40050 Property Tax Rate

Property owners in ZIP code 40050 (New Castle, Kentucky) pay a median of $1,225/year in property taxes on homes valued at $132,700. This translates to an effective tax rate of 0.92%, which is 23% above the Kentucky state average of 0.75%.

The monthly property tax burden for a median-valued home in 40050 is approximately $102, which factors into escrow payments on mortgages. This ZIP code is located within Henry County.

Compared to similar ZIP codes in Kentucky, 40050 has lower property taxes. ZIP codes with similar effective rates include 40205 (0.92%) and 40059 (0.92%).

In New Castle, property taxes represent approximately 2.7% of the median household income of $45,528, providing context for the relative tax burden on homeowners in this area.

Kentucky reassesses property at fair market value upon sale with no statewide cap; most counties use the assessment-to-value ratio set by state law. Henry County homeowners should contact the Henry County Property Valuation Administrator to inquire about available senior, disabled, and veteran exemptions. File your exemption application with the Henry County Property Valuation Administrator immediately after purchase to activate tax relief.