Nicholasville, Jessamine County, Kentucky Property Taxes
Median Nicholasville, KY effective property tax rate: 1.06%, slightly higher than the national median of 1.02%, but lower than the Kentucky state median of 1.02%.
Median Nicholasville, KY home value: $189,700
Median annual Nicholasville, KY tax bill: $1,848, $552 lower than the national median property tax bill of $2,400.
How are property taxes in Jessamine calculated?
Property taxes in Nicholasville, 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 Nicholasville’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Nicholasville, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Nicholasville, Jessamine County, Kentucky Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
1.06%
Estimate Property Tax Bill
$2,011
$1,866
Property Tax Rates Across Nicholasville, Jessamine County, Kentucky
Local government entities set property tax rates, which can vary significantly within Kentucky. Each year, counties like Jessamine estimate their required budget to provide essential services. This budget is then divided by the total value of all taxable property within the county to calculate the property tax rate. Though votes and laws play a role in setting these rates and budgets, this is essentially how the annual process unfolds.
In Nicholasville, located in Jessamine County, the effective property tax rate reflects the county's financial needs and property values. This rate is consistent with the median property tax rate in Kentucky, which stands at 1.06%. When compared to the national median property tax rate of 1.02%, residents in Nicholasville experience slightly higher property tax rates. However, the median property tax bill in Kentucky remains competitive when compared to the national median of $2,400. Understanding these rates can help property owners in Nicholasville make informed decisions about property tax appeals and exemptions.
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 Nicholasville Tax Rate
1.06%
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 Jessamine County Tax Rate
1.06%
Median Effective Kentucky Tax Rate
1.02%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Nicholasville, Jessamine County, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 40356 | 0.70% | 0.95% | 1.06% | 1.06% | 1.12% |
Source: Ownwell
Property Tax Assessment Values Across Nicholasville, Jessamine County, Kentucky
When examining property taxes in Nicholasville, 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 Jessamine County Property Valuation Administrator 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 Jessamine 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 Nicholasville.
For example, the median home price in Nicholasville is $189,700, with tax bills ranging significantly across the county. Zip code 40356 has the highest median home price at $189,700.
Property Tax Assessment Values Across Nicholasville, Jessamine County, Kentucky
Source: Ownwell
$71,553
$213,277
$355,000
Median Nicholasville Market Value
$189,700
Median Jessamine County Market Value
$189,900
Median Kentucky Market Value
$110,000
Median United States Market Value
$235,294
Property Tax Assessment Values Across Nicholasville, Jessamine County, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 40356 | $73,300 | $123,338 | $189,700 | $310,000 | $521,930 |
Source: Ownwell
Property Tax Bills Across Nicholasville, Jessamine County, Kentucky
In Nicholasville, Jessamine County, KY, property tax bills are calculated based on the assessed value of a home. The local government determines this assessed value, which may not always align with the market value. Homeowners in Nicholasville pay a tax bill that can vary significantly, with the 25th percentile at $1,143 and the 75th percentile at $3,019. This variability can impact homeowners' financial planning, especially when compared to the national median property tax bill of $2,400. For those at the 90th percentile, tax bills can reach up to $5,145, highlighting the importance of understanding and potentially appealing these assessments.
Ownwell offers a solution by providing property tax appeal and exemption services, helping homeowners challenge excessive assessments. By ensuring that the assessed value accurately reflects the property's true market value, Ownwell can help reduce tax burdens. This service can be particularly beneficial in areas like Nicholasville, where the highest and lowest median tax bills both stand at $1,848, emphasizing the potential for discrepancies in tax calculations.
Median Nicholasville Tax Bill
$1,848
Median Jessamine County Tax Bill
$1,839
Median Kentucky Tax Bill
$1,031
Median United States Tax Bill
$2,400
Property Tax Bills Across Nicholasville, Jessamine County, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 40356 | $655 | $1,143 | $1,848 | $3,019 | $5,145 |
Source: Ownwell