Monroe County, Kentucky Property Taxes

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

Median Monroe County effective property tax rate: 0.92%, significantly lower than the national median of 1.02%.
Median Monroe County home value: $42,000
Median annual Monroe County tax bill: $328, $2,072 lower than the national median property tax bill of $2,400.

How are property taxes in Monroe County calculated?

Property taxes in Monroe County 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 your county's property tax system, exemptions, and reduction opportunities can lead to significant savings. Whether you live in Tompkinsville or another part of Monroe County, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

Monroe County, Kentucky Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

0.92%

Estimate Property Tax Bill

$386

$359

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

Property Tax Rates Across Monroe County, Kentucky

Local government entities set tax rates, which can vary widely within a state. This is because each county estimates its required budget to provide services annually 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, this is the annual process in a nutshell. Below, you can compare Monroe County's effective property tax rate to other counties in Kentucky or the U.S. median property tax rate.

Property Tax Rates Across Monroe County, Kentucky

Source: Ownwell

0.92%

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 Monroe County Tax Rate

0.92%

Median Effective Kentucky Tax Rate

1.02%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Monroe County, Kentucky

City	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
Fountain Run	0.42%	0.92%	0.92%	0.92%	0.92%
Gamaliel	0.43%	0.92%	0.92%	0.92%	0.92%
Hestand	0.58%	0.92%	0.92%	0.92%	0.93%
Mount Hermon	0.41%	0.92%	0.92%	0.92%	0.92%
Summer Shade	0.48%	0.83%	0.92%	0.92%	0.92%
Tompkinsville	0.47%	0.92%	0.92%	0.92%	0.92%
Glasgow	N/A	N/A	N/A	N/A	N/A

Source: Ownwell

Property Tax Assessment Values Across Monroe County, Kentucky

When examining property taxes in Monroe County, 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 Monroe 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 Monroe 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 Monroe County. For example, the median tax bill in Monroe County is $502, with tax bills ranging significantly across the county. Summer Shade has the highest median home price at $60,000.

Property Tax Assessment Values Across Monroe County, Kentucky

Source: Ownwell

$28,850

$44,425

$60,000

Median Monroe County Market Value

$42,000

Median Kentucky Market Value

$110,000

Median United States Market Value

$235,294

Property Tax Assessment Values Across Monroe County, Kentucky

City	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
Fountain Run	$3,000	$8,500	$28,850	$64,000	$97,800
Gamaliel	$5,000	$13,625	$46,500	$74,500	$117,900
Hestand	$1,880	$10,000	$30,000	$79,750	$100,900
Mount Hermon	$5,950	$15,750	$41,000	$72,525	$112,690
Summer Shade	$11,040	$35,500	$60,000	$119,000	$185,600
Tompkinsville	$5,600	$17,000	$50,000	$91,500	$148,500
Glasgow	N/A	N/A	N/A	N/A	N/A

Source: Ownwell

Property Tax Bills Across Monroe County, Kentucky

In Monroe County, KY, property tax bills are determined by multiplying the assessed value of a home by the local tax rate. The assessed value is typically a percentage of the market value, which is evaluated by the county assessor. Factors influencing the tax bill include the property's location, size, and any applicable exemptions or deductions. Monroe County's median property tax bill is significantly lower than the national median of $2,400, with values ranging from $210 in Fountain Run to $502 in Summer Shade. This range reflects the variation in property values and local tax rates within the county. For homeowners, understanding how these factors impact their tax bill is crucial for financial planning. The 25th percentile tax bill is $101, while the 75th percentile is $693, indicating a broad spectrum of property values and tax obligations. The tax burden in Monroe County is generally lower than the national median property tax rate of 1.02%, offering homeowners a more affordable living situation compared to many other regions.

Property Tax Bills Across Monroe County, Kentucky

Source: Ownwell

$210

$356

$502

Median Monroe County Tax Bill

$328

Median Kentucky Tax Bill

$1,031

Median United States Tax Bill

$2,400

Property Tax Bills Across Monroe County, Kentucky

City	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
Fountain Run	$28	$69	$210	$500	$840
Gamaliel	$46	$109	$360	$619	$1,030
Hestand	$13	$76	$280	$646	$861
Mount Hermon	$43	$131	$330	$648	$1,044
Summer Shade	$102	$247	$502	$1,013	$1,621
Tompkinsville	$46	$139	$397	$782	$1,294
Glasgow	N/A	N/A	N/A	N/A	N/A

Source: Ownwell