40601 Property Tax Rate

Property owners in ZIP code 40601 (Frankfort, Kentucky) pay a median of $1,672/year in property taxes on homes valued at $199,900. This translates to an effective tax rate of 0.84%, which is 11% above the Kentucky state average of 0.75%.

The monthly property tax burden for a median-valued home in 40601 is approximately $139, which factors into escrow payments on mortgages. This ZIP code is located within Franklin County. This is $575 more than the Kentucky average of $1,097/year.

Compared to similar ZIP codes in Kentucky, 40601 has lower property taxes. ZIP codes with similar effective rates include 40927 (0.84%) and 40517 (0.84%).

In Frankfort, property taxes represent approximately 2.5% of the median household income of $67,125, providing context for the relative tax burden on homeowners in this area.

Kentucky has no annual increase cap for homeowners — your Franklin County property will be reassessed to market value upon sale, and future assessments are not capped by statute. Franklin County provides homestead exemptions for primary residences and senior/disabled exemptions; file your homestead application with the Franklin County Property Valuation Administrator within 30 days of closing to reduce your assessed value. Contact the Franklin County PVA to request the current exemption amount and confirm the filing deadline for your tax year.