Lexington, Woodford County, Kentucky Property Taxes

$774 avg. annual savings

No Upfront Costs

You only pay if we save

Property Taxes in Lexington, Kentucky

Median Lexington, Kentucky effective property tax rate: 1.02%, significantly lower than the national median of 1.02%, and lower than the Kentucky state median of 1.02%.
Median Lexington, Kentucky home value: $575,000
Median annual Lexington, Kentucky tax bill: $5,872, $3,472 higher than the national median property tax bill of $2,400.

How are property taxes in Woodford calculated?

Property taxes in Lexington, 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 Lexington's property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Lexington, knowing local tax details benefits homeowners and investors.

Last Updated April 13, 2026

Lexington, Woodford County, Kentucky Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

1.02%

Estimate Property Tax Bill

$5,865

$5,443

How Does the Lexington Property Tax Calculator Work?

Use this Lexington property tax calculator to estimate your annual property tax bill. Enter your property's assessed value and our calculator applies Lexington's median effective tax rate of 1.02% — based on actual property records in Woodford County — to generate your estimate.

Enter your property's estimated assessed value — the figure the local appraisal district uses to calculate your bill, which reflects any exemptions you hold and is typically lower than your home's market value. Our calculator applies Lexington'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 Lexington: rates range from local differences in school district levies and assessment districts, which can change your final tax amount.

For a more precise estimate, scroll down to explore ZIP code-level tax rate trends across Lexington.

About Lexington Property Taxes

About Property Taxes in Lexington, Woodford, Kentucky

Lexington’s median effective property tax rate of 1.02% is lower than the Kentucky state median of 1.02% and lower than the national median of 1.02%. This rate reflects the Woodford 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 Lexington. Homeowners in the highest ZIP code carry a median effective rate of 1.02%, while those in the lowest ZIP code pay 1.02%. This spread reflects how school district boundaries and local assessment districts are drawn across Woodford County. Understanding which part of Lexington you live in can make a meaningful difference to your annual tax bill.

Lexington homeowners who believe their assessed value is too high can file a formal appeal with the local Tax Assessor before the May 18, 2026 deadline each year.

If your estimated bill above 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 Lexington, Woodford 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 Lexington's effective property tax rate to other cities in Kentucky and the median property tax rates in Kentucky and the U.S.

Property Tax Rates Across Lexington, Woodford County, Kentucky

Source: Ownwell

0.97%

1.00%

1.04%

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 Lexington Tax Rate

1.02%

Median Effective Woodford County Tax Rate

0.98%

Median Effective Kentucky Tax Rate

1.02%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Lexington, Woodford County, Kentucky

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
40513	N/A	N/A	N/A	N/A	N/A

Source: Ownwell

Property Tax Assessment Values Across Lexington, Woodford County, Kentucky

When examining property taxes in Lexington, 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 Woodford County property tax system 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 Woodford County, assessment notices are sent in the spring each year. They'll typically reach your mailbox by the middle of the spring notice period.

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 Lexington.

For example, the median home price in Lexington is $575,000, with tax bills ranging significantly across the county. The median tax bill is $5,872, which is well above the national median property tax bill of $2,400.

Property Tax Assessment Values Across Lexington, Woodford County, Kentucky

Source: Ownwell

$130,000

$174,000

$218,000

Median Lexington Market Value

$575,000

Median Woodford County Market Value

$212,000

Median Kentucky Market Value

$116,000

Median United States Market Value

$235,294

Property Tax Assessment Values Across Lexington, Woodford County, Kentucky

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
40513	N/A	N/A	N/A	N/A	N/A

Source: Ownwell

Property Tax Bills Across Lexington, Woodford County, Kentucky

How Are Property Tax Bills Calculated in Lexington?

Property tax bills in Lexington are based on the assessed value of a home and the local tax rate set by taxing authorities in Woodford County. The assessed value is compared with the market value, and that figure is used to determine how much tax a homeowner owes. For many homeowners, the bill reflects both the value of the property and the services funded by local taxes.

With a median home price of $575,000, Lexington homeowners face property tax bills that are notably higher than the national median property tax bill of $2,400. The typical property tax bill in the area is $5,872, which is also the 25th, 75th, and 90th percentile, showing how consistently high bills are across the city.

Because property taxes are tied to home value, changes in the market can affect what homeowners pay each year.

Property Tax Bills Across Lexington, Woodford County, Kentucky

Source: Ownwell

$1,207

$1,631

$2,055

Median Lexington Tax Bill

$5,872

Median Woodford County Tax Bill

$1,994

Median Kentucky Tax Bill

$1,071

Median United States Tax Bill

$2,400

Property Tax Bills Across Lexington, Woodford County, Kentucky

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
40513	N/A	N/A	N/A	N/A	N/A

Source: Ownwell

Don't miss the deadline to appeal!

Dates
Appeal Deadline	May 18

Links
Woodford Tax Assessor
Website	qpublic.schneidercorp.com

Frequently Asked Property Tax Questions in Lexington, Kentucky

How are property taxes calculated in Lexington, Kentucky?

Property taxes in Lexington, Kentucky are calculated by multiplying your property's assessed value by the applicable tax rate set by local taxing authorities. The assessed value is determined by the county assessor and may differ from your property's market value depending on local assessment ratios and exemptions.

How do I appeal my property taxes in Lexington, Kentucky?

To appeal your property taxes in Lexington, Kentucky, you typically need to file a formal protest or appeal with your local appraisal district or assessor's office by the stated deadline. You'll need evidence such as comparable sales, a recent independent appraisal, or documentation of property condition issues. Ownwell can handle this entire process for you.

What property tax exemptions are available in Lexington, Kentucky?

Common property tax exemptions in Lexington, Kentucky include homestead exemptions for primary residences, senior citizen exemptions, veteran exemptions, and disability exemptions. Exemption amounts and eligibility requirements vary by county. Contact your local appraisal district or check Ownwell for details specific to your property.

When are property taxes due in Lexington, Kentucky?

Property tax deadlines in Lexington, Kentucky vary by county but typically include an assessment notice period in spring or early summer, followed by an appeal deadline, and a tax payment due date in the fall or winter. Check with your county assessor's office for specific dates in your area.

How can Ownwell help reduce my property taxes in Lexington, Kentucky?

Ownwell provides professional property tax appeal services in Lexington, Kentucky. Our team analyzes your assessment, gathers evidence, files all paperwork, and represents you at hearings — all with no upfront cost. You only pay a percentage of your savings if we successfully lower your tax bill.