42501 Property Tax Rate

Property owners in ZIP code 42501 (Somerset, Kentucky) pay a median of $911/year in property taxes on homes valued at $131,400. This translates to an effective tax rate of 0.69%, which is 8% below the Kentucky state average of 0.75%.

The monthly property tax burden for a median-valued home in 42501 is approximately $76, which factors into escrow payments on mortgages. This ZIP code is located within Pulaski County.

Compared to similar ZIP codes in Kentucky, 42501 has lower property taxes. ZIP codes with similar effective rates include 42020 (0.69%) and 42728 (0.69%).

In Somerset, property taxes represent approximately 1.8% of the median household income of $49,449, providing context for the relative tax burden on homeowners in this area.

Kentucky assessments follow Pulaski County's reappraisal schedule, not the purchase price — your property will not automatically reassess upward at closing until the next county-wide reappraisal cycle. Pulaski County offers homestead exemptions for owners 65+, disabled persons, and qualifying veterans; file your application with the Pulaski County Property Valuation Administrator within 30 days of closing. Request your assessment worksheet, verify accuracy of all property details, and file a written appeal with supporting comparable sales if needed.