40744 Property Tax Rate

Property owners in ZIP code 40744 (London, Kentucky) pay a median of $897/year in property taxes on homes valued at $157,000. This translates to an effective tax rate of 0.57%, which is 24% below the Kentucky state average of 0.75%.

The monthly property tax burden for a median-valued home in 40744 is approximately $75, which factors into escrow payments on mortgages. This ZIP code is located within Laurel County.

Compared to similar ZIP codes in Kentucky, 40744 has higher property taxes. ZIP codes with similar effective rates include 40311 (0.57%) and 40155 (0.57%).

In London, property taxes represent approximately 1.4% of the median household income of $64,643, providing context for the relative tax burden on homeowners in this area.

Kentucky does not cap property tax growth — your Laurel County home will be reassessed to market value when you purchase, and the county PVA will set a new base for future assessments. Laurel County offers homestead exemptions and senior exemptions for qualifying primary residences; file with the Laurel County Property Valuation Administrator within 30 days of closing. Visit the Laurel County PVA office to obtain the homestead exemption application and confirm your county's exemption amount and filing deadline.