Oakley, Kansas Property Taxes
The median property tax rate in Oakley, Kansas is 1.98%, considerably higher than both the national median of 0.99% and the Kansas state median of 1.43%. With the median home value in Oakley at $85,310, the typical annual property tax bill reaches $1,653, which is still below the national median of $2,690. Property taxes in Oakley are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Oakley'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 Oakley 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
Oakley, Kansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.98%
Estimate Property Tax Bill
$1,689
Ownwell’s Oakley Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Oakley with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Oakley 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 Oakley, Kansas
Property taxes in Oakley, Kansas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Oakley is 1.98%, significantly higher than both the Kansas state median and the U.S. national median of 0.99%. Local government entities within Oakley set these rates annually, and they can vary significantly across different neighborhoods. Each year, Oakley 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 Oakley's effective property tax rate to other counties in Kansas and the national median. For comparison, the 67748 zip code has both the highest and lowest median property tax rate of 1.98%. Understanding how these areas compare with Oakley provides valuable insights into the varying tax landscape across Gove County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Oakley Tax Rate
1.98%
Average Gove County Tax Rate
1.81%
Average Kansas Tax Rate
1.43%
Average United States Tax Rate
0.99%
Property Tax Rates Across Oakley, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 67748 | 1.14% | 1.40% | 1.98% | 2.65% | 3.64% |
Source: Ownwell
Property Tax Assessment Values Across Oakley, Kansas
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Oakley, Kansas. 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 Oakley, 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. For instance, the median home price in Oakley is $85,310, with annual tax bills ranging from $919 at the 25th percentile to $3,796 at the 90th percentile. The zip code 67748 has both the highest and lowest median tax bill at $1,653. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Oakley Assessed Value
$85,310
Average Gove County Assessed Value
$74,990
Average Kansas Assessed Value
$156,260
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Oakley, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 67748 | $35,420 | $52,510 | $85,310 | $129,435 | $242,148 |
Source: Ownwell
Property Tax Bills Across Oakley, Kansas
In Oakley, property tax bills are calculated based on the assessed value of the property, which is determined by the local assessor's office. This assessed value is a percentage of the property's market value. For instance, if the median home price in Oakley is $85,310, this figure will be used to calculate the assessed value. The local property tax rate is then applied to this assessed value to determine the annual property tax bill. The property tax rate in Oakley is influenced by various factors, including local government budgets, school district funding, and public services. Homeowners