42462 Property Tax Rate

Property owners in ZIP code 42462 (Waverly, Kentucky) pay a median of $1,122/year in property taxes on homes valued at $143,300. This translates to an effective tax rate of 0.78%, which is 4% above the Kentucky state average of 0.75%.

The monthly property tax burden for a median-valued home in 42462 is approximately $94, which factors into escrow payments on mortgages. This ZIP code is located within Union County.

Compared to similar ZIP codes in Kentucky, 42462 has higher property taxes. ZIP codes with similar effective rates include 42280 (0.78%) and 40223 (0.78%).

In Waverly, property taxes represent approximately 1.8% of the median household income of $63,229, providing context for the relative tax burden on homeowners in this area.

Kentucky has no purchase-price reassessment trigger — your tax bill depends on Union County's reappraisal cycle, typically every 4 years, so you may inherit the prior owner's assessment until the next county-wide update. Union County homeowners 65+, disabled residents, and eligible veterans qualify for exemptions; apply with the Union County Property Valuation Administrator before your first tax bill to secure the benefit. Obtain a copy of your assessment and compare it to recent sales of similar properties in the area.