40312 Property Tax Rate

Property owners in ZIP code 40312 (Clay City, Kentucky) pay a median of $691/year in property taxes on homes valued at $148,300. This translates to an effective tax rate of 0.47%, which is 38% below the Kentucky state average of 0.75%.

The monthly property tax burden for a median-valued home in 40312 is approximately $58, which factors into escrow payments on mortgages. This ZIP code is located within Powell County. This is $406 less than the Kentucky average of $1,097/year.

Compared to similar ZIP codes in Kentucky, 40312 has higher property taxes. ZIP codes with similar effective rates include 42519 (0.47%) and 41263 (0.47%).

In Clay City, property taxes represent approximately 1.8% of the median household income of $38,081, providing context for the relative tax burden on homeowners in this area.

Kentucky conducts periodic statewide property valuations (every 4–6 years) without reassessment triggered by sale; the Powell County Property Valuation Administrator adjusts assessments annually based on state guidelines. Powell County provides Senior/Disabled Property Tax Credit relief for owners 65+ or permanently disabled with income limits, and may offer municipal-level Homestead Exemptions — call the Powell County PVA to confirm programs available in your jurisdiction. Request your Notice of Assessment promptly after purchase and submit exemption applications to the Powell County PVA within 60 days to secure available credits.