Florida vs Kentucky
Property Tax Comparison: Florida vs. Kentucky
According to the U.S. Census Bureau's 2023 American Community Survey (5‑year estimates), the effective property‑tax rates and related metrics for Florida and Kentucky are summarized below. The data can be used to assess the relative tax burden for prospective homeowners, current owners, retirees, and other residents who consider property taxes when evaluating a move.
Side‑by‑side comparison
| Metric | Florida | Kentucky |
|---|---|---|
| Effective property‑tax rate* | 0.79 % | 0.77 % |
| Median home value | $325,000 | $192,300 |
| Median annual property tax | $2,555 | $1,472 |
| Property tax on a $250,000 home | $1,966 | $1,914 |
| Property tax on a $500,000 home | $3,931 | $3,827 |
| Median household income | $71,711 | $62,417 |
*Effective property‑tax rate = (annual property tax ÷ home value) expressed as a percentage.
*Sources: Florida property tax, Kentucky property tax.
Which state has the lower tax rate?
Based on the effective property‑tax rates, Kentucky is the lower‑tax state.
- Rate difference: 0.02 % (Florida’s 0.79 % vs. Kentucky’s 0.77 %).
- Relative difference: 2.63 % lower in Kentucky.
- Annual tax difference on a $250,000 home: $52 (Florida $1,966 – Kentucky $1,914).
- Annual tax difference on a $500,000 home: $104 (Florida $3,931 – Kentucky $3,827).
The lower rate in Kentucky translates into modest absolute savings because the median home values in the two states differ substantially.
Who is this comparison most relevant for?
| Audience | Relevance of the data |
|---|---|
| Current homeowners | Understanding how their property‑tax bill may change if they relocate between the two states. |
| Prospective homebuyers | Comparing ongoing tax costs alongside home‑price differences to gauge total housing affordability. |
| Retirees | Property taxes are a fixed‑cost component of retirement budgeting; the lower effective rate in Kentucky may be advantageous, though overall cost also depends on home value. |
| Real‑estate investors | The marginal tax difference on higher‑priced homes ($104 per $500 k) is relatively small, so investment decisions may weigh other factors (e.g., market growth, rental demand). |
| Policy analysts | The data illustrate how state‑level tax structures and home‑value distributions interact to produce different tax burdens. |
Summary
- Kentucky offers a slightly lower effective property‑tax rate (0.77 % vs. Florida’s 0.79 %).
- The absolute tax difference is modest: $52 per year on a $250 k home and $104 per year on a $500 k home.
- Because median home values are lower in Kentucky, the median annual property tax is also lower ($1,472 vs. $2,555).
Based on the most recent ACS estimates, Kentucky can be considered the “winner” in a pure property‑tax‑rate comparison. However, total housing costs also depend on home values, income levels, and other state‑specific expenses, so individual circumstances will determine which state presents the lower overall burden.
All figures are drawn from the U.S. Census Bureau’s 2023 American Community Survey (5‑year estimates). The calculations use the reported effective tax rates and median home values for each state.
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Data Source
All figures are drawn from the U.S. Census Bureau's 2023 American Community Survey (5‑year estimates). This comprehensive dataset provides reliable, standardized property tax information across all states.