Stanford, Lincoln County, Kentucky Property Taxes
Median Stanford, KY effective property tax rate: 1.04%, slightly higher than the national median of 1.02%, but lower than the Kentucky state median of 1.02%.
Median Stanford, KY home value: $85,000
Median annual Stanford, KY tax bill: $720, $1,680 lower than the national median property tax bill of $2,400.
How are property taxes in Lincoln calculated?
Property taxes in Stanford, 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 Stanford’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Stanford, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Stanford, Lincoln County, Kentucky Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
1.04%
Estimate Property Tax Bill
$884
$820
Property Tax Rates Across Stanford, Lincoln County, Kentucky
Local government entities set tax rates, which can vary widely within a state. This is 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 Stanford’s effective property tax rate to other cities in Kentucky and the median property tax rates in Kentucky and the U.S.
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 Stanford Tax Rate
1.04%
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 Lincoln County Tax Rate
1.04%
Median Effective Kentucky Tax Rate
1.02%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Stanford, Lincoln County, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 40484 | 0.55% | 0.87% | 1.04% | 1.04% | 1.04% |
Source: Ownwell
Property Tax Assessment Values Across Stanford, Lincoln County, Kentucky
When examining property taxes in Stanford, 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 Lincoln 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 Lincoln County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of May. 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 Stanford.
For example, the median home price in Stanford is $85,000, with tax bills ranging significantly across the county. Zip code 40484 has the highest median home price at $85,000.
Property Tax Assessment Values Across Stanford, Lincoln County, Kentucky
Source: Ownwell
$12,000
$53,375
$94,750
Median Stanford Market Value
$85,000
Median Lincoln County Market Value
$67,000
Median Kentucky Market Value
$110,000
Median United States Market Value
$235,294
Property Tax Assessment Values Across Stanford, Lincoln County, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 40484 | $6,500 | $23,300 | $85,000 | $139,275 | $195,730 |
Source: Ownwell
Property Tax Bills Across Stanford, Lincoln County, Kentucky
In Stanford, located in Lincoln County, KY, property tax bills are determined by multiplying the assessed value of a home by the local tax rate. The median home price here is $85,000, and the tax bill can vary significantly across different percentiles. For instance, at the 25th percentile, the tax bill is approximately $202, while at the 75th percentile, it reaches around $1,301. The 90th percentile sees a tax bill of about $1,867. Despite these variations, the median property tax bill in the area is $720, which is significantly below the national median of $2,400.
Homeowners can find these tax bills impactful, as they directly affect annual expenses. Ownwell offers a solution by providing property tax appeal services, potentially lowering these bills. By leveraging local expertise and a deep understanding of property tax regulations, Ownwell can help homeowners in Stanford ensure they are not overpaying on their property taxes, offering potential savings and financial relief.
Median Stanford Tax Bill
$720
Median Lincoln County Tax Bill
$557
Median Kentucky Tax Bill
$1,031
Median United States Tax Bill
$2,400
Property Tax Bills Across Stanford, Lincoln County, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 40484 | $58 | $202 | $720 | $1,301 | $1,867 |
Source: Ownwell