield, KY tax bill: $506, $1,894 lower than the national median property tax bill of $2,400.
How are property taxes in Webster County calculated?
Property taxes in Morganfield, 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 Morganfield’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Morganfield, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Morganfield, Webster County, Kentucky Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
1.13%
Estimate Property Tax Bill
$613
$569
Property Tax Rates Across Morganfield, Webster County, Kentucky
Local government entities determine property tax rates, leading to significant variation within a state. This process involves each county estimating its required budget for services and dividing that by the total value of all taxable property within its jurisdiction, resulting in the property tax rate. While votes and laws influence tax rates and budgets, this annual calculation is the crux of the process.
In Morganfield, located in Webster County, Kentucky, the effective property tax rate offers an interesting comparison to other cities in the state and the national average. Kentucky's median property tax rate stands at 1.13%, slightly above the national median of 1.02%. This positions Kentucky as a state with relatively higher property tax rates compared to the national landscape.
For residents of Morganfield, understanding how local tax rates compare can be crucial for financial planning. Kentucky's property tax rates, being higher than the national average, may impact decisions on property investment and homeownership within the state. This insight into property tax trends underscores the importance of being well-informed about local and national tax landscapes.
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 Morganfield Tax Rate
1.13%
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 Webster County Tax Rate
1.13%
Median Effective Kentucky Tax Rate
1.02%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Morganfield, Webster County, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 42437 | 0.59% | 1.13% | 1.13% | 1.13% | 1.13% |
Source: Ownwell
Property Tax Assessment Values Across Morganfield, Webster County, Kentucky
When examining property taxes in Morganfield, 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 Webster 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 Webster 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 Morganfield. For example, the median home price in Morganfield is $54,250, with tax bills ranging significantly across the county. Zip code 42437 has the highest median home price at $54,250.
Property Tax Assessment Values Across Morganfield, Webster County, Kentucky
Source: Ownwell
$19,950
$57,975
$96,000
Median Morganfield Market Value
$54,250
Median Webster County Market Value
$46,000
Median Kentucky Market Value
$110,000
Median United States Market Value
$235,294
Property Tax Assessment Values Across Morganfield, Webster County, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 42437 | $5,410 | $24,375 | $54,250 | $142,450 | $200,200 |
Source: Ownwell
Property Tax Bills Across Morganfield, Webster County, Kentucky
In Morganfield, located in Webster County, KY, property tax bills are calculated based on the assessed value of a home, which is determined by local tax assessors. This assessed value is then multiplied by the local tax rate to calculate the annual property tax bill. The median home price in Morganfield is $54,250, resulting in tax bills that range from $250 at the 25th percentile to $1,982 at the 90th percentile. The median tax bill stands at $506, significantly lower than the national median of $2,400. Homeowners in Morganfield face tax bills that can vary widely based on factors such as property location, improvements, and market trends.
Ownwell assists homeowners in reducing their property tax burdens by offering expert property tax appeal and exemption services. By analyzing property assessments and identifying discrepancies, Ownwell can help homeowners challenge overvaluations, potentially leading to significant savings on their property tax bills. This service ensures that homeowners only pay their fair share, alleviating financial pressure and maximizing savings.
Median Morganfield Tax Bill
$506
Median Webster County Tax Bill
$344
Median Kentucky Tax Bill
$1,031
Median United States Tax Bill
$2,400
Property Tax Bills Across Morganfield, Webster County, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 42437 | $61 | $250 | $506 | $1,521 | $1,982 |
Source: Ownwell