40372 Property Tax Rate

Property owners in ZIP code 40372 (Salvisa, Kentucky) pay a median of $1,816/year in property taxes on homes valued at $234,400. This translates to an effective tax rate of 0.77%, which is near the Kentucky state average of 0.75%.

The monthly property tax burden for a median-valued home in 40372 is approximately $151, which factors into escrow payments on mortgages. This ZIP code is located within Mercer County. This is $719 more than the Kentucky average of $1,097/year.

Compared to similar ZIP codes in Kentucky, 40372 has higher property taxes. ZIP codes with similar effective rates include 40737 (0.77%) and 40358 (0.77%).

In Salvisa, property taxes represent approximately 2.1% of the median household income of $86,667, providing context for the relative tax burden on homeowners in this area.

Kentucky uses a state property valuation system without reassessment at sale; properties are revalued on a statewide cycle and assessed annually by the county's Property Valuation Administrator. Mercer County residents may qualify for the Senior/Disabled Property Tax Credit (65+ or permanently disabled with income limits) or a Homestead Exemption depending on municipal ordinances — contact the Mercer County PVA directly for program specifics and income thresholds. Request a Notice of Assessment from the Mercer County PVA and file any exemption application within 60 days of receiving notice to ensure timely processing.