41231 Property Tax Rate
Lovely, Kentucky · Part of Martin County
Effective Tax Rate
0.85%
0.3% above state avgMedian Annual Tax
$1,100
$92/mo escrow
Estimate Your Tax
Annual Tax
$1,100
Monthly
$92
Eff. Rate
0.85%
How ZIP 41231 Compares
Median Annual Property Tax
ZIP 41231
0.85%
Effective rate
Kentucky Avg
0.75%
Effective rate
National Avg
1.10%
Effective rate
State Ranking
Property Tax Rank in Kentucky
Higher than 72% of ZIP codes in Kentucky(72th percentile, 621 ZIPs compared)
Property Tax Analysis
Property Tax Insights for ZIP 41231
Property owners in ZIP code 41231 (Lovely, Kentucky) pay a median of $1,100/year in property taxes on homes valued at $129,700. This translates to an effective tax rate of 0.85%, which is 13% above the Kentucky state average of 0.75%.
The monthly property tax burden for a median-valued home in 41231 is approximately $92, which factors into escrow payments on mortgages. This ZIP code is located within Martin County.
Compared to similar ZIP codes in Kentucky, 41231 has lower property taxes. ZIP codes with similar effective rates include 42054 (0.85%) and 42406 (0.85%).
Kentucky reassesses property at fair market value upon sale with no statewide cap on increases — Martin County's Property Valuation Administrator will issue a new assessment after closing. Martin County offers a Senior Citizen Real Property Tax Exemption (age 65+) and a Homestead Exemption for owner-occupied primary residences; file your application with the Martin County PVA within 30 days of purchase. Request your assessment notice from the Martin County PVA immediately and verify the fair market value against comparable sales in the area.
Frequently Asked Questions
What is the property tax rate in ZIP code 41231?
How much are property taxes in Lovely, KY (41231)?
How does ZIP 41231 compare to the Kentucky average?
What is the median home value in ZIP 41231?
What county is ZIP code 41231 in?
Margin of Error
The median property tax estimate for this ZIP code has a margin of error of ±$329. ZCTA-level data has wider margins than county-level estimates due to smaller sample sizes.
County-Level Data
ZIP code 41231 is part of Martin County, Kentucky. View the full county profile for broader context and more data.
View Martin County on TaxByCounty →Similar ZIP Codes in Kentucky
42054
+0.00%Kirksey
0.85%
$1,308/yr
42406
-0.00%Corydon
0.85%
$1,471/yr
41175
+0.00%South Shore
0.85%
$941/yr
40241
+0.00%Louisville
0.85%
$2,972/yr
41773
-0.00%Vicco
0.85%
$382/yr
41144
-0.00%Greenup
0.84%
$1,098/yr
41063
+0.00%Morning View
0.85%
$1,904/yr
40977
-0.00%Pineville
0.84%
$706/yr
40514
+0.00%Lexington
0.85%
$2,472/yr
42123
-0.01%Austin
0.84%
$971/yr
Data from U.S. Census Bureau, American Community Survey 2019-2023 5-Year Estimates (ZCTA level). ZIP Code Tabulation Areas (ZCTAs) are Census approximations of USPS ZIP codes.
Estimates are informational only and should not be used as financial or legal advice.