Taylor County Real Estate and Livability Trends
Taylor County, Kentucky has shown promising economic growth, with average taxable income per tax return rising from $38,810.75 in 2013 to $49,065.90 in 2021. Property values have surged, evidenced by median home values jumping from $93,700 in 2015 to $156,800 in 2022, outperforming state and national rates. Despite a shift away from agriculture, there's robust demand for primary residences, with... Read more
Taylor County Market Trends
Taylor County, Kentucky has seen a substantial rise in median home values, growing from $93,700 in 2015 to $156,800 in 2022, a higher growth rate compared to state and national levels. Average real estate taxes have also climbed significantly over the past decade, suggesting increased property valuations or new local policies. Noteworthy is the variability in the average residential energy tax... Read more
Median Value of Occupied Housing Units in Taylor County, Kentucky Over the Last 8 Years
Taylor County, Kentucky has seen significant growth in its median home values over the last eight years, jumping from $93,700 in 2015 to $156,800 in 2022. This represents a notable increase, especially when compared to the state and national levels. Kentucky's median home values rose from $123,200 to $177,000 within the same period, while the national figures went from $125,500 to $179,400. Prospective investors might find Taylor County attractive due to its relatively modest starting point and consistent upward trajectory, offering potential for continued growth.
Residential Energy Tax Credit Per Tax Return in Taylor County, KY Over the Last 8 Years
In Taylor County, Kentucky, the average residential energy tax credit per tax return has shown significant fluctuations over the past eight years. In 2013, the average credit was a modest $241.18, with a noticeable rise to $375.00 in 2016. The credit peaked remarkably at $716.67 in 2021, indicating more substantial investments or incentives in residential energy efficiency. This variability could intrigue potential investors, appraisers, and property developers, suggesting a growing awareness and possible state or local incentives pushing for energy-efficient homes.
Average Real Estate Taxes Per Tax Return in Taylor County, KY Over the Last 10 Years
Over the past decade, Taylor County, Kentucky has seen a significant increase in average real estate taxes per tax return, starting from approximately $1,270.88 in 2012 and reaching around $2,514.81 by 2021. Notably, there's a noticeable jump between 2017 and 2018, where the average tax surged from roughly $1,628.57 to $2,261.11. This may suggest new local government policies or increased property valuations during that period. For investors, insurance agents, and real estate professionals, understanding these trends could be crucial for accurately projecting future costs and understanding the economic dynamics of Taylor County.
Percentage of Farm Returns in Taylor County, KY Over the Last 10 Years
In Taylor County, Kentucky, the percentage of farm tax returns has shown a mild but noticeable decline over the last decade. Starting from 9.35% in 2012, it has gradually decreased to 7.32% in 2021. Farm tax returns in this context suggest the proportion of tax filings from agricultural activities as compared to other sectors. This trend could indicate a potential decrease in farming activity or a diversification into other income sources in the county. It's a noteworthy point for investors and anyone interested in the local economy, suggesting a shift in agricultural dynamics that might influence property investment and economic strategies.
Number of Mortgages by Occupancy Type in Taylor County, KY Over the Last 5 Years in Taylor County
Taylor County, Kentucky has seen varying trends in mortgage counts by occupancy type over the last five years, with principal residences consistently dominating the market. The number of mortgages for principal residences peaked in 2021 at 910, suggesting a robust demand for primary homes. In contrast, investment property mortgages have shown a slight decrease, dropping from 36 in 2019 to 18 in 2021. Second residences have remained relatively stable but low in number. For investors, this decrease in investment property mortgages may indicate less competition and more opportunities in the rental market. Appraisers and insurance agents should note the predominant focus on primary residences, which could affect property values and risk assessments. Builders and real estate agents might find lucrative prospects in catering to the steady demand for principal residences.
Economic Outlook
Taylor County, Kentucky has seen a consistent climb in average taxable income per tax return, from around $38,810.75 in 2013 to roughly $49,065.90 by 2021, hinting at an increasingly strong local economy. Concurrently, average state and local income taxes per tax return have also risen significantly, starting at $5,591.28 in 2012 and reaching $10,251.72 by 2021. The average total tax liability has shown a general upward trend as well, peaking at about $6,270.68 in 2016 and maintaining a level... Read more
Average Taxable Income per Tax Return in Taylor County, KY over the last 9 years
Over the past nine years, Taylor County, Kentucky has generally seen a steady increase in average taxable income per tax return. Starting from around $38,810.75 in 2013 and climbing to approximately $49,065.90 in 2021, this growth trend might indicate a potentially flourishing local economy. Investors, real estate agents, and insurance agents may find these insights useful as they suggest a gradually improving financial climate, possibly making Taylor County a more attractive place for investment and property development.
Average State and Local Income Taxes Per Tax Return in Taylor County, KY Over the Last 10 Years
Taylor County, Kentucky has seen a marked increase in average state and local income taxes per tax return over the past decade. Starting at $5,591.28 in 2012, the figure rose steadily, then spiked to $10,350.00 in 2018. Despite some fluctuations, by 2021 it reached $10,251.72. For investors and potential residents, these rising tax rates could be an essential consideration when planning financial commitments or assessing the cost-effectiveness of relocating or investing in this area.
