Georgetown, Fayette County, Kentucky Property Taxes

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

Median Georgetown, KY effective property tax rate: 1.07%, slightly higher than the national median of 1.02%, but lower than the Kentucky state median of 1.02%. Median Georgetown, KY home value: $3,500. Median annual Georgetown, KY tax bill: $37, $2,363 lower than the national median property tax bill of $2,400.

How are property taxes in Fayette calculated?

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

Last Updated March 1, 2025

Georgetown, Fayette County, Kentucky Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

1.07%

Estimate Property Tax Bill

$37

$35

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

Property Tax Rates Across Georgetown, Fayette County, Kentucky

Local government entities are responsible for setting tax rates, which can vary significantly within a state. Each year, counties estimate the budget needed to provide services and divide that by the total value of all taxable property within their jurisdiction, resulting in the property tax rate. While votes and laws play a role in setting tax rates and budgets, this is essentially the annual process.

In Georgetown, located in Scott County, Kentucky, the effective property tax rate stands at 1.07%, which aligns closely with the state median. This rate is slightly above the national median property tax rate of 1.02%. Residents of Georgetown face property tax bills that are generally consistent with the state average, offering a balanced approach compared to other regions. Understanding how these rates compare to the national median property tax bill of $2,400 can provide valuable insights for property owners. By staying informed about local tax trends, property owners can make more informed decisions about their investments and financial planning.

Property Tax Rates Across Georgetown, Fayette County, Kentucky

Source: Ownwell

1.07%

1.15%

1.24%

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 Georgetown Tax Rate

1.07%

Median Effective Fayette County Tax Rate

1.24%

Median Effective Kentucky Tax Rate

1.02%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Georgetown, Fayette County, Kentucky

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
40324	1.07%	1.07%	1.07%	1.07%	1.20%

Source: Ownwell

Property Tax Assessment Values Across Georgetown, Fayette County, Kentucky

When examining property taxes in Georgetown, 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 Fayette 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. Assessment notices in Fayette County are sent in the spring each year. They’ll typically reach your mailbox by the middle of March. 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 Georgetown. For example, the median home price in Georgetown is $3,500, with tax bills ranging significantly across the county. Zip code 40324 has the highest median home price at $3,500.

Property Tax Assessment Values Across Georgetown, Fayette County, Kentucky

Source: Ownwell

$3,500

$230,500

$457,500

Median Georgetown Market Value

$3,500

Median Fayette County Market Value

$206,100

Median Kentucky Market Value

$110,000

Median United States Market Value

$235,294

Property Tax Assessment Values Across Georgetown, Fayette County, Kentucky

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
40324	$1,560	$2,600	$3,500	$5,100	$436,800

Source: Ownwell

Property Tax Bills Across Georgetown, Fayette County, Kentucky

In Georgetown, located in Fayette County, KY, property tax bills are determined based on the assessed value of a home. The local tax rate is applied to this assessed value to calculate the annual tax bill. With a median home price in Georgetown of $3,500, homeowners can expect varying tax bills depending on their property’s assessed value. For example, while some homeowners might pay as little as $29, others could see tax bills reaching up to $4,847. Comparatively, the national median property tax bill is $2,400, highlighting the range homeowners in Georgetown might experience. Factors such as property location, improvements, and local tax levies contribute to the final tax bill. For homeowners looking to optimize their property taxes, Ownwell offers expert services to appeal assessments and secure exemptions. By leveraging local expertise, Ownwell can identify potential savings opportunities, helping homeowners reduce their tax burden and ensure they are not overpaying on their property taxes.

Property Tax Bills Across Georgetown, Fayette County, Kentucky

Source: Ownwell

$37

$2,330

$4,622

Median Georgetown Tax Bill

$37

Median Fayette County Tax Bill

$2,391

Median Kentucky Tax Bill

$1,031

Median United States Tax Bill

$2,400

Property Tax Bills Across Georgetown, Fayette County, Kentucky

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
40324	$16	$29	$37	$105	$4,847

Source: Ownwell