40245 Property Tax Rate

Property owners in ZIP code 40245 (Louisville, Kentucky) pay a median of $3,795/year in property taxes on homes valued at $432,900. This translates to an effective tax rate of 0.88%, which is 16% above the Kentucky state average of 0.75%.

The monthly property tax burden for a median-valued home in 40245 is approximately $316, which factors into escrow payments on mortgages. This ZIP code is located within Jefferson County. This is $2,698 more than the Kentucky average of $1,097/year.

Compared to similar ZIP codes in Kentucky, 40245 has lower property taxes. ZIP codes with similar effective rates include 41044 (0.88%) and 40065 (0.88%).

In Louisville, property taxes represent approximately 3.2% of the median household income of $120,171, 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. Jefferson County homeowners should contact the Jefferson County Property Valuation Administrator to learn about senior, disabled, and veteran exemptions available in Louisville and surrounding areas. Submit your exemption application to the Jefferson County Property Valuation Administrator within 30 days of closing to qualify for the current tax year.