Louisville, Kentucky Property Taxes
The median property tax rate in Louisville, KY is 1.17%, notably higher than both the national median of 0.99% and Kentucky's state median of 1.02%. With a median home value of $180,300 in Louisville, the typical annual property tax bill reaches $2,055, which is below the national median of $2,690. Property taxes in Louisville are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Louisville's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Louisville or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Louisville, Kentucky Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.02%
Estimate Property Tax Bill
$2,040
Ownwell’s Louisville Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Louisville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Louisville to provide an estimate of your property tax bill. This valuable tool offers a clear understanding of potential tax liabilities. For those interested in neighborhood-level trends, additional localized information is available below. Your property’s assessed value is determined by Jefferson County for property tax calculations, considering any applicable exemptions.
Property Tax Rates Across Louisville, Kentucky
Property taxes in Louisville, Kentucky, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Louisville is 1.17%, higher than both the Kentucky state median and the U.S. national median of 0.99%. Local government entities within Louisville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Louisville estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Louisville's effective property tax rate to other areas in Kentucky and the national median. For comparison, the 40202 zip code has the highest median property tax rate of 1.34%, while the 40216 zip code has the lowest median tax rate of 1.03%. Understanding how these areas compare with Louisville provides valuable insights into the varying tax landscape across Jefferson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Louisville Tax Rate
1.17%
Average Jefferson County Tax Rate
1.17%
Average Kentucky Tax Rate
1.02%
Average United States Tax Rate
0.99%
Property Tax Rates Across Louisville, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 40202 | 1.34% | 1.34% | 1.34% | 1.43% | 1.43% |
| 40203 | 1.14% | 1.34% | 1.34% | 1.34% | 1.34% |
| 40204 | 1.10% | 1.34% | 1.34% | 1.34% | 1.34% |
| 40205 | 1.00% | 1.11% | 1.34% | 1.34% | 1.34% |
| 40206 | 1.05% | 1.34% | 1.34% | 1.34% | 1.34% |
| 40207 | 0.94% | 1.06% | 1.15% | 1.15% | 1.16% |
| 40208 | 1.00% | 1.34% | 1.34% | 1.34% | 1.34% |
| 40209 | 1.34% | 1.34% | 1.34% | 1.34% | 1.34% |
| 40210 | 0.56% | 1.34% | 1.34% | 1.34% | 1.34% |
| 40211 | 0.59% | 1.34% | 1.34% | 1.34% | 1.34% |
| 40212 | 0.53% | 1.34% | 1.34% | 1.34% | 1.34% |
| 40213 | 0.78% | 1.15% | 1.18% | 1.34% | 1.34% |
| 40214 | 0.81% | 1.10% | 1.20% | 1.34% | 1.34% |
| 40215 | 0.71% | 1.34% | 1.34% | 1.34% | 1.34% |
| 40216 | 0.74% | 0.99% | 1.03% | 1.20% | 1.20% |
| 40217 | 0.94% | 1.34% | 1.34% | 1.34% | 1.34% |
| 40218 | 0.79% | 1.17% | 1.18% | 1.34% | 1.34% |
| 40219 | 0.80% | 0.93% | 1.17% | 1.17% | 1.18% |
| 40220 | 0.91% | 0.99% | 1.17% | 1.34% | 1.34% |
| 40222 | 0.94% | 1.03% | 1.15% | 1.15% | 1.16% |
| 40223 | 0.82% | 0.97% | 1.15% | 1.16% | 1.16% |
| 40228 | 0.85% | 0.99% | 1.18% | 1.18% | 1.18% |
| 40229 | 0.83% | 1.17% | 1.17% | 1.17% | 1.18% |
| 40241 | 0.96% | 1.02% | 1.16% | 1.16% | 1.16% |
| 40242 | 0.89% | 0.98% | 1.15% | 1.15% | 1.15% |
| 40243 | 0.92% | 0.98% | 1.16% | 1.16% | 1.16% |
| 40245 | 1.00% | 1.16% | 1.16% | 1.16% | 1.16% |
| 40258 | 0.85% | 0.99% | 1.20% | 1.20% | 1.20% |
| 40272 | 0.78% | 0.97% | 1.20% | 1.20% | 1.20% |
| 40291 | 0.88% | 1.01% | 1.18% | 1.18% | 1.18% |
| 40299 | 0.88% | 1.01% | 1.17% | 1.17% | 1.17% |
Source: Ownwell
Property Tax Assessment Values Across Louisville, Kentucky
In Louisville, Kentucky, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Jefferson County Property Valuation Administrator for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In Louisville, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these valuation processes in Louisville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 40245, with a median bill of $4,142, while the lowest is 40210, with a median bill of $705.
