42753 Property Tax Rate

Property owners in ZIP code 42753 (Knifley, Kentucky) pay a median of $725/year in property taxes on homes valued at $112,100. This translates to an effective tax rate of 0.65%, which is 14% below the Kentucky state average of 0.75%.

The monthly property tax burden for a median-valued home in 42753 is approximately $60, which factors into escrow payments on mortgages. This ZIP code is located within Adair County. This is $372 less than the Kentucky average of $1,097/year.

Compared to similar ZIP codes in Kentucky, 42753 has lower property taxes. ZIP codes with similar effective rates include 40119 (0.65%) and 42337 (0.65%).

In Knifley, property taxes represent approximately 1.4% of the median household income of $51,806, providing context for the relative tax burden on homeowners in this area.

Kentucky reassesses property at fair market value when transferred, and the Adair County PVA will issue a new assessment based on your purchase price. Homeowners age 65 or older and disabled persons can file for the Homestead Exemption, which shields $33,300 of assessed value from county and school taxes — submit your application to the Adair County Property Valuation Administrator immediately after closing. This exemption typically saves qualified homeowners $400–$600 annually.