Bourbon County, Kentucky Property Taxes

Name: Property Tax Bills Across Bourbon County, Kentucky
Creator: Ownwell
License: https://creativecommons.org/licenses/by-nc/4.0/

Median Bourbon County effective property tax rate: 0.57%, significantly lower than the national median of 1.02%.
Median Bourbon County home value: $151,200
Median annual Bourbon County tax bill: $936, $1,464 lower than the national median property tax bill of $2,400.

How are property taxes in Bourbon County calculated?

Property taxes in Bourbon County are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.

Understanding your county's property tax system, exemptions, and reduction opportunities can lead to significant savings. Whether you live in Paris or another part of Bourbon County, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

Bourbon County, Kentucky Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

0.57%

Estimate Property Tax Bill

$862

$800

Ownwell’s Bourbon County Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Bourbon County with just two data points. By entering your property's estimated assessed value, our calculator applies Bourbon County’s median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value — determined by your county — reflects any exemptions you may have, ensuring a more precise calculation for your property tax obligations. This insightful tool helps you understand potential tax liabilities and highlights how Ownwell can assist in reducing property taxes in Bourbon County. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Bourbon County, Kentucky

Local government entities are responsible for setting property tax rates, which can vary significantly within Kentucky. Each year, Bourbon County calculates its required budget to fund services and divides this by the total value of all taxable property within its jurisdiction, resulting in the property tax rate. Although the process involves votes and laws, this is the annual procedure in a nutshell.

Bourbon County's effective property tax rate stands at 0.57%, which is notably lower than the national median property tax rate of 1.02%. This means that homeowners in Bourbon County generally pay less in property taxes compared to the average American homeowner. Within the county, Millersburg has the highest median tax rate at 0.88%, while Sharpsburg boasts the lowest at 0.45%. These variations highlight the differences that can occur even within a single county. By understanding these local tax rates, property owners in Bourbon County can make informed decisions and potentially find opportunities for tax savings.

Property Tax Rates Across Bourbon County, Kentucky

Source: Ownwell

0.45%

0.66%

0.88%

Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.

Median Effective Bourbon County Tax Rate

0.57%

Median Effective Kentucky Tax Rate

1.02%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Bourbon County, Kentucky

City	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
Carlisle	0.22%	0.38%	0.67%	0.88%	0.88%
Cynthiana	0.29%	0.39%	0.54%	0.73%	0.88%
Georgetown	0.33%	0.47%	0.80%	0.88%	0.88%
Lexington	0.41%	0.58%	0.78%	0.88%	0.88%
Millersburg	0.36%	0.87%	0.88%	0.88%	0.88%
North Middletown	0.40%	0.88%	0.88%	0.88%	0.88%
Paris	0.27%	0.35%	0.54%	0.88%	0.88%
Sharpsburg	0.28%	0.33%	0.45%	0.71%	0.86%
Mount Sterling	N/A	N/A	N/A	N/A	N/A

Source: Ownwell

Property Tax Assessment Values Across Bourbon County, Kentucky

When examining property taxes in Bourbon County, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Bourbon County Property Valuation Administrator estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.

Assessment notices:

In Bourbon County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of April. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Bourbon County.

For example, the median tax bill in Bourbon County is $1,544, with tax bills ranging significantly across the county. Cynthiana has the highest median home price at $289,900.

Property Tax Assessment Values Across Bourbon County, Kentucky

Source: Ownwell

$13,000

$260,800

$508,600

Median Bourbon County Market Value

$151,200

Median Kentucky Market Value

$110,000

Median United States Market Value

$235,294

Property Tax Assessment Values Across Bourbon County, Kentucky

City	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
Carlisle	$33,040	$50,500	$115,300	$238,300	$408,440
Cynthiana	$95,000	$146,025	$289,900	$456,925	$667,798
Georgetown	$40,100	$67,500	$115,000	$335,000	$652,720
Lexington	$4,700	$9,900	$245,500	$522,300	$999,230
Millersburg	$8,400	$34,600	$61,000	$93,750	$130,000
North Middletown	$22,600	$35,200	$67,800	$87,000	$114,640
Paris	$66,255	$100,000	$155,800	$251,150	$509,870
Sharpsburg	$91,810	$100,150	$185,100	$412,650	$738,270
Mount Sterling	N/A	N/A	N/A	N/A	N/A

Source: Ownwell

Property Tax Bills Across Bourbon County, Kentucky

In Bourbon County, KY, property tax bills are determined by assessing the value of a home and applying the local tax rate. The median home price in the county is $151,200, which plays a significant role in calculating the tax bill. Homeowners can expect tax bills to vary significantly, with the 25th percentile at $386 and the 75th percentile reaching $1,680. Those at the 90th percentile face tax bills as high as $3,013. This variation is influenced by factors such as property location, home improvements, and changes in market value. For instance, Lexington has the highest median tax bill in the region at $1,544, while North Middletown sees the lowest at $464. Compared to the national median property tax bill of $2,400, Bourbon County generally has lower tax obligations, which can be a relief for homeowners. Understanding these factors helps homeowners anticipate their financial responsibilities and manage their budgets effectively.

Property Tax Bills Across Bourbon County, Kentucky

Source: Ownwell

$175

$1,747

$3,319

Median Bourbon County Tax Bill

$936

Median Kentucky Tax Bill

$1,031

Median United States Tax Bill

$2,400

Property Tax Bills Across Bourbon County, Kentucky

City	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
Carlisle	$113	$313	$774	$1,271	$2,080
Cynthiana	$515	$854	$1,464	$2,154	$3,665
Georgetown	$211	$537	$822	$1,791	$3,648
Lexington	$40	$87	$1,544	$3,423	$5,999
Millersburg	$88	$265	$518	$743	$1,136
North Middletown	$194	$248	$464	$700	$1,003
Paris	$228	$395	$962	$1,687	$2,990
Sharpsburg	$451	$799	$870	$2,782	$5,392
Mount Sterling	N/A	N/A	N/A	N/A	N/A

Source: Ownwell