42055 Property Tax Rate

Property owners in ZIP code 42055 (Kuttawa, Kentucky) pay a median of $829/year in property taxes on homes valued at $150,000. This translates to an effective tax rate of 0.55%, which is 27% below the Kentucky state average of 0.75%.

The monthly property tax burden for a median-valued home in 42055 is approximately $69, which factors into escrow payments on mortgages. This ZIP code is located within Lyon County. This is $268 less than the Kentucky average of $1,097/year.

Compared to similar ZIP codes in Kentucky, 42055 has lower property taxes. ZIP codes with similar effective rates include 40374 (0.55%) and 42754 (0.55%).

In Kuttawa, property taxes represent approximately 1.2% of the median household income of $67,396, 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.