42327 Property Tax Rate

Property owners in ZIP code 42327 (Calhoun, Kentucky) pay a median of $1,062/year in property taxes on homes valued at $169,000. 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 42327 is approximately $89, which factors into escrow payments on mortgages. This ZIP code is located within McLean County.

Compared to similar ZIP codes in Kentucky, 42327 has higher property taxes. ZIP codes with similar effective rates include 42764 (0.63%) and 40060 (0.63%).

In Calhoun, property taxes represent approximately 1.5% of the median household income of $68,611, providing context for the relative tax burden on homeowners in this area.

Kentucky has no purchase-price reassessment requirement — your tax follows McLean County's reappraisal schedule, meaning you may inherit the prior owner's lower assessment until the next county-wide update cycle. McLean County offers homestead exemptions for owners 65+, disabled residents, and eligible veterans; apply with the McLean County Property Valuation Administrator before your first tax bill. Obtain a copy of your assessment and verify the property characteristics (lot size, building square footage, condition) are accurate.