42134 Property Tax Rate

Property owners in ZIP code 42134 (Franklin, Kentucky) pay a median of $1,213/year in property taxes on homes valued at $193,300. This translates to an effective tax rate of 0.63%, which is 17% below the Kentucky state average of 0.75%.

The monthly property tax burden for a median-valued home in 42134 is approximately $101, which factors into escrow payments on mortgages. This ZIP code is located within Simpson County.

Compared to similar ZIP codes in Kentucky, 42134 has higher property taxes. ZIP codes with similar effective rates include 40060 (0.63%) and 42327 (0.63%).

In Franklin, property taxes represent approximately 2.2% of the median household income of $55,347, providing context for the relative tax burden on homeowners in this area.

Kentucky requires reassessment to fair market value when ownership transfers, meaning your assessed value will reflect the current market price, not any prior assessment deferral. Simpson County offers a Homestead Exemption for primary residences that reduces the value subject to school taxation — submit your application to the Simpson County Property Valuation Administrator immediately after purchase. Confirm the exemption in the county's records and review your assessment notice for accuracy before paying your first bill.