Cynthiana, Bourbon County, Kentucky Property Taxes
Median Cynthiana, KY effective property tax rate: 0.54%, significantly lower than the national median of 1.02%, but lower than the Kentucky state median of 1.02%.
Median Cynthiana, KY home value: $289,900
Median annual Cynthiana, KY tax bill: $1,464, $936 lower than the national median property tax bill of $2,400.
How are property taxes in Bourbon calculated?
Property taxes in Cynthiana, 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 Cynthiana’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Cynthiana, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Cynthiana, Bourbon County, Kentucky Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.54%
Estimate Property Tax Bill
$1,565
$1,453
Property Tax Rates Across Cynthiana, Bourbon County, Kentucky
Local government entities set tax rates, and these can vary significantly within Kentucky. Each county estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction, resulting in the property tax rate. Although votes and laws play a role in setting these rates and budgets, this is essentially the annual process.
In Cynthiana, located in Bourbon County, the effective property tax rate is 0.54%, which is notably lower than the national median property tax rate of 1.02%. This means homeowners in Cynthiana can expect to pay less in property taxes compared to many other areas across the United States. This lower rate can be an attractive factor for potential homeowners or investors considering property in the area. Comparing this to other cities in Kentucky, Cynthiana's rate is consistent with the state's median, reflecting a stable tax environment. For residents and property owners, understanding these rates can provide insight into the financial landscape and potential savings on property taxes.
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 Cynthiana Tax Rate
0.54%
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 Bourbon County Tax Rate
0.57%
Median Effective Kentucky Tax Rate
1.02%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Cynthiana, Bourbon County, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 41031 | 0.29% | 0.39% | 0.54% | 0.73% | 0.88% |
Source: Ownwell
Property Tax Assessment Values Across Cynthiana, Bourbon County, Kentucky
When examining property taxes in Cynthiana, 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 Bourbon 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 Bourbon 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 Cynthiana. For example, the median home price in Cynthiana is $289,900, with tax bills ranging significantly across the county. 41031 has the highest median home price at $289,900.
Property Tax Assessment Values Across Cynthiana, Bourbon County, Kentucky
Source: Ownwell
$13,000
$260,800
$508,600
Median Cynthiana Market Value
$289,900
Median Bourbon County Market Value
$151,200
Median Kentucky Market Value
$110,000
Median United States Market Value
$235,294
Property Tax Assessment Values Across Cynthiana, Bourbon County, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 41031 | $95,000 | $146,025 | $289,900 | $456,925 | $667,798 |
Source: Ownwell
Property Tax Bills Across Cynthiana, Bourbon County, Kentucky
Median Cynthiana Tax Bill
$1,464
Median Bourbon County Tax Bill
$936
Median Kentucky Tax Bill
$1,031
Median United States Tax Bill
$2,400
Property Tax Bills Across Cynthiana, Bourbon County, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 41031 | $515 | $854 | $1,464 | $2,154 | $3,665 |
Source: Ownwell