Versailles, Woodford County, Kentucky Property Taxes
Property Taxes in Versailles, Kentucky
Median Versailles, Kentucky effective property tax rate: 0.98%, significantly lower than the national median of 1.02%, and lower than the Kentucky state median of 1.02%.
Median Versailles, Kentucky home value: $218,000
Median annual Versailles, Kentucky tax bill: $2,055, lower than the national median property tax bill of $2,400.
How are property taxes in Woodford calculated?
Property taxes in Versailles, 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 Versailles's property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Versailles, knowing local tax details benefits homeowners and investors.
Last Updated April 13, 2026
Versailles, Woodford County, Kentucky Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.98%
Estimate Property Tax Bill
$2,136
$1,983
How Does the Versailles Property Tax Calculator Work?
Use this Versailles property tax calculator to estimate your annual property tax bill. Enter your property's assessed value and our calculator applies Versailles's median effective tax rate of 0.98% — 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 Versailles'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 Versailles: rates range from 0.98% in 40383 to 0.98% in 40383, 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 Versailles.
About Versailles Property Taxes
About Property Taxes in Versailles, Woodford, Kentucky
Versailles’s median effective property tax rate of 0.98% 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 Versailles. Homeowners in the 40383 ZIP code carry a median effective rate of 0.98%, while those in 40383 pay 0.98%. This spread — 0.00 percentage points across the same city — reflects how school district boundaries and local assessment districts are drawn across Woodford County. Understanding which part of Versailles you live in can make a meaningful difference to your annual tax bill.
Versailles 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 Versailles, 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 Versailles'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 Versailles Tax Rate
0.98%
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 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 Versailles, Woodford County, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 40383 | 0.79% | 0.87% | 0.98% | 1.03% | 1.05% |
| 40390 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
Property Tax Assessment Values Across Versailles, Woodford County, Kentucky
When examining property taxes in Versailles, 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 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 Woodford County, assessment notices are sent in the spring each year. They'll typically reach your mailbox by the middle of May.
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. For example, the median home price in Versailles is $218,000, with tax bills ranging significantly across the county. 40383 has the highest median home price at $218,000.
Property Tax Assessment Values Across Versailles, Woodford County, Kentucky
Source: Ownwell
$130,000
$174,000
$218,000
Median Versailles Market Value
$218,000
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 Versailles, Woodford County, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 40383 | $95,000 | $150,000 | $218,000 | $313,000 | $415,000 |
| 40390 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
Property Tax Bills Across Versailles, Woodford County, Kentucky
Property tax bills in Versailles are based on the assessed value of a home and the local tax rate set for Woodford County. When a property’s market value changes, the assessed value can change too, which can raise or lower the tax bill. Homeowners are taxed on the value of their property rather than on what they paid for it, so two similar homes can have different bills if their assessments differ.
For a home with a median home price of $218,000, the property tax bill can vary widely depending on the assessment and exemptions applied. In Versailles, the 25th percentile tax bill is $1,402, while the 75th percentile is $2,994 and the 90th percentile reaches $4,034. The median tax bill is $2,055, which is below the national median property tax bill of $2,400. These bills affect homeowners by influencing monthly housing costs and long-term affordability.
Median Versailles Tax Bill
$2,055
Median Woodford County Tax Bill
$1,994
Median Kentucky Tax Bill
$1,071
Median United States Tax Bill
$2,400
Property Tax Bills Across Versailles, Woodford County, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 40383 | $859 | $1,402 | $2,055 | $2,994 | $4,034 |
| 40390 | 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 |