Scott County Real Estate and Livability Trends
Scott County, Kentucky, has seen a notable rise in median home values, skyrocketing from $164,600.00 in 2015 to $240,800.00 in 2022, outstripping state and national averages. The increasing real estate taxes, now at $2,907.19 for 2021, and a reduction in farm tax returns from 4.17% in 2012 to 2.82% in 2021 suggest economic diversification or shifts away from agriculture. Investors might find the... Read more
Scott County Market Trends
Scott County, Kentucky, has experienced a significant rise in median home values, jumping from $164,600 in 2015 to $240,800 in 2022, outpacing both state and national averages. The fluctuations in residential energy tax credits, peaking notably in 2018 at $3,537.50, highlight periods of increased energy-efficient home improvements. Consistently rising real estate taxes, reaching $2,907.19 in... Read more
Median Value of Occupied Housing Units in Scott County, Kentucky Over the Last 8 Years
Scott County, Kentucky has seen a substantial increase in median home values from $164,600 in 2015 to $240,800 in 2022. This growth outpaces both Kentucky's statewide median, which rose from $123,200 to $177,000 during the same period, and the national median, which increased from $125,500 to $179,400. This significant appreciation in Scott County could suggest strong local demand and potential for value retention, making it an appealing location for investors, homebuyers, and developers aiming to capitalize on rising property values.
Residential Energy Tax Credit Per Tax Return in Scott County, KY Over the Last 9 Years
Scott County, Kentucky has seen significant fluctuations in residential energy tax credits per tax return over the past nine years. Notably, there was a peak in 2018 with an average credit of $3,537.50, which suggests a substantial investment in energy-efficient home improvements that year. While the average tax credit dropped to $1,036.36 in 2020, it rebounded to $1,747.06 in 2021. These trends could indicate periods of increased incentives or shifts in homeowner priorities toward energy efficiency, which may be of interest to investors, real estate agents, and developers aiming to understand local market dynamics.
Average Real Estate Taxes Per Tax Return in Scott County, KY Over the Last 10 Years
Over the past decade, Scott County, Kentucky has experienced a consistent rise in average real estate taxes per tax return. Starting at $1,616.45 in 2012, there has been a notable increase each year, with values reaching $2,907.19 by 2021. This trend may indicate a growing valuation of properties within the area, potentially reflecting economic growth or changes in tax policies. For investors, real estate agents, and appraisers, understanding these tax trends could be crucial in assessing property values and anticipated expenses.
Percentage of Farm Returns in Scott County, KY Over the Last 10 Years
Over the last decade, Scott County, Kentucky has seen a general decline in the percentage of farm tax returns, dropping from approximately 4.17% in 2012 to around 2.82% in 2021. Farm tax returns in this context refer to tax filings by entities engaged in farming activities, providing a useful indicator of the agrarian economic health. This decreasing trend could suggest a shifting economic landscape, potentially signaling broader economic diversification or challenges within the agricultural sector. Investors, builders, and new residents might find these insights relevant for understanding local economic trends and making informed decisions.
Number of Mortgages by Occupancy Type in Scott County, KY Over the Last 5 Years in Scott County
Scott County, Kentucky has seen fluctuating mortgage counts over the past five years, with principal residences consistently making up the majority. Notably, there has been a significant increase in mortgages for principal residences from 2018 to 2020, peaking at 5,652 in 2020, then declining to 3,453 in 2022. Investment property mortgages peaked in 2021 at 238 but have seen a decline since. Second residences have remained fairly constant and minor compared to other occupancy types. These changes can impact property values, rental market dynamics, and overall economic growth in the area. For investors, understanding these trends offers insight into potential demand shifts, while appraisers and insurance agents could use this data to assess risk and property values more accurately. Real estate agents and future residents might gauge the community's growth and stability by tracking these occupancy shifts.
Economic Outlook
The upward trend in the average taxable income per tax return in Scott County, Kentucky, from $56,452.89 in 2013 to $75,349.93 in 2021, hints at a flourishing local economy and higher earning potential. However, the concurrent rise in state and local income taxes, jumping from $6,932.29 in 2012 to $11,159.77 in 2021, suggests residents may face increasing fiscal responsibilities. Additionally, the average total tax liability per tax return, peaking at $11,085.77 in 2021, indicates potential... Read more
Average Taxable Income per Tax Return in Scott County, KY over the last 9 years
The average taxable income per tax return in Scott County, Kentucky has shown a generally upward trend over the last nine years, with values rising from $56,452.89 in 2013 to $75,349.93 in 2021. This pattern may signal a strengthening local economy and increased earning potential, making the area potentially more attractive for investors, real estate agents, and those considering a move. However, this increase in taxable income could also imply higher cost of living and property values, which are important considerations for future residents, appraisers, and insurance agents alike.
Average State and Local Income Taxes Per Tax Return in Scott County, KY Over the Last 10 Years
Over the past decade, Scott County, Kentucky has seen a notable upward trajectory in the average state and local income taxes per tax return, jumping from $6,932.29 in 2012 to $11,159.77 in 2021. This steady increase suggests a strengthening local economy, which may be attractive for potential investors and those considering relocating. The marked rise especially post-2017, where the value shot up from $8,223.89 to $9,936.84 in just a year, hints at significant economic developments or policy changes during that period. Understanding these trends is crucial for anyone looking to build property or establish residency here, as it might reflect both the growth and rising fiscal responsibilities within the community.
