Wellington, Morgan County, Kentucky Property Taxes
Median Wellington, KY effective property tax rate: 1.18%, significantly higher than the national median of 1.02%, but lower than the Kentucky state median of 1.02%.
Median Wellington, KY home value: $45,000
Median annual Wellington, KY tax bill: $411, $1,989 lower than the national median property tax bill of $2,400.
How are property taxes in Morgan County calculated?
Property taxes in Wellington, 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 Wellington’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Wellington, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Wellington, Morgan County, Kentucky Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
1.18%
Estimate Property Tax Bill
$531
$493
Property Tax Rates Across Wellington, Morgan County, Kentucky
Local government entities set tax rates, which can vary widely within Kentucky. Each year, counties estimate their required budgets for services and divide that by the total value of all taxable property within their jurisdiction, resulting in the property tax rate. Votes and laws play a role in setting these rates and budgets, but this is the annual process in a nutshell.
In Wellington, located in Morgan County, property owners face an effective property tax rate of 1.18%. This rate is higher than the national median property tax rate of 1.02%, reflecting the unique budgetary needs and property values of the area. Compared to other cities in Kentucky, Wellington's tax rate aligns with the highest median tax rate in the state.
Understanding these rates is crucial for property owners, as they directly impact annual property tax bills. With the national median property tax bill at $2,400, Wellington's rate suggests higher local tax obligations, emphasizing the importance of exploring property tax appeal and exemption services to potentially mitigate costs.
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 Wellington Tax Rate
1.18%
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 Morgan County Tax Rate
1.24%
Median Effective Kentucky Tax Rate
1.02%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Wellington, Morgan County, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 40387 | 0.46% | 0.66% | 1.18% | 1.24% | 1.24% |
Source: Ownwell
Property Tax Assessment Values Across Wellington, Morgan County, Kentucky
When examining property taxes in Wellington, 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 Morgan 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.
In Morgan 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 Wellington. For example, the median home price in Wellington is $45,000, with tax bills ranging significantly across the county. Zip code 40387 has the highest median home price at $45,000.
Property Tax Assessment Values Across Wellington, Morgan County, Kentucky
Source: Ownwell
$23,000
$34,000
$45,000
Median Wellington Market Value
$45,000
Median Morgan County Market Value
$35,000
Median Kentucky Market Value
$110,000
Median United States Market Value
$235,294
Property Tax Assessment Values Across Wellington, Morgan County, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 40387 | $5,000 | $15,000 | $45,000 | $108,000 | $202,000 |
Source: Ownwell
Property Tax Bills Across Wellington, Morgan County, Kentucky
In Wellington, KY, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of its market value. With a median home price of $45,000, the property tax bill is often lower compared to the national median bill of $2,400. In fact, the median property tax bill in Wellington is notably modest, with figures ranging from $147 at the 25th percentile to $1,915 at the 90th percentile. This indicates a relatively lower tax burden for homeowners in the area. However, despite these lower rates, property taxes can still pose a financial challenge for some homeowners.
Ownwell can assist homeowners in Wellington by providing property tax appeal and exemption services, potentially reducing their tax bills. By leveraging local tax regulations and market data, Ownwell helps ensure that homeowners are not overpaying on their property taxes. This service can lead to significant savings, making homeownership more affordable and less financially burdensome.
Median Wellington Tax Bill
$411
Median Morgan County Tax Bill
$263
Median Kentucky Tax Bill
$1,031
Median United States Tax Bill
$2,400
Property Tax Bills Across Wellington, Morgan County, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 40387 | $61 | $147 | $411 | $1,072 | $1,915 |
Source: Ownwell