Buffalo, Larue County, Kentucky Property Taxes
Median Buffalo, KY effective property tax rate: 1.01%, slightly lower than the national median of 1.02%, but also lower than the Kentucky state median of 1.02%.
Median Buffalo, KY home value: $87,450
Median annual Buffalo, KY tax bill: $673, $1,727 lower than the national median property tax bill of $2,400.
How are property taxes in Larue County calculated?
Property taxes in Buffalo, 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 Buffalo’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Buffalo, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Buffalo, Larue County, Kentucky Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
1.01%
Estimate Property Tax Bill
$883
$820
Property Tax Rates Across Buffalo, Larue 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.
In Buffalo, located in Larue County, Kentucky, property owners experience a median tax rate of 1.01%. This rate is notably close to the national median property tax rate of 1.02%. Comparatively, the property tax rate in Buffalo aligns with other cities in Kentucky, reflecting a consistent approach to property taxation within the state. The median property tax bill in Buffalo is also competitive with the national median of $2400, offering residents a relatively balanced tax obligation.
For homeowners in Buffalo, understanding how these rates are determined can be crucial in making informed financial decisions. By staying informed about local tax policies, residents can better anticipate their annual tax obligations and plan accordingly.
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 Buffalo Tax Rate
1.01%
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 Larue County Tax Rate
0.98%
Median Effective Kentucky Tax Rate
1.02%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Buffalo, Larue County, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 42716 | 0.32% | 0.60% | 1.01% | 1.06% | 1.22% |
Source: Ownwell
Property Tax Assessment Values Across Buffalo, Larue County, Kentucky
When examining property taxes in Buffalo, Kentucky, 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 Larue 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 Larue 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 Buffalo.
For example, the median home price in Buffalo is $87,450, with tax bills ranging significantly across the county. Zip code 42716 has the highest median home price at $87,450.
Property Tax Assessment Values Across Buffalo, Larue County, Kentucky
Source: Ownwell
$65,000
$97,250
$129,500
Median Buffalo Market Value
$87,450
Median Larue County Market Value
$95,000
Median Kentucky Market Value
$110,000
Median United States Market Value
$235,294
Property Tax Assessment Values Across Buffalo, Larue County, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 42716 | $13,500 | $38,000 | $87,450 | $145,000 | $225,000 |
Source: Ownwell
Property Tax Bills Across Buffalo, Larue County, Kentucky
Median Buffalo Tax Bill
$673
Median Larue County Tax Bill
$717
Median Kentucky Tax Bill
$1,031
Median United States Tax Bill
$2,400
Property Tax Bills Across Buffalo, Larue County, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 42716 | $131 | $280 | $673 | $1,144 | $1,655 |
Source: Ownwell