40351 Property Tax Rate

Property owners in ZIP code 40351 (Morehead, Kentucky) pay a median of $919/year in property taxes on homes valued at $163,000. This translates to an effective tax rate of 0.56%, which is 25% below the Kentucky state average of 0.75%.

The monthly property tax burden for a median-valued home in 40351 is approximately $77, which factors into escrow payments on mortgages. This ZIP code is located within Rowan County.

Compared to similar ZIP codes in Kentucky, 40351 has lower property taxes. ZIP codes with similar effective rates include 42211 (0.56%) and 42064 (0.56%).

In Morehead, property taxes represent approximately 1.8% of the median household income of $51,110, providing context for the relative tax burden on homeowners in this area.

Kentucky uses a centralized property valuation system with periodic statewide revaluations (every 4–6 years) rather than reassessment at sale; the Rowan County Property Valuation Administrator handles annual value adjustments. Rowan County residents aged 65+ or permanently disabled may qualify for the State Senior/Disabled Property Tax Credit if income falls below state thresholds, and some municipalities offer additional Homestead Exemptions — contact the Rowan County PVA for your specific eligibility. File your credit claim with the Rowan County PVA within 60 days of receiving your Notice of Assessment to ensure timely approval.