41040 Property Tax Rate

Property owners in ZIP code 41040 (Falmouth, Kentucky) pay a median of $1,128/year in property taxes on homes valued at $142,900. This translates to an effective tax rate of 0.79%, which is 5% above the Kentucky state average of 0.75%.

The monthly property tax burden for a median-valued home in 41040 is approximately $94, which factors into escrow payments on mortgages. This ZIP code is located within Pendleton County.

Compared to similar ZIP codes in Kentucky, 41040 has higher property taxes. ZIP codes with similar effective rates include 40019 (0.79%) and 40806 (0.79%).

In Falmouth, property taxes represent approximately 2.2% of the median household income of $51,511, providing context for the relative tax burden on homeowners in this area.

Kentucky has no statewide reassessment cap — your Pendleton County property will be reassessed to market value upon purchase by the county PVA. Pendleton County offers homestead exemptions for primary residences and exemptions for seniors 65+ and disabled homeowners; file with the Pendleton County Property Valuation Administrator within 30 days of closing to reduce your assessed value. Contact the Pendleton County PVA to obtain the homestead exemption application and confirm your county's current exemption amount and filing deadline.