Morganville, Kansas Property Taxes
The median property tax rate in Morganville, KS is 0.90%, which is lower than both the national median of 0.99% and the Kansas state median of 1.43%. With a median home value of $61,700 in Morganville, the typical annual property tax bill is $284, significantly below the national median of $2,690. Property taxes in Morganville are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Morganville's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Morganville or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Morganville, Kansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.9%
Estimate Property Tax Bill
$555
Ownwell’s Morganville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Morganville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Morganville to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Morganville, Kansas
Property taxes in Morganville, Kansas, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Morganville is 1.12%, significantly higher than both the Kansas state median of 1.37% and the U.S. national median of 0.99%. Local government entities within Morganville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Morganville estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Morganville's effective property tax rate to other counties in Kansas and the national median. For comparison, the 67468 zip code has the highest median property tax rate of 1.12%, while the same zip code also has the lowest median tax rate of 1.12%. Understanding how these cities compare with Morganville provides valuable insights into the varying tax landscape across Clay County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Morganville Tax Rate
0.90%
Average Clay County Tax Rate
1.86%
Average Kansas Tax Rate
1.43%
Average United States Tax Rate
0.99%
Property Tax Rates Across Morganville, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 67468 | 0.90% | 0.90% | 0.90% | 0.90% | 0.90% |
Source: Ownwell
Property Tax Assessment Values Across Morganville, Kansas
In Morganville, Kansas, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the local appraisal district for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In Morganville, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these valuation processes in Morganville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 67468 has both the highest and lowest median tax bills, each at $284, offering a uniform tax expectation across the area.
Average Morganville Assessed Value
$61,700
Average Clay County Assessed Value
$92,400
Average Kansas Assessed Value
$156,260
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Morganville, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 67468 | $5,968 | $26,900 | $61,700 | $119,840 | $196,594 |
Source: Ownwell
Property Tax Bills Across Morganville, Kansas
In Morganville, property tax bills are determined based on the assessed value of your home, which is a percentage of the market value. For instance, with a median home price of $61,700, the assessed value is calculated using the state's assessment ratio. The property tax rate is then applied to this assessed value to determine your tax bill. In Morganville, homeowners typically see tax bills around $284, which is consistent across various percentiles, including the 25th, 75th, and 90th. This uniformity in tax bills suggests a relatively stable and predictable tax environment for homeowners. Compared to the national median property tax rate of 0.99%, Morganville offers a more straightforward and manageable tax structure. Understanding how these factors interplay can help homeowners budget more effectively and anticipate their annual property tax obligations. This stability in property tax bills can be a significant factor for those considering homeownership in Morganville, making it an attractive location for potential buyers.
Average Morganville Tax Bill
$284
Average Clay County Tax Bill
$611
Average Kansas Tax Bill
$2,595
Average United States Tax Bill
$2,690
Property Tax Bills Across Morganville, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 67468 | $284 | $284 | $284 | $284 | $284 |
Source: Ownwell