Melbourne, Campbell County, Kentucky Property Taxes
Median Melbourne, KY effective property tax rate: 1.25%, significantly higher than the national median of 1.02%, but lower than the Kentucky state median of 1.02%.
Median Melbourne, KY home value: $138,450
Median annual Melbourne, KY tax bill: $1,496, $904 lower than the national median property tax bill of $2,400.
How are property taxes in Campbell calculated?
Property taxes in Melbourne, 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 Melbourne’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Melbourne, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Melbourne, Campbell County, Kentucky Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
1.25%
Estimate Property Tax Bill
$1,731
$1,606
Property Tax Rates Across Melbourne, Campbell County, Kentucky
Local government entities are responsible for setting property tax rates, and these can vary significantly within Kentucky. Each year, counties like Campbell estimate their budget needs for public services and divide this by the total assessed value of all taxable properties in their area. This calculation determines the property tax rate for the year. While the process involves votes and legal stipulations, this is essentially how it works annually.
In Melbourne, the effective property tax rate is an interesting figure to examine, especially when compared to other cities in Kentucky and the national median. Kentucky's median property tax rate is higher than the national median, which is 1.02%. This comparison highlights the differences in how property taxes are levied not just within the state, but also in relation to the broader national landscape. Understanding these rates can provide valuable insights for property owners looking to manage their tax obligations effectively.
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 Melbourne Tax Rate
1.25%
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 Campbell County Tax Rate
1.05%
Median Effective Kentucky Tax Rate
1.02%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Melbourne, Campbell County, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 41059 | 0.81% | 1.00% | 1.25% | 1.25% | 1.25% |
Source: Ownwell
Property Tax Assessment Values Across Melbourne, Campbell County, Kentucky
When examining property taxes in Melbourne, 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 Campbell 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 Campbell 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 Melbourne. For example, the median home price in Melbourne is $138,450, with tax bills ranging significantly across the county. Zip code 41059 has the highest median home price at $138,450.
Property Tax Assessment Values Across Melbourne, Campbell County, Kentucky
Source: Ownwell
$83,000
$204,000
$325,000
Median Melbourne Market Value
$138,450
Median Campbell County Market Value
$157,900
Median Kentucky Market Value
$110,000
Median United States Market Value
$235,294
Property Tax Assessment Values Across Melbourne, Campbell County, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 41059 | $30,000 | $85,725 | $138,450 | $205,000 | $305,000 |
Source: Ownwell
Property Tax Bills Across Melbourne, Campbell County, Kentucky
Median Melbourne Tax Bill
$1,496
Median Campbell County Tax Bill
$1,294
Median Kentucky Tax Bill
$1,031
Median United States Tax Bill
$2,400
Property Tax Bills Across Melbourne, Campbell County, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 41059 | $239 | $886 | $1,496 | $2,312 | $3,752 |
Source: Ownwell