Independence, Kenton County, Kentucky Property Taxes

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

Median Independence, KY effective property tax rate: 1.26%, significantly higher than the national median of 1.02%, but lower than the Kentucky state median of 1.02%.
Median Independence, KY home value: $200,000
Median annual Independence, KY tax bill: $2432, $32 higher than the national median property tax bill of $2,400.

How are property taxes in Kenton calculated?

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

Last Updated March 1, 2025

Independence, Kenton County, Kentucky Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

1.26%

Estimate Property Tax Bill

$2,520

$2,338

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

Property Tax Rates Across Independence, Kenton County, Kentucky

Local government entities set tax rates, which can vary widely within a state. 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 Independence’s effective property tax rate to other cities in Kentucky and the median property tax rates in Kentucky and the U.S.

Independence, located in Kenton County, has a property tax rate that aligns with the state's median tax rate of 1.26%. This is higher than the national median property tax rate of 1.02%. Despite this, residents of Independence benefit from local services funded by these taxes. The effective property tax rate in Independence is consistent with the highest and lowest median tax rates in Kentucky, both recorded at 1.26% in the zip code 41051. This uniformity is a testament to the county's balanced approach to taxation, ensuring that residents receive necessary services while maintaining a competitive tax rate compared to other regions.

Property Tax Rates Across Independence, Kenton County, Kentucky

Source: Ownwell

0.41%

0.95%

1.50%

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 Independence Tax Rate

1.26%

Median Effective Kenton County Tax Rate

1.07%

Median Effective Kentucky Tax Rate

1.02%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Independence, Kenton County, Kentucky

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
41051	0.93%	1.26%	1.26%	1.26%	1.26%

Source: Ownwell

Property Tax Assessment Values Across Independence, Kenton County, Kentucky

When examining property taxes in Independence, 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 Kenton 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.

Assessment notices:

In Kenton 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 Independence. For example, the median home price in Independence is $200,000, with tax bills ranging significantly across the county. Zip code 41051 has the highest median home price at $200,000.

Property Tax Assessment Values Across Independence, Kenton County, Kentucky

Source: Ownwell

$95,000

$332,350

$569,700

Median Independence Market Value

$200,000

Median Kenton County Market Value

$181,500

Median Kentucky Market Value

$110,000

Median United States Market Value

$235,294

Property Tax Assessment Values Across Independence, Kenton County, Kentucky

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
41051	$132,100	$158,600	$200,000	$253,275	$322,630

Source: Ownwell

Property Tax Bills Across Independence, Kenton County, Kentucky

In Independence, located in Kenton County, KY, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of its market value. Homeowners in Independence face a median property tax bill of $2,432, aligning closely with the national median of $2,400. The tax bill can vary significantly, with the 25th percentile at $1,883 and the 75th percentile reaching $3,113, indicating a diverse range of property values and tax burdens in the area. Factors influencing these bills include the property's assessed value and the local tax rate. For homeowners, these taxes can represent a substantial annual expense, impacting their overall financial planning. Ownwell offers valuable assistance in this area by providing property tax appeal and exemption services. By analyzing individual property assessments and identifying potential discrepancies, Ownwell can help homeowners in Independence reduce their property tax bills, ensuring they pay only their fair share and potentially saving them significant amounts of money annually.

Property Tax Bills Across Independence, Kenton County, Kentucky

Source: Ownwell

$1,247

$2,355

$3,462

Median Independence Tax Bill

$2,432

Median Kenton County Tax Bill

$2,000

Median Kentucky Tax Bill

$1,031

Median United States Tax Bill

$2,400

Property Tax Bills Across Independence, Kenton County, Kentucky

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
41051	$1,342	$1,883	$2,432	$3,113	$3,929

Source: Ownwell