42003 Property Tax Rate

Property owners in ZIP code 42003 (Paducah, Kentucky) pay a median of $1,180/year in property taxes on homes valued at $160,700. This translates to an effective tax rate of 0.73%, which is near the Kentucky state average of 0.75%.

The monthly property tax burden for a median-valued home in 42003 is approximately $98, which factors into escrow payments on mortgages. This ZIP code is located within McCracken County.

Compared to similar ZIP codes in Kentucky, 42003 has higher property taxes. ZIP codes with similar effective rates include 40391 (0.73%) and 40142 (0.73%).

In Paducah, property taxes represent approximately 2.2% of the median household income of $54,052, providing context for the relative tax burden on homeowners in this area.

Kentucky law mandates full reassessment to fair market value upon property transfer; expect your assessed value to reflect the purchase price on your first bill. McCracken County offers a Homestead Exemption for primary residences that exempts a portion of value from school taxes — submit your application to the McCracken County Property Valuation Administrator before the end of the tax year in which you purchased. Review the county's assessment notice carefully and file a formal appeal if the assessed value exceeds the purchase price.