Average Total Tax Liability Per Tax Return in Scott County, KY Over the Last 10 Years
In Scott County, Kentucky, there seems to be an upward trend in the average total tax liability per tax return over the last decade. Starting at around $7,859.05 in 2012, the tax liability has steadily risen, reaching an approximate peak of $11,085.77 in 2021. This could potentially signal an increase in local earnings or property values, making it essential for investors and prospective residents to factor in the evolving tax landscape when making financial decisions.
Cost of Living in Scott County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,489 | $1,387 | $1,789 | $1,218 | $1,446 |
| 1 adult 4 children | $1,489 | $1,133 | $1,367 | $1,218 | $1,558 |
| 2 adults 3 children | $1,489 | $1,133 | $1,553 | $1,218 | $1,217 |
| 1 adult 3 children | $1,489 | $925 | $1,131 | $1,218 | $1,312 |
| 2 adults 2 children | $1,093 | $928 | $1,317 | $1,072 | $997 |
| 1 adult 2 children | $1,093 | $693 | $894 | $1,072 | $968 |
| 2 adults 1 child | $1,093 | $733 | $1,080 | $598 | $941 |
| 1 adult 1 child | $1,093 | $474 | $658 | $598 | $806 |
| 2 adults | $901 | $589 | $844 | $0 | $787 |
| 1 adult | $753 | $321 | $422 | $0 | $615 |
Safety trends & Data
Scott County, Kentucky, has seen significant changes in property crime over the past five years, especially with larceny-theft incidents dropping from 149 in 2018 to just 35 in 2022. Burglaries and motor vehicle thefts have fluctuated, and charges for stolen property maintain a steady presence. These trends could impact local real estate values, insurance costs, and investor interest, making it a crucial factor for potential buyers and investors to... Read more
Property Crime Trends in Scott County, KY Over the Last 5 Years
Scott County, Kentucky has experienced some notable shifts in property crime patterns over the past five years. Larceny-theft, which was quite prominent in 2018 and 2019 with 149 and 166 incidents respectively, saw a stark decrease by 2022, dropping to 35 incidents. Conversely, there have been smaller but steady numbers for burglary and motor vehicle thefts fluctuating over the years. Interestingly, charges related to stolen property show minor but consistent occurrences, demonstrating ongoing issues despite overall crime declines in some areas. These patterns may influence real estate values, insurance premiums, and investment decisions in the county.
Demographics
In Scott County, Kentucky, the 2022 demographic data reveals a slightly higher number of females than males. The educational landscape shows a concentration of high school graduates and those with some college experience, while fewer individuals have achieved graduate or professional degrees. Age distribution skews younger, with a significant portion of the population under 35 years old. Racial composition is predominantly White, with African Americans being the largest minority group. These... Read more
Race Distribution in Scott County, Kentucky (2022)
Educational Attainment in Scott County, Kentucky (2022)
Age Distribution in Scott County, Kentucky
Citizen Population in Scott County, Kentucky (2022)
Political Trends & Data
Scott County, Kentucky, seems to exhibit strong Republican support, with about 61% of the 2020 U.S. Presidential Election vote going to the Republican party. The Democratic party managed approximately 36%, showing a distinct partisan trend. Libertarians and other minor parties made minimal impact, collectively garnering just over 1.5% of the vote, indicating their limited role in shaping the local political... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
In Scott County, Kentucky, the Republican party appeared to secure a significant lead, with roughly 61% of the vote in the 2020 U.S. Presidential Election. Meanwhile, the Democratic party gathered around 36%, suggesting a noticeable partisan leaning. Minor parties like the Libertarians had a marginal presence, capturing just over 1.5% of the vote, highlighting the limited influence of third-party candidates in this county.
61.36% of voters voted for the Republican party in the 2020 Presidential Election
36.49% of voters voted for the Democrat party in the 2020 Presidential Election
1.66% of voters voted for the Livertarian party in the 2020 Presidential Election
0.49% of voters voted for the Other party in the 2020 Presidential Election
School Data
In Scott County, Kentucky, the student-to-teacher ratio has dropped significantly over the past decade, falling from nearly twenty students per teacher in 2014 to just above fourteen in 2023. This brings the county in line with the current national average and may signal improved educational resources. For real estate investors and builders, this trend could attract families looking for better educational environments, potentially enhancing market desirability. Appraisers and insurance agents... Read more
Student-to-teacher ratio in Scott County, Kentucky over the last 10 years
The student-to-teacher ratio in Scott County, Kentucky has steadily decreased over the last decade, dropping from nearly twenty students per teacher in 2014 to just above fourteen in 2023. This trend might indicate enhanced educational resources and could potentially result in improved academic outcomes. Comparing this to the current national average of fourteen students per teacher, Scott County has reached parity, suggesting a competitive edge in educational investment. For those involved in property investment, building, or real estate, this could be an appealing factor as lower ratios often attract families seeking favorable educational environments. Appraisers and insurance agents might also find this trend noteworthy when assessing the area's market desirability and insurance risks.
