42633 Property Tax Rate

Property owners in ZIP code 42633 (Monticello, Kentucky) pay a median of $721/year in property taxes on homes valued at $124,200. This translates to an effective tax rate of 0.58%, which is 23% below the Kentucky state average of 0.75%.

The monthly property tax burden for a median-valued home in 42633 is approximately $60, which factors into escrow payments on mortgages. This ZIP code is located within Wayne County. This is $376 less than the Kentucky average of $1,097/year.

Compared to similar ZIP codes in Kentucky, 42633 has higher property taxes. ZIP codes with similar effective rates include 42782 (0.58%) and 40447 (0.58%).

In Monticello, property taxes represent approximately 1.7% of the median household income of $42,500, providing context for the relative tax burden on homeowners in this area.

Kentucky property taxes are based on Wayne County's reappraisal cycle (typically every 4 years), not the sale price — you may keep the prior owner's assessment until the next county-wide update. Wayne County seniors 65+, disabled homeowners, and eligible veterans can claim homestead exemptions; submit your claim to the Wayne County Property Valuation Administrator before the deadline on your assessment notice. Review your assessment record for accuracy and file a formal appeal by the county's published deadline if the valuation exceeds comparable properties.