North Middletown, Bourbon County, Kentucky Property Taxes
Median North Middletown, KY effective property tax rate: 0.88%, significantly lower than the national median of 1.02%, but lower than the Kentucky state median of 1.02%.
Median North Middletown, KY home value: $67,800
Median annual North Middletown, KY tax bill: $464, $1,936 lower than the national median property tax bill of $2,400.
How are property taxes in Bourbon County calculated?
Property taxes in North Middletown, 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 North Middletown’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in North Middletown, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
North Middletown, Bourbon County, Kentucky Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.88%
Estimate Property Tax Bill
$597
$554
Property Tax Rates Across North Middletown, Bourbon County, Kentucky
Local government entities are responsible for setting property tax rates, which can vary significantly within Kentucky. This variation occurs because each county annually estimates its required budget for services and divides that by the total value of all taxable property within its jurisdiction, resulting in the property tax rate. While votes and laws play a role in this process, this annual calculation is the primary method for determining rates.
In North Middletown, located in Bourbon County, the effective property tax rate is 0.88%. This rate is consistent with both the highest and lowest median tax rates in the region, indicating a uniform approach within the county. When compared to the national median property tax rate of 1.02%, North Middletown’s rate is notably lower. This lower rate might appeal to property owners seeking to minimize their tax burden while still enjoying essential local services. Additionally, the median property tax bill in North Middletown is likely to be more affordable than the national median, which stands at $2,400. This financial advantage, coupled with the benefits of local services, makes North Middletown an attractive location for property investment.
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 North Middletown Tax Rate
0.88%
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 North Middletown, Bourbon County, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 40357 | 0.40% | 0.88% | 0.88% | 0.88% | 0.88% |
Source: Ownwell
Property Tax Assessment Values Across North Middletown, Bourbon County, Kentucky
When examining property taxes in North Middletown, 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 North Middletown. For example, the median home price in North Middletown is $67,800, with tax bills ranging significantly across the county. Zip code 40357 has the highest median home price at $67,800.
Property Tax Assessment Values Across North Middletown, Bourbon County, Kentucky
Source: Ownwell
$13,000
$260,800
$508,600
Median North Middletown Market Value
$67,800
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 North Middletown, Bourbon County, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 40357 | $22,600 | $35,200 | $67,800 | $87,000 | $114,640 |
Source: Ownwell
Property Tax Bills Across North Middletown, Bourbon County, Kentucky
In North Middletown, located in Bourbon County, KY, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. Compared to the national median property tax bill of $2,400, North Middletown homeowners have a significantly lower median tax bill of $464. This can provide substantial savings for homeowners, especially when considering the national median property tax rate of 1.02%.
For homeowners in North Middletown, factors such as property improvements or changes in the local tax rate can influence the assessed value and, subsequently, the tax bill. Ownwell offers expert property tax appeal services to help homeowners ensure their property assessments are fair and accurate. By reviewing assessment details and identifying potential errors or discrepancies, Ownwell can assist in reducing property tax bills. This service can be particularly beneficial for those in the 90th percentile, where tax bills can reach up to $1,003, providing peace of mind and potential savings.
Median North Middletown Tax Bill
$464
Median Bourbon County Tax Bill
$936
Median Kentucky Tax Bill
$1,031
Median United States Tax Bill
$2,400
Property Tax Bills Across North Middletown, Bourbon County, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 40357 | $194 | $248 | $464 | $700 | $1,003 |
Source: Ownwell