Wayne County, Kentucky Property Taxes
Median Wayne County effective property tax rate: 0.94%, significantly lower than the national median of 1.02%.
Median Wayne County home value: $59,000
Median annual Wayne County tax bill: $420, $1,980 lower than the national median property tax bill of $2,400.
How are property taxes in Wayne County calculated?
Property taxes in Wayne 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 Monticello or another part of Wayne County, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Wayne County, Kentucky Property Tax Bill Calculator
$100,000
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Median Effective Tax Rate
0.94%
Estimate Property Tax Bill
$555
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Property Tax Rates Across Wayne County, Kentucky
Local government entities are responsible for setting property tax rates, leading to significant variations within a state. This process involves each county estimating its required budget to maintain essential services and dividing this amount by the total value of all taxable property in its jurisdiction. The result of this calculation is the property tax rate. Although the process involves votes and legal frameworks, this is the core of how property tax rates are determined annually.
If you are curious about how Wayne County's effective property tax rate compares to other counties in Kentucky or the national median, this is the place to start. Wayne County has a median property tax rate that is slightly below the national median of 1.02%. With the highest rate in nearby Nancy and the lowest in Bronston, Wayne County's rate sits comfortably in between. Understanding these differences can provide valuable insights into how property taxes may impact your financial planning and property investments.
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 Wayne County Tax Rate
0.94%
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 Kentucky Tax Rate
1.02%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Wayne County, Kentucky
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Albany | 0.48% | 0.70% | 0.94% | 0.94% | 0.94% |
| Alpha | 0.12% | 0.94% | 0.94% | 0.94% | 0.94% |
| Bronston | 0.17% | 0.36% | 0.94% | 0.94% | 0.94% |
| Monticello | 0.21% | 0.54% | 0.94% | 0.94% | 0.94% |
| Nancy | 0.59% | 0.97% | 0.97% | 0.97% | 0.97% |
Source: Ownwell
Property Tax Assessment Values Across Wayne County, Kentucky
When examining property taxes in Wayne 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 Wayne 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 Wayne 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 Wayne County.
For example, the median tax bill in Wayne County is $652, with tax bills ranging significantly across the county. Nancy has the highest median home price at $75,000.
Median Wayne County Market Value
$59,000
Median Kentucky Market Value
$110,000
Median United States Market Value
$235,294
Property Tax Assessment Values Across Wayne County, Kentucky
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Albany | $20,700 | $31,325 | $52,410 | $154,685 | $198,672 |
| Alpha | $14,000 | $24,000 | $45,000 | $75,000 | $147,854 |
| Bronston | $8,200 | $22,930 | $47,500 | $92,940 | $270,826 |
| Monticello | $10,710 | $27,000 | $57,800 | $110,000 | $191,221 |
| Nancy | $16,000 | $34,900 | $75,000 | $135,000 | $223,000 |
Source: Ownwell
Property Tax Bills Across Wayne County, Kentucky
Median Wayne County Tax Bill
$420
Median Kentucky Tax Bill
$1,031
Median United States Tax Bill
$2,400
Property Tax Bills Across Wayne County, Kentucky
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Albany | $208 | $296 | $497 | $1,175 | $1,433 |
| Alpha | $63 | $142 | $264 | $573 | $1,330 |
| Bronston | $45 | $104 | $260 | $637 | $2,078 |
| Monticello | $57 | $173 | $406 | $840 | $1,451 |
| Nancy | $132 | $278 | $652 | $1,212 | $1,967 |
Source: Ownwell