40461 Property Tax Rate

Property owners in ZIP code 40461 (Paint Lick, Kentucky) pay a median of $1,464/year in property taxes on homes valued at $190,700. 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 40461 is approximately $122, which factors into escrow payments on mortgages. This ZIP code is located within Garrard County. This is $367 more than the Kentucky average of $1,097/year.

Compared to similar ZIP codes in Kentucky, 40461 has lower property taxes. ZIP codes with similar effective rates include 40475 (0.77%) and 40965 (0.77%).

In Paint Lick, property taxes represent approximately 2.1% of the median household income of $70,234, providing context for the relative tax burden on homeowners in this area.

Kentucky does not cap property tax increases at sale — your Garrard County home will be reassessed to fair market value by the county PVA, potentially increasing your tax obligation significantly. Garrard County offers homestead exemptions for owner-occupied primary residences and additional relief for seniors and disabled persons; file with the Garrard County PVA within 30 days of purchase. Contact the Garrard County Property Valuation Administrator to request the homestead exemption form and verify your county's current exemption amount.