Mount Vernon, Rockcastle County, Kentucky Property Taxes
Median MOUNT VERNON, KY effective property tax rate: 0.83%, significantly lower than the national median of 1.02%, but lower than the Kentucky state median of 1.02%.
Median MOUNT VERNON, KY home value: $50,000
Median annual MOUNT VERNON, KY tax bill: $302, $2,098 lower than the national median property tax bill of $2,400.
How are property taxes in Rockcastle calculated?
Property taxes in MOUNT VERNON, 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 MOUNT VERNON’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in MOUNT VERNON, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Mount Vernon, Rockcastle County, Kentucky Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.83%
Estimate Property Tax Bill
$415
$385
Property Tax Rates Across Mount Vernon, Rockcastle County, Kentucky
Local government entities determine tax rates, which can vary significantly within a state. Each year, counties estimate their required budget to provide essential services and divide that by the total value of all taxable property within their jurisdiction. This calculation determines the property tax rate. While votes and laws play a role in setting tax rates and budgets, this is essentially the annual process.
In Mount Vernon, located in Rockcastle County, KY, the effective property tax rate is 0.83%, which is below the national median of 1.02%. This rate is consistent across the county, making it one of the more affordable areas for property taxes in Kentucky. Compared to the national median property tax bill of $2400, residents in Mount Vernon enjoy a relatively lower tax burden. This can be an attractive factor for homeowners and potential buyers looking for more affordable property tax rates. Understanding these rates and how they compare locally and nationally can help residents make informed decisions regarding their property investments.
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 Mount Vernon Tax Rate
0.83%
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 Rockcastle County Tax Rate
0.83%
Median Effective Kentucky Tax Rate
1.02%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Mount Vernon, Rockcastle County, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 40456 | 0.40% | 0.83% | 0.83% | 0.83% | 0.83% |
Source: Ownwell
Property Tax Assessment Values Across Mount Vernon, Rockcastle County, Kentucky
When examining property taxes in Mount Vernon, 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 Rockcastle 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 Rockcastle 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 Mount Vernon.
For example, the median home price in Mount Vernon is $50,000, with tax bills ranging significantly across the county. The zip code 40456 has the highest median home price at $50,000.
Property Tax Assessment Values Across Mount Vernon, Rockcastle County, Kentucky
Source: Ownwell
$20,000
$40,000
$60,000
Median Mount Vernon Market Value
$50,000
Median Rockcastle County Market Value
$48,500
Median Kentucky Market Value
$110,000
Median United States Market Value
$235,294
Property Tax Assessment Values Across Mount Vernon, Rockcastle County, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 40456 | $4,500 | $14,350 | $50,000 | $96,150 | $156,930 |
Source: Ownwell
Property Tax Bills Across Mount Vernon, Rockcastle County, Kentucky
Median Mount Vernon Tax Bill
$302
Median Rockcastle County Tax Bill
$286
Median Kentucky Tax Bill
$1,031
Median United States Tax Bill
$2,400
Property Tax Bills Across Mount Vernon, Rockcastle County, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 40456 | $33 | $83 | $302 | $704 | $1,242 |
Source: Ownwell