40361 Property Tax Rate

Property owners in ZIP code 40361 (Paris, Kentucky) pay a median of $1,597/year in property taxes on homes valued at $216,700. This translates to an effective tax rate of 0.74%, which is near the Kentucky state average of 0.75%.

The monthly property tax burden for a median-valued home in 40361 is approximately $133, which factors into escrow payments on mortgages. This ZIP code is located within Bourbon County. This is $500 more than the Kentucky average of $1,097/year.

Compared to similar ZIP codes in Kentucky, 40361 has higher property taxes. ZIP codes with similar effective rates include 40357 (0.74%) and 42056 (0.74%).

In Paris, property taxes represent approximately 2.8% of the median household income of $57,074, providing context for the relative tax burden on homeowners in this area.

Kentucky does not reassess property at sale; instead, the state conducts periodic revaluations every 4–6 years, with the Bourbon County Property Valuation Administrator handling annual adjustments. Bourbon County offers Senior/Disabled Property Tax Credit programs for owners 65+ or permanently disabled with qualifying income, and may provide municipal Homestead Exemptions — contact the Bourbon County PVA to confirm your eligibility and local options. Request your Notice of Assessment and submit exemption/credit paperwork to the Bourbon County PVA within 60 days of closing to secure available relief.