42431 Property Tax Rate

Property owners in ZIP code 42431 (Madisonville, Kentucky) pay a median of $1,182/year in property taxes on homes valued at $151,800. This translates to an effective tax rate of 0.78%, which is 3% above the Kentucky state average of 0.75%.

The monthly property tax burden for a median-valued home in 42431 is approximately $99, which factors into escrow payments on mortgages. This ZIP code is located within Hopkins County.

Compared to similar ZIP codes in Kentucky, 42431 has lower property taxes. ZIP codes with similar effective rates include 42715 (0.78%) and 40033 (0.78%).

In Madisonville, property taxes represent approximately 2.1% of the median household income of $57,529, providing context for the relative tax burden on homeowners in this area.

Kentucky assessments follow the county's reappraisal cycle (typically every 4 years), not sale price — you may benefit from a lower assessment inherited from the prior owner until Hopkins County's next update. Hopkins County provides exemptions for seniors 65+, disabled homeowners, and eligible veterans; submit your claim to the Hopkins County Property Valuation Administrator before the deadline shown on your assessment notice. Review your assessment for accuracy and file an appeal by the county's published deadline if the value is unsupported by comparable sales.