Somerset, KY — income, home value, property tax, and sales tax.
Homes in the 42553 ZIP code, around Somerset, carry a median value of $154,500, and the county's 0.63% effective property tax rate works out to roughly $973 a year on a home at that price. With median household income at $52,737 and per-capita income of $29,557, that tax bill takes up a little under two percent of a household's annual earnings. Sales tax across the area sits at 6.00%. Buyers here face a housing market where prices stay within reach of local paychecks, and the property tax drawn on those homes stays proportionate to what people earn.
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