Louisville, Shelby County, Kentucky Property Taxes
Median Louisville, KY effective property tax rate: 1.16%, significantly higher than the national median of 1.02%, but lower than the Kentucky state median of 1.02%.
Median Louisville, KY home value: $395,000
Median annual Louisville, KY tax bill: $4,420, $2,020 higher than the national median property tax bill of $2,400.
How are property taxes in Shelby calculated?
Property taxes in Louisville, 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 Louisville’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Louisville, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Louisville, Shelby County, Kentucky Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
1.16%
Estimate Property Tax Bill
$4,582
$4,252
Property Tax Rates Across Louisville, Shelby County, Kentucky
Local government entities determine tax rates, which can differ significantly within a state. Each year, counties estimate the budget needed to provide essential services and divide this by the total value of all taxable properties in their jurisdiction. This calculation establishes the property tax rate. Although votes and laws play a role in setting these rates and budgets, this is essentially the annual procedure.
In Louisville, located in Shelby County, the effective property tax rate stands at 1.16%. This rate is higher than the national median property tax rate of 1.02%. Compared to other cities in Kentucky, Louisville's rate aligns with the state median. However, it is important to consider that tax rates can vary across different regions and neighborhoods within the county. Property owners in Louisville might experience tax bills that reflect this effective tax rate, impacting their annual financial obligations. Understanding these differences can help property owners make informed decisions regarding their tax liabilities and potential savings through appeal or exemption services.
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 Louisville Tax Rate
1.16%
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 Shelby County Tax Rate
1.15%
Median Effective Kentucky Tax Rate
1.02%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Louisville, Shelby County, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 40245 | 1.00% | 1.05% | 1.16% | 1.16% | 1.17% |
Source: Ownwell
Property Tax Assessment Values Across Louisville, Shelby County, Kentucky
When examining property taxes in Louisville, 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 Shelby County Property Valuation Administrator 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 Shelby 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 Louisville. For example, the median home price in Louisville is $395,000, with tax bills ranging significantly across the county. Zip code 40245 has the highest median home price at $395,000.
Property Tax Assessment Values Across Louisville, Shelby County, Kentucky
Source: Ownwell
$50,000
$222,500
$395,000
Median Louisville Market Value
$395,000
Median Shelby County Market Value
$175,000
Median Kentucky Market Value
$110,000
Median United States Market Value
$235,294
Property Tax Assessment Values Across Louisville, Shelby County, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 40245 | $181,340 | $280,000 | $395,000 | $512,000 | $666,800 |
Source: Ownwell
Property Tax Bills Across Louisville, Shelby County, Kentucky
Property tax bills in Louisville, located in Shelby County, KY, are calculated based on the assessed value of a property. The local tax rate is applied to this assessed value, which is typically a percentage of the market value. Homeowners in Louisville face a range of property tax bills, with the 25th percentile at $3,024 and the 75th percentile reaching $5,842. This variation highlights the impact of property location and value on tax obligations. The median home price in Louisville is $395,000, and homeowners in the ZIP code 40245 experience a median tax bill of $4,420, which is above the national median property tax bill of $2,400.
For homeowners looking to reduce their property tax bills, Ownwell offers valuable services. By providing expert assistance in property tax appeals and exemptions, Ownwell helps homeowners potentially lower their assessed values, leading to significant savings. This service can be particularly beneficial in areas like Louisville, where property tax bills can exceed the national average.
Median Louisville Tax Bill
$4,420
Median Shelby County Tax Bill
$1,854
Median Kentucky Tax Bill
$1,031
Median United States Tax Bill
$2,400
Property Tax Bills Across Louisville, Shelby County, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 40245 | $1,896 | $3,024 | $4,420 | $5,842 | $7,662 |
Source: Ownwell