Average Louisville Assessed Value
$180,300
Average Jefferson County Assessed Value
$181,690
Average Kentucky Assessed Value
$110,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Louisville, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 40202 | $147,390 | $203,840 | $274,320 | $390,000 | $629,440 |
| 40203 | $33,963 | $54,790 | $93,225 | $150,000 | $228,888 |
| 40204 | $112,408 | $146,975 | $200,120 | $321,070 | $512,780 |
| 40205 | $152,500 | $215,055 | $276,910 | $358,730 | $480,430 |
| 40206 | $88,000 | $136,330 | $209,910 | $305,000 | $447,730 |
| 40207 | $180,496 | $237,130 | $297,790 | $410,050 | $611,488 |
| 40208 | $52,019 | $64,992 | $89,805 | $144,035 | $278,360 |
| 40209 | $39,000 | $47,890 | $59,900 | $82,526 | $113,000 |
| 40210 | $31,110 | $42,855 | $58,485 | $82,615 | $114,982 |
| 40211 | $40,000 | $51,210 | $69,680 | $95,620 | $134,190 |
| 40212 | $34,084 | $45,240 | $61,840 | $82,000 | $108,286 |
| 40213 | $80,000 | $102,830 | $134,790 | $181,295 | $255,708 |
| 40214 | $80,290 | $107,000 | $142,610 | $184,530 | $251,935 |
| 40215 | $56,874 | $68,420 | $85,280 | $108,530 | $133,414 |
| 40216 | $90,811 | $119,890 | $148,460 | $174,035 | $200,000 |
| 40217 | $107,550 | $131,210 | $161,615 | $195,952 | $230,000 |
| 40218 | $69,000 | $94,480 | $140,200 | $182,505 | $224,090 |
| 40219 | $105,238 | $127,425 | $153,435 | $179,138 | $210,000 |
| 40220 | $134,582 | $168,350 | $202,500 | $239,900 | $280,000 |
| 40222 | $171,940 | $230,410 | $295,020 | $402,855 | $585,000 |
| 40223 | $161,826 | $198,570 | $288,260 | $381,690 | $505,672 |
| 40228 | $133,442 | $158,460 | $185,390 | $227,495 | $275,000 |
| 40229 | $121,160 | $139,995 | $171,180 | $227,622 | $278,765 |
| 40241 | $195,000 | $256,270 | $317,050 | $412,328 | $536,600 |
| 40242 | $153,694 | $188,198 | $235,450 | $305,012 | $361,250 |
| 40243 | $165,000 | $204,890 | $253,570 | $300,620 | $342,192 |
| 40245 | $204,914 | $281,588 | $370,095 | $464,925 | $588,199 |
| 40258 | $113,810 | $142,885 | $169,030 | $195,000 | $229,000 |
| 40272 | $80,199 | $112,238 | $140,140 | $179,900 | $238,965 |
| 40291 | $136,595 | $165,178 | $208,150 | $284,082 | $362,510 |
| 40299 | $140,000 | $180,165 | $232,500 | $313,858 | $400,000 |
Source: Ownwell
Property Tax Bills Across Louisville, Kentucky
In Louisville, Jefferson County, property tax bills are calculated based on the assessed value of the property, which is determined by local assessors. The median home price in Louisville stands at $180,300, and the property tax rate is applied to this assessed value to compute the tax bill. Factors such as the property's location, size, and any improvements made can influence its assessed value. Homeowners in Louisville can expect tax bills to vary significantly. For instance, the 25th percentile tax bill is $1,368, while the 75th percentile reaches $3,042, and the 90th percentile can go as high as $4,362. The highest median tax bill in the area is $4,142, found in the 40245 zip code, whereas the lowest median tax bill is $705 in the 40210 zip code. These variations highlight how the assessed value and specific location within Louisville impact the final tax bill, affecting homeowners differently across the city.
Average Louisville Tax Bill
$2,055
Average Jefferson County Tax Bill
$2,069
Average Kentucky Tax Bill
$1,031
Average United States Tax Bill
$2,690
Property Tax Bills Across Louisville, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 40202 | $2,205 | $2,850 | $3,876 | $5,356 | $8,970 |
| 40203 | $420 | $671 | $1,222 | $2,013 | $3,070 |
| 40204 | $1,384 | $1,882 | $2,637 | $4,225 | $6,694 |
| 40205 | $1,845 | $2,565 | $3,341 | $4,469 | $6,200 |
| 40206 | $1,074 | $1,719 | $2,677 | $3,954 | $5,838 |
| 40207 | $1,870 | $2,555 | $3,328 | $4,707 | $7,047 |
| 40208 | $577 | $810 | $1,160 | $1,906 | $3,686 |
| 40209 | $478 | $584 | $789 | $1,095 | $1,520 |
| 40210 | $304 | $479 | $705 | $1,003 | $1,399 |
| 40211 | $372 | $589 | $837 | $1,179 | $1,688 |
| 40212 | $321 | $500 | $744 | $1,020 | $1,379 |
| 40213 | $798 | $1,147 | $1,587 | $2,233 | $3,066 |
| 40214 | $863 | $1,208 | $1,637 | $2,183 | $2,901 |
| 40215 | $564 | $824 | $1,065 | $1,396 | $1,745 |
| 40216 | $818 | $1,150 | $1,533 | $1,931 | $2,299 |
| 40217 | $1,257 | $1,600 | $2,013 | $2,518 | $3,020 |
| 40218 | $660 | $1,016 | $1,569 | $2,175 | $2,684 |
| 40219 | $962 | $1,312 | $1,638 | $2,000 | $2,384 |
| 40220 | $1,403 | $1,901 | $2,352 | $2,801 | $3,276 |
| 40222 | $1,842 | $2,439 | $3,214 | $4,474 | $6,561 |
| 40223 | $1,627 | $2,069 | $2,947 | $3,908 | $4,858 |
| 40228 | $1,322 | $1,672 | $2,069 | $2,592 | $3,145 |
| 40229 | $1,183 | $1,514 | $1,913 | $2,579 | $3,215 |
| 40241 | $2,084 | $2,723 | $3,497 | $4,620 | $6,057 |
| 40242 | $1,592 | $1,975 | $2,554 | $3,341 | $3,972 |
| 40243 | $1,596 | $2,169 | $2,739 | $3,335 | $3,870 |
| 40245 | $2,252 | $3,105 | $4,142 | $5,263 | $6,713 |
| 40258 | $1,129 | $1,512 | $1,887 | $2,261 | $2,667 |
| 40272 | $716 | $1,146 | $1,557 | $2,031 | $2,708 |
| 40291 | $1,348 | $1,782 | $2,297 | $3,186 | $4,147 |
| 40299 | $1,473 | $1,896 | $2,561 | $3,475 | $4,519 |
Source: Ownwell