Versailles, Jessamine County, Kentucky Property Taxes

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

Median Versailles, KY effective property tax rate: 1.12%, significantly higher than the national median of 1.02%, but lower than the Kentucky state median of 1.02%.
Median Versailles, KY home value: $355,000
Median annual Versailles, KY tax bill: $3,493, $1,093 higher than the national median property tax bill of $2,400.

How are property taxes in Jessamine County calculated?

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

Last Updated March 1, 2025

Versailles, Jessamine County, Kentucky Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

1.12%

Estimate Property Tax Bill

$3,976

$3,690

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

Property Tax Rates Across Versailles, Jessamine County, Kentucky

Local government entities set tax rates, which can vary widely within a state. Annually, each county estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate. While there are votes and laws involved in setting tax rates and budgets, in a nutshell, this is the annual process. Below, you can compare Versailles’s effective property tax rate to other cities in Kentucky and the median property tax rates in Kentucky and the U.S.

Property Tax Rates Across Versailles, Jessamine County, Kentucky

Source: Ownwell

1.06%

1.09%

1.12%

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 Versailles Tax Rate

1.12%

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 Versailles, Jessamine County, Kentucky

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
40383	0.52%	0.91%	1.12%	1.12%	1.12%

Source: Ownwell

Property Tax Assessment Values Across Versailles, Jessamine County, Kentucky

When examining property taxes in Versailles, 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 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 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 Versailles. For example, the median home price in Versailles is $355,000, with tax bills ranging significantly across the county. 40383 has the highest median home price at $355,000.

Property Tax Assessment Values Across Versailles, Jessamine County, Kentucky

Source: Ownwell

$71,553

$213,277

$355,000

Median Versailles Market Value

$355,000

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 Versailles, Jessamine County, Kentucky

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
40383	$99,500	$227,250	$355,000	$590,700	$850,000

Source: Ownwell

Property Tax Bills Across Versailles, Jessamine County, Kentucky

In Versailles, Jessamine County, KY, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. The assessed value is then multiplied by the local tax rate to determine the annual property tax bill. Homeowners in Versailles face a median property tax bill of $3,493, which is notably higher than the national median of $2,400. The tax bill can range significantly, with the 25th percentile at $2,001 and the 90th percentile reaching up to $8,620. This variance is influenced by factors such as property size, location, and market conditions. High property taxes can place a financial burden on homeowners, making it essential to ensure that their property is not over-assessed. Ownwell provides expert property tax appeal services to help homeowners in Versailles potentially reduce their tax bills. By analyzing local market conditions and comparable property values, Ownwell can identify opportunities for savings, ensuring homeowners pay only their fair share.

Property Tax Bills Across Versailles, Jessamine County, Kentucky

Source: Ownwell

$727

$2,110

$3,493

Median Versailles Tax Bill

$3,493

Median Jessamine County Tax Bill

$1,839

Median Kentucky Tax Bill

$1,031

Median United States Tax Bill

$2,400

Property Tax Bills Across Versailles, Jessamine County, Kentucky

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
40383	$631	$2,001	$3,493	$5,534	$8,620

Source: Ownwell