Irvine, Lee County, Kentucky Property Taxes

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

Median IRVINE, KY effective property tax rate: 1.30%, significantly higher than the national median of 1.02%, but lower than the Kentucky state median of 1.02%.
Median IRVINE, KY home value: $4,500
Median annual IRVINE, KY tax bill: $52, $2,348 lower than the national median property tax bill of $2,400.

How are property taxes in Lee calculated?

Property taxes in IRVINE, KY 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 IRVINE’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in IRVINE, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

Irvine, Lee County, Kentucky Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

1.3%

Estimate Property Tax Bill

$59

$54

Ownwell’s Irvine Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Irvine with just two data points. By entering your property's estimated assessed value, our calculator applies Irvine’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 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 Lee County. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Irvine, Lee County, Kentucky

Local government entities set tax rates, which can vary widely within a state. Why? Because annually, each county estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate. While there are votes and laws involved in setting tax rates and budgets, in a nutshell, this is the annual process. Below, you can compare Irvine’s effective property tax rate to other cities in Kentucky and the median property tax rates in Kentucky and the U.S.

Property Tax Rates Across Irvine, Lee County, Kentucky

Source: Ownwell

1.30%

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 Irvine Tax Rate

1.30%

Median Effective Lee County Tax Rate

1.30%

Median Effective Kentucky Tax Rate

1.02%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Irvine, Lee County, Kentucky

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
40336	1.28%	1.30%	1.30%	1.30%	1.30%

Source: Ownwell

Property Tax Assessment Values Across Irvine, Lee County, Kentucky

When examining property taxes in Irvine, Kentucky, 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 Lee County appraisal district 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.

In Lee 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 Irvine.

For example, the median home price in Irvine is $4,500, with tax bills ranging significantly across the county. Zip code 40336 has the highest median home price at $4,500.

Property Tax Assessment Values Across Irvine, Lee County, Kentucky

Source: Ownwell

$4,500

$5,250

$6,000

Median Irvine Market Value

$4,500

Median Lee County Market Value

$5,000

Median Kentucky Market Value

$110,000

Median United States Market Value

$235,294

Property Tax Assessment Values Across Irvine, Lee County, Kentucky

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
40336	$1,500	$2,875	$4,500	$14,400	$36,450

Source: Ownwell

Property Tax Bills Across Irvine, Lee County, Kentucky

Property tax bills in Irvine, located in Lee County, Kentucky, are determined by assessing the value of a property and applying the local tax rate to this assessed value. The assessed value, which is typically a percentage of the market value, plays a crucial role in calculating the tax bill. In Irvine, the median home price stands at $4,500, significantly lower than the national median, which influences the overall tax burden on homeowners. With the national median property tax bill at $2,400, Irvine's tax bills vary widely, from as low as $26 at the 25th percentile to $253 at the 90th percentile. This variation highlights the potential savings available through property tax appeals. Ownwell can assist homeowners by identifying discrepancies in property assessments and ensuring that they are not overpaying on their tax bills. By leveraging expertise in property tax appeals and exemptions, Ownwell helps homeowners navigate the complexities of property taxation, ultimately leading to significant savings and financial relief.

Property Tax Bills Across Irvine, Lee County, Kentucky

Source: Ownwell

$52

$70

$88

Median Irvine Tax Bill

$52

Median Lee County Tax Bill

$65

Median Kentucky Tax Bill

$1,031

Median United States Tax Bill

$2,400

Property Tax Bills Across Irvine, Lee County, Kentucky

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
40336	$13	$26	$52	$151	$253

Source: Ownwell