Eddyville, Lyon County, Kentucky Property Taxes
Property Taxes in Eddyville, Kentucky
Median Eddyville, Kentucky effective property tax rate: 0.81%, significantly lower than the national median of 1.02%, and lower than the Kentucky state median of 1.02%.
Median Eddyville, Kentucky home value: $68,000
Median annual Eddyville, Kentucky tax bill: $502, lower than the national median property tax bill of $2,400.
How are property taxes in Lyon County calculated?
Property taxes in Eddyville, Kentucky 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 Eddyville's property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Eddyville, knowing local tax details benefits homeowners and investors.
Last Updated April 13, 2026
Eddyville, Lyon County, Kentucky Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.81%
Estimate Property Tax Bill
$551
$511
How Does the Eddyville Property Tax Calculator Work?
Use this Eddyville property tax calculator to estimate your annual property tax bill. Enter your property's assessed value and our calculator applies Eddyville's median effective tax rate of 0.81% — based on actual property records in Lyon County — to generate your estimate.
Enter your property's estimated assessed value — the figure the local assessment process uses to calculate your bill, which reflects any exemptions you hold and is typically lower than your home's market value. Our calculator applies Eddyville's median effective rate across all local levies, providing a more accurate estimate than applying a single county millage rate.
Your bill may vary by ZIP code within Eddyville: rates range from 0.81% in 42038 to 0.81% in 42038, primarily due to differences in school district levies and local assessment districts.
For a more precise estimate, scroll down to explore ZIP code-level tax rate trends across Eddyville.
About Eddyville Property Taxes
About Property Taxes in Eddyville, Lyon, Kentucky
Eddyville’s median effective property tax rate of 0.81% is lower than the Kentucky state median of 1.02% and lower than the national median of 1.02%. This rate reflects the Lyon County base levy combined with local school district levies and special assessment districts that vary by subdivision throughout the city.
Property tax rates are not uniform across Eddyville. Homeowners in ZIP code 42038 carry a median effective rate of 0.81%, while the same ZIP also reflects a median tax bill of $502 and a median home price of $68,000. Understanding how assessed value and local district boundaries affect your bill can make a meaningful difference to your annual property taxes.
Eddyville homeowners who believe their assessed value is too high can file a formal appeal with the Lyon County Tax Assessor before May 18, 2026.
If your estimated bill seems higher than expected, Ownwell can review your assessment and protest on your behalf. You only pay if we save you money.
Property Tax Rates Across Eddyville, Lyon County, Kentucky
As noted earlier, local government entities set tax rates, which can vary widely within a state.
Why? Because 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 Eddyville's effective property tax rate to other cities in Kentucky and the median property tax rates in Kentucky and the U.S.
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 Eddyville Tax Rate
0.81%
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 Lyon County Tax Rate
0.81%
Median Effective Kentucky Tax Rate
1.02%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Eddyville, Lyon County, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 42038 | 0.62% | 0.81% | 0.81% | 0.89% | 0.89% |
Source: Ownwell
Property Tax Assessment Values Across Eddyville, Lyon County, Kentucky
When examining property taxes in Eddyville, 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 Lyon 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 Lyon County, assessment notices are sent in the spring each year. They'll typically reach your mailbox by the middle of the month when notices are sent.
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. The median home price in Eddyville is $68,000, with tax bills ranging from $101 at the 25th percentile to $3,230 at the 90th percentile. The median tax bill is $502, compared with the national median property tax bill of $2,400.
Property Tax Assessment Values Across Eddyville, Lyon County, Kentucky
Source: Ownwell
$68,000
$82,125
$96,250
Median Eddyville Market Value
$68,000
Median Lyon County Market Value
$72,000
Median Kentucky Market Value
$116,000
Median United States Market Value
$235,294
Property Tax Assessment Values Across Eddyville, Lyon County, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 42038 | $3,000 | $11,000 | $68,000 | $175,000 | $375,000 |
Source: Ownwell
Property Tax Bills Across Eddyville, Lyon County, Kentucky
Property tax bills in Eddyville are based on the assessed value of a home, not its market price alone. Local taxing authorities apply their tax rates to that assessed value to determine the annual bill, and the amount can vary depending on where the property is located within Lyon County and which local services fund the levy.
For homeowners, this means a lower or higher assessed value can directly affect what they owe each year. With a median home price of $68,000, the typical tax burden in Eddyville is relatively modest compared with the national median property tax bill of $2,400. Still, bills can differ widely: the 25th percentile is $101, while the 75th percentile reaches $1,458, and the 90th percentile rises to $3,230.
That range shows how property tax bills can change based on assessment levels and local tax rates, making them an important part of homeownership costs.
Median Eddyville Tax Bill
$502
Median Lyon County Tax Bill
$533
Median Kentucky Tax Bill
$1,071
Median United States Tax Bill
$2,400
Property Tax Bills Across Eddyville, Lyon County, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 42038 | $30 | $101 | $502 | $1,458 | $3,230 |
Source: Ownwell
Don't miss the deadline to appeal!
Dates | |
|---|---|
| Appeal Deadline | May 18 |
Links | |
|---|---|
| Lyon Tax Assessor | |
| Website | qpublic.schneidercorp.com |