Average Total Tax Liability Per Tax Return in Taylor County, KY Over the Last 10 Years
Over the last decade, Taylor County, Kentucky has seen fluctuating average total tax liabilities per tax return, generally trending upward. Starting at around $5,025.89 in 2012, the figure peaked notably in 2016 at approximately $6,270.68, followed by some variability but remained above $5,391.38 from 2018 onward. Investors, prospective residents, and developers may find this pattern indicative of economic growth within the region, potentially reflective of rising incomes or property values.
Cost of Living in Taylor County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $993 | $1,223 | $1,820 | $1,362 | $1,112 |
| 1 adult 4 children | $993 | $998 | $1,392 | $1,362 | $1,161 |
| 2 adults 3 children | $993 | $999 | $1,579 | $1,362 | $909 |
| 1 adult 3 children | $993 | $815 | $1,151 | $1,362 | $935 |
| 2 adults 2 children | $742 | $818 | $1,338 | $1,204 | $802 |
| 1 adult 2 children | $742 | $611 | $910 | $1,204 | $719 |
| 2 adults 1 child | $742 | $646 | $1,097 | $692 | $749 |
| 1 adult 1 child | $742 | $417 | $669 | $692 | $632 |
| 2 adults | $630 | $519 | $856 | $0 | $616 |
| 1 adult | $626 | $283 | $428 | $0 | $540 |
Safety trends & Data
Property crime rates in Taylor County, Kentucky have seen fluctuations over the past five years, with burglary arrests peaking at 55 in 2019 but declining to 21 by 2022, and larceny-thefts dropping from over 120 in both 2018 and 2019 to just 23 in 2022. Motor vehicle thefts and vandalism have remained consistently low. These trends could indicate improving security, which might be worth noting for investors and potential... Read more
Property Crime Trends in Taylor County, KY Over the Last 5 Years
Property crime rates in Taylor County, Kentucky have shown noticeable fluctuations over the last five years. Burglary arrests peaked in 2019 with 55 instances but have since declined to 21 in 2022, suggesting potential improvement in security measures. Larceny-theft was significantly high in 2018 and 2019, with more than 120 occurrences, before dropping sharply to just 23 by 2022. Motor vehicle thefts and vandalism incidents have remained relatively low and stable. Any investors or potential residents should consider these trends as they reflect the county's evolving safety landscape.
Demographics
Taylor County, Kentucky in 2022 shows a slightly higher female population compared to males. The largest age group tends to be those 55 to 64 years, potentially indicating an aging population. In terms of educational attainment, a significant portion of adults are high school graduates, and there's a notable number with some college education but no degree. The racial composition is predominantly White, with other racial groups making up a relatively small percentage. This demographic landscape... Read more
Race Distribution in Taylor County, Kentucky (2022)
Educational Attainment in Taylor County, Kentucky (2022)
Age Distribution in Taylor County, Kentucky
Citizen Population in Taylor County, Kentucky (2022)
Political Trends & Data
Taylor County, Kentucky strongly leaned Republican in the 2020 U.S. Presidential Election, with nearly 75% of the vote going to the GOP. Democrats secured just over 23%, and the Libertarian party barely hit 1%. This significant Republican preference might influence future political strategies in the county, potentially impacting local policies and real estate developments as parties cater to voter... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
Taylor County, Kentucky saw a strong preference for the Republican party in the 2020 U.S. Presidential Election, with nearly 75% of the vote. Democrats garnered just over 23%, while the Libertarian party had very minimal support, barely reaching 1%. This dominant lean towards Republicans might reflect the county's broader political leanings and could shape future electoral strategies for both major and minor parties in the area.
74.95% of voters voted for the Republican party in the 2020 Presidential Election
23.67% of voters voted for the Democrat party in the 2020 Presidential Election
0.95% of voters voted for the Livertarian party in the 2020 Presidential Election
0.43% of voters voted for the Other party in the 2020 Presidential Election
School Data
Over the past decade, Taylor County, Kentucky has seen its student-to-teacher ratio fluctuate, peaking at 17 in 2020 before falling to around 15 in 2023. With several years exceeding the U.S. national average of 14 students per teacher, families might notice periods of larger class sizes, potentially straining educational resources. This trend could be crucial for real estate agents, investors, and developers in assessing the attractiveness and future needs of the local community, particularly... Read more
Student-to-teacher ratio in Taylor County, Kentucky over the last 10 years
Over the past decade, Taylor County, Kentucky has experienced fluctuations in its student-to-teacher ratio, peaking at 17 in 2020 before gradually declining to approximately 15 in 2023. This variation, with several years exceeding the U.S. national average of 14 students per teacher, could potentially impact the quality of education and classroom management. For families considering moving to the area, this trend might suggest periods of larger class sizes and potentially more strain on educational resources. Real estate agents and investors can glean the attractiveness of local schooling conditions from such data, while appraisers and insurance agents might take note of educational infrastructure pressures when assessing properties. For those building or developing in the region, understanding these shifts helps in predicting potential future educational needs and enhancing community appeal.
