Magoffin County, Kentucky Property Taxes
Census Bureau ACS property tax data for Kentucky. Population: 3,539.
The median annual property tax in Magoffin County is $643, which is 41% lower than the Kentucky state average and 67% below the national average. The effective tax rate is 0.73% on a median home value of $88,300. Property taxes represent 1.9% of the median household income in this county.
Median Annual Tax
$643
-41% vs State
-67% vs US
Median Home Value
$88,300
-41% vs State
-58% vs US
Effective Tax Rate
0.73%
+1% vs State
-23% vs US
With vs Without Mortgage
With Mortgage
$1,161
$97/mo
Without Mortgage
$513
$43/mo
Homeowners with a mortgage typically own higher-valued properties, which can result in higher tax bills.
Property Tax History
| Year | Median Tax | Effective Rate |
|---|---|---|
| 2023 | $643 +13.0% | 0.73% |
| 2022 | $569 +5.2% | 0.68% |
| 2021 | $541 +7.8% | 0.69% |
| 2020 | $502 +8.2% | 0.71% |
| 2019 | $464 | 0.69% |
Tax Burden
Tax-to-Income Ratio
1.9%
of median household income
Median Income
$33,632
per year
Monthly Tax
$54
per month
Other Counties in Kentucky
Livingston County
Tax: $731/yr Rate: 0.63%
Campbell County
Tax: $2,495/yr Rate: 1.06%
McCracken County
Tax: $1,342/yr Rate: 0.73%
Clinton County
Tax: $627/yr Rate: 0.55%
Perry County
Tax: $661/yr Rate: 0.73%
Metcalfe County
Tax: $743/yr Rate: 0.72%
Frequently Asked Questions
What is the average property tax in Magoffin County, Kentucky? ▼
The median annual property tax in Magoffin County is $643 based on the most recent Census Bureau American Community Survey data. The effective tax rate is 0.73% on a median home value of $88,300.
How does Magoffin County property tax compare to the national average? ▼
Property taxes in Magoffin County are 67% below the national average of $1,923. The effective rate of 0.73% compares to 0.95% nationally.
Does having a mortgage affect property taxes in Magoffin County? ▼
In Magoffin County, homeowners with a mortgage pay a median of $1,161 in annual property taxes, while homeowners without a mortgage pay $513. This difference often reflects the value of homes rather than different tax rates.
What percentage of income goes to property taxes in Magoffin County? ▼
Property taxes in Magoffin County represent approximately 1.9% of the median household income of $33,632. The national benchmark is generally 2-4% of household income.
Explore More Data
Data source: U.S. Census Bureau, American Community Survey 5-Year Estimates. Property tax data reflects median amounts paid by homeowners. Effective rates are calculated as median tax divided by median home value.