Paris, Montgomery County, Kentucky Property Taxes

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

Median Paris, KY effective property tax rate: 1.08%, significantly higher than the national median of 1.02%, but lower than the Kentucky state median of 1.02%.
Median Paris, KY home value: $58,500
Median annual Paris, KY tax bill: $343, $2,057 lower than the national median property tax bill of $2,400.

How are property taxes in Montgomery calculated?

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

Last Updated March 1, 2025

Paris, Montgomery County, Kentucky Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

1.08%

Estimate Property Tax Bill

$632

$586

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

Property Tax Rates Across Paris, Montgomery County, Kentucky

Local government entities set tax rates, which can vary widely within a state. 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 Paris’s effective property tax rate to other cities in Kentucky and the median property tax rates in Kentucky and the U.S.

In Paris, located in Bourbon County, the property tax rate is 0.86%, which is below the national median of 1.02% and the Kentucky state median of 0.83%. This makes Paris an attractive location for homeowners looking for lower property tax bills compared to the national average. Bourbon County's effective property tax rate is slightly higher than the state median, but it remains competitive when compared to the national average. Understanding these differences can help property owners make informed decisions about where to live and invest in real estate.

Property Tax Rates Across Paris, Montgomery County, Kentucky

Source: Ownwell

1.07%

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 Paris Tax Rate

1.08%

Median Effective Montgomery County Tax Rate

1.08%

Median Effective Kentucky Tax Rate

1.02%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Paris, Montgomery County, Kentucky

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
40361	N/A	N/A	N/A	N/A	N/A

Source: Ownwell

Property Tax Assessment Values Across Paris, Montgomery County, Kentucky

When examining property taxes in Paris, KY, 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 Montgomery 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.

Assessment notices: Montgomery County sends assessment notices 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 Paris. For example, the median home price in Paris is $58,500, with tax bills ranging significantly across the county.

Property Tax Assessment Values Across Paris, Montgomery County, Kentucky

Source: Ownwell

$22,500

$55,750

$89,000

Median Paris Market Value

$58,500

Median Montgomery County Market Value

$80,000

Median Kentucky Market Value

$110,000

Median United States Market Value

$235,294

Property Tax Assessment Values Across Paris, Montgomery County, Kentucky

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
40361	N/A	N/A	N/A	N/A	N/A

Source: Ownwell

Property Tax Bills Across Paris, Montgomery County, Kentucky

In Paris, located in Montgomery County, KY, property tax bills are determined by the assessed value of the home and the local tax rate. With a median home price of $58,500, homeowners in Paris typically face tax bills that vary significantly. The tax bill at the 25th percentile is $319, while at the 75th percentile it rises to $755, and at the 90th percentile, it reaches $889. These figures highlight the range of property tax burdens that homeowners might encounter. Compared to the national median property tax bill of $2,400, Paris offers a relatively lower tax burden, which can be a relief for many homeowners. However, even a seemingly small tax bill can be a financial strain. This is where Ownwell steps in to assist homeowners in reducing their property tax burdens. By appealing assessments and applying for exemptions, Ownwell helps ensure that homeowners pay only what is fair, potentially saving them hundreds of dollars annually.

Property Tax Bills Across Paris, Montgomery County, Kentucky

Source: Ownwell

$217

$531

$844

Median Paris Tax Bill

$343

Median Montgomery County Tax Bill

$736

Median Kentucky Tax Bill

$1,031

Median United States Tax Bill

$2,400

Property Tax Bills Across Paris, Montgomery County, Kentucky

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
40361	N/A	N/A	N/A	N/A	N/A

Source: Ownwell