Bedford, Trimble County, Kentucky Property Taxes

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

Median Bedford, KY effective property tax rate: 1.13%, significantly higher than the national median of 1.02%, but lower than the Kentucky state median of 1.02%.
Median Bedford, KY home value: $85,200
Median annual Bedford, KY tax bill: $845, $1,555 lower than the national median property tax bill of $2,400.

How are property taxes in Trimble calculated?

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

Last Updated March 1, 2025

Bedford, Trimble County, Kentucky Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

1.13%

Estimate Property Tax Bill

$963

$893

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

Property Tax Rates Across Bedford, Trimble County, Kentucky

As noted earlier, 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 Bedford’s effective property tax rate to other cities in Kentucky and the median property tax rates in Kentucky and the U.S. Bedford, located in county 21223, has an effective property tax rate of 1.13%, which is slightly above the national median of 1.02%. This places Bedford on the higher end of the spectrum within the state, as it shares its rate with other areas in Kentucky, marking it as both the highest and lowest in the region. This consistency in the tax rate across different areas within the state can offer predictability for property owners, but it's essential to consider how these rates compare with the national landscape. Understanding these figures can help property owners in managing their expenses and exploring potential savings through exemptions or appeals.

Property Tax Rates Across Bedford, Trimble County, Kentucky

Source: Ownwell

1.13%

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 Bedford Tax Rate

1.13%

Median Effective Trimble County Tax Rate

1.13%

Median Effective Kentucky Tax Rate

1.02%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Bedford, Trimble County, Kentucky

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
40006	0.53%	1.13%	1.13%	1.13%	1.15%

Source: Ownwell

Property Tax Assessment Values Across Bedford, Trimble County, Kentucky

When examining property taxes in Bedford, 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 Trimble 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 Trimble 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 Bedford. For example, the median home price in Bedford is $85,200, with tax bills ranging significantly across the county. Zip code 40006 has the highest median home price at $85,200.

Property Tax Assessment Values Across Bedford, Trimble County, Kentucky

Source: Ownwell

$80,000

$95,500

$111,000

Median Bedford Market Value

$85,200

Median Trimble County Market Value

$85,000

Median Kentucky Market Value

$110,000

Median United States Market Value

$235,294

Property Tax Assessment Values Across Bedford, Trimble County, Kentucky

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
40006	$20,000	$50,000	$85,200	$135,000	$190,550

Source: Ownwell

Property Tax Bills Across Bedford, Trimble County, Kentucky

In Bedford, KY, property tax bills are calculated by multiplying the assessed value of a home by the local tax rate. The median home price in Bedford is $85,200, which plays a crucial role in determining the tax bill. Factors such as property characteristics and market conditions influence the assessed value. Homeowners in Bedford face property tax bills that vary significantly, with the 25th percentile at $417 and the 75th percentile at $1,451. The 90th percentile can reach up to $2,081, reflecting a wide range of tax liabilities. The median tax bill in the region is $845, which is below the national median of $2,400, offering some relief to homeowners. However, this still represents a significant expense for many. Ownwell can assist homeowners by providing expert property tax appeal and exemption services, potentially lowering their tax bills. By analyzing property assessments and identifying discrepancies, Ownwell helps ensure that homeowners in Bedford pay only their fair share, optimizing their savings.

Property Tax Bills Across Bedford, Trimble County, Kentucky

Source: Ownwell

$788

$941

$1,093

Median Bedford Tax Bill

$845

Median Trimble County Tax Bill

$844

Median Kentucky Tax Bill

$1,031

Median United States Tax Bill

$2,400

Property Tax Bills Across Bedford, Trimble County, Kentucky

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
40006	$149	$417	$845	$1,451	$2,081

Source: Ownwell