42038 Property Tax Rate

Property owners in ZIP code 42038 (Eddyville, Kentucky) pay a median of $1,239/year in property taxes on homes valued at $195,700. This translates to an effective tax rate of 0.63%, which is 16% below the Kentucky state average of 0.75%.

The monthly property tax burden for a median-valued home in 42038 is approximately $103, which factors into escrow payments on mortgages. This ZIP code is located within Lyon County.

Compared to similar ZIP codes in Kentucky, 42038 has higher property taxes. ZIP codes with similar effective rates include 42458 (0.63%) and 40076 (0.63%).

In Eddyville, property taxes represent approximately 1.9% of the median household income of $64,254, providing context for the relative tax burden on homeowners in this area.

Kentucky reassesses all property to fair market value upon sale; your assessed value will not be tied to the previous owner's tax history. Lyon County provides a Homestead Exemption for owner-occupied homes that exempts a portion of assessed value from school taxation — submit your application to the Lyon County Property Valuation Administrator before the end of your purchase year. Request an updated assessment certificate confirming the exemption reduction.