Kentucky · County property tax · ACS 2024
Magoffin County Property Taxes
The median homeowner in Magoffin County pays $694 a year, an effective rate of 0.78%, far below the U.S. average.
- $694
- Median tax / yr · Very low bill
- 0.78%
- Effective rate · Below-median rate
- -65%
- vs U.S. average
- #30 of 120
- rank in KY
The verdict
Homeowners in Magoffin County pay a median $694 a year in property tax, an effective rate of 0.78%, more affordable than 52% of U.S. counties (Census ACS 2024).
- $694
- Median annual tax bill, 2024
- 0.78%
- Effective rate on median home
- #1507 of 3135
- U.S. counties by tax burden
- -65%
- vs the national average bill
Effective rate is the median property tax bill divided by the median home value ($89,000). U.S. Census Bureau, ACS 5-Year Estimates · 2024.
Census Bureau ACS property tax data for Kentucky. Population: 11,348. Owner-occupied homes: 3,570.
The median annual property tax in Magoffin County is $694, which is 55% lower than the Kentucky state average and 65% below the national average. The effective tax rate is 0.78% on a median home value of $89,000. Property taxes represent 2.1% of the median household income in this county.
Why Magoffin County's ACS bill runs light vs the U.S.
Primary signal
The bill sits well below the national median
Homeowners in Magoffin County pay a median annual property tax of $694, far below the national median and far below the Kentucky state median. On a $89,000 median home, that works out to an effective rate of 0.78% once the local assessment base and millage are combined.
Decision signal 2
Low among Kentucky counties by effective rate
Magoffin County ranks #30 of 120 counties in Kentucky by effective rate (75% of in-state counties pay a lower rate).
Decision signal 3
Income and the tax bill sit in the middle band
Property taxes in Magoffin County run within the commonly cited 2%-4% national benchmark, at about 2.1% of the $33,080 median household income.
Decision signal 4
The latest release moved the bill up
Since 2023, the published ACS median estimate has ticked up 7.9%, from $643 to $694. This compares two release estimates; it does not identify a local policy, assessment, exemption, or household-bill cause.
Decision signal 5
The effective rate sits near the national middle
Magoffin County's 0.78% effective rate sits near the middle of 3,135 tracked counties (more affordable than 52%).
Informational notice
Figures describe the median homeowner household in Magoffin County as reported to the Census Bureau; your parcel can differ. Not tax, legal, or financial advice: check the county assessor or a qualified professional before decisions that depend on these numbers.
How to read this county's bill
The bill here climbed steeply over 2020-2024, up 38% from $502 to $694. These ACS medians describe the reported change; they do not identify whether a levy, assessment, home value, or change in the responding households caused it.
The largest reported group here falls at the bottom of the national range: 1,268 of 3,570 owner-occupied homes (35.5%) report annual real-estate taxes under $800. This distribution describes reported owner-occupied homes, not an affordability judgment for any property.
Incomes here are in the lowest quarter nationally while the rate sits just below the middle, and the median bill lands at 2.1% of median household income. The rate reads as unremarkable in a national ranking; the earnings behind it are not, and the ratio above is where the two meet.
The share above is the median annual bill divided by median household income, a ratio of two county-level medians rather than a household-by-household figure.
Paying off the mortgage changes the picture here
39.7% of Magoffin County homes owned free and clear (1,080 of 2,719) report no property tax at all, against 18.6% of homes still carrying a mortgage. A reported zero is not proof of an exemption: it can equally mean a bill paid by another party, or a reporting artefact. But a gap this size is where age- and disability-based relief usually shows up, because those programmes reach owners who have finished paying.
What Magoffin County Homeowners Actually Pay
The single largest group of Magoffin County homeowners, 1,268 of 3,570 owner-occupied homes (35.5%), pays less than $800 a year. The median is one point in this spread, not a typical bill.
- Less than $800 35.5% (1,268)
- $800 to $1,499 17.2% (615)
- $1,500 to $1,999 2.0% (72)
- $2,000 to $2,999 4.1% (148)
- $3,000 or more 6.4% (229)
Census ACS 2024, table B25102. Bands and the no-tax share sum to 100%.
1,238 homes here (34.7%) report no real estate tax at all, an unusually large share, high enough that the median bill above describes a minority of Magoffin County homeowners. Exemptions are set by state: how Kentucky handles assessments and appeals.
With vs Without Mortgage
Mortgaged homeowners in Magoffin County pay more than double the bill of those without one (+123%), the widest kind of value gap this dataset tracks.
Magoffin County's bill vs state & U.S. medians
Median annual bill bars around Magoffin County's LIGHT ACS 2024 figure.
Magoffin County's median bill is 55% below the Kentucky median and 65% below the U.S. median.
What changed since 2020
The median bill in Magoffin County moved from $502 in the 2020 release to $694 in 2024, a change of about 38%. These are American Community Survey 5-year estimates compared across releases that share only one sample year, which is why this page never compares consecutive releases: those overlap in four years of the same households and move mostly on sampling.
Magoffin County vs Benchmarks
| Metric | Magoffin County | Kentucky Avg | U.S. Avg |
|---|---|---|---|
| Median Annual Tax Very low bill | |||
| Effective Tax Rate Below-median rate | |||
| Median Home Value | |||
| Tax as % of income Below-median income burden | 2.1% | - | - |
Source: U.S. Census Bureau, ACS 5-Year Estimates. Tax-burden differences across rows reflect millage decisions, assessment-ratio practices, and the residential-vs-commercial mix of each tax base.
Magoffin County is UNDER · LIGHT on ACS medians, still verify your parcel card before quoting the county figure. Estimate appeal savings · Kentucky counties.
Magoffin County bill trail · LIGHT
| Year | Median Tax (vs prior release) | Effective Rate |
|---|---|---|
| 2024 | $694 +7.9% | 0.78% |
| 2023 | $643 +13.0% | 0.73% |
| 2022 | $569 +5.2% | 0.68% |
| 2021 | $541 +7.8% | 0.69% |
| 2020 | $502 | 0.71% |
Each row is a separate ACS 5-year release, and consecutive releases share four of their five survey years. The percentage beside each bill is therefore movement in the published estimate against the previous release, not a single year's tax change. The two releases largely describe the same households. For change over time, compare releases that do not overlap.
Magoffin County: tax-to-income at 2.1%
Counties near Magoffin County's median bill
On effective rate, Magoffin County sits nearest Pike County (IN), Boone County (IN), Nez Perce County (ID).
On published median-tax change, the nearest matches are Perry County (IN), Shelby County (IN), Bryan County (OK).
How peers are chosen
These are the nearest cross-state matches in the published Census data, not neighboring counties or recommendations. Peers are rebuilt with each data release; see the calculation method.
Similar effective rates
Similar published median-tax changes, 2020–2024
Magoffin County: only 1% of returns show Schedule A real-estate tax
Tax year 2022: 30 of 3,890 returns from Magoffin County reported real estate taxes, averaging $1,867 - 100% of those reporters sat in the $75-100k AGI band.
What this IRS county file does not say
Amounts are reported before the SALT cap, not deducted; the share is of filers, not homeowners. Source: IRS SOI county data, tax year 2022.
Other Counties in Kentucky
Magoffin County bill FAQs
- How does Magoffin County property tax compare to the national average?
- Property taxes in Magoffin County run far below the national median of $1,993, an effective rate of 0.78% versus 0.92% nationally.
- Are property taxes increasing in Magoffin County?
- The ACS median property-tax bill for Magoffin County is recorded at $694 in the 2024 5-year release against $502 in 2020. That is a large swing, and it should be read as movement in a survey estimate rather than as a tax change: the median here rests on about 3,570 owner-occupied homes, and swings above 50% are roughly twelve times more common in the smallest counties than in the largest. Treat the two figures as imprecise and check the county assessor for actual rate changes.
- What percentage of income goes to property taxes in Magoffin County?
- Property taxes in Magoffin County run within the commonly cited 2%-4% national benchmark, at about 2.1% of the $33,080 median household income.
- What is the average property tax in Magoffin County, Kentucky?
- The median annual property tax in Magoffin County is $694, an effective rate of 0.78% on a $89,000 median home (Census ACS, 2024).
- What is the tax affordability score for Magoffin County?
- Magoffin County, Kentucky scores C (59/100) on PlainPropertyTax's tax affordability composite across 5 Census ACS dimensions (effective rate, bill size, income share, mortgage gap, and home-value/income). Its strongest scored dimension here is bill size at A+ ($694/yr). The score compares published county medians to U.S. percentiles, it is not a personal bill and not advice to buy, sell, appeal, or relocate.
What to do with Magoffin County's LIGHT bill
Magoffin County's $694 median bill sits well below the U.S. median - still size a parcel estimate; local millage and exemptions move the real bill. Estimate your bill →
Magoffin County ranks #30 of 120 Kentucky counties by effective rate - on the higher-burden half of the state ACS set. Kentucky overview →
Nationwide peers by median bill (then rate)
Bill-first peers for Magoffin County's LIGHT median, then a disjoint out-of-state rate set, not the same-state geography lattice.
Similar effective rate
Nearest out-of-state counties by ACS effective rate. This county: 0.78%.
Similar median bill
Nearest out-of-state counties by ACS median annual tax. This county: $694/yr. Rate peers are excluded so the two link sets stay distinct.
Read with Magoffin County
Nearest ABS(median_tax) ACS peers for Magoffin County (UNDER · LIGHT), replacing the old fixed Keep exploring strip.
UNDER LIGHT
Meigs County, TN
ABS(median_tax) peer · $693/yr (near-tied bill ABS $1); rate 0.39% vs Magoffin County 0.78%.
Van Buren County, TN
ABS(median_tax) peer · $693/yr (near-tied bill ABS $1); rate 0.44% vs Magoffin County 0.78%.
Wise County, VA
ABS(median_tax) peer · $693/yr (near-tied bill ABS $1); rate 0.58% vs Magoffin County 0.78%.
Lewis County, WV
ABS(median_tax) peer · $692/yr (near-tied bill ABS $2); rate 0.46% vs Magoffin County 0.78%.
Kentucky county set
State ACS overview for every published Kentucky county rate and median bill.
Assessment cycle basics
Magoffin County stamps UNDER · LIGHT - how assessed value and millage become the ACS median bill.
Data vintage and method
Data as of 2024. 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.
Source: U.S. Census Bureau American Community Survey 5-Year Estimates, county median real-estate taxes · 2024 Magoffin County (UNDER · LIGHT) - ACS medians, not a parcel bill.