Somerset, KY — income, home value, property tax, and sales tax.
In ZIP code 42501, near Somerset, homes carry a median value of $142,200 while the county's effective property tax rate sits at 0.63%. That combination yields an annual tax bill of roughly $896. Households here bring in a median income of $48,965, and per-capita income reaches $26,563, so property taxes absorb under two percent of what a median household earns each year. A 6.00% combined sales tax applies to purchases. The relationship between home prices and earnings shapes how far a paycheck stretches for owners across this area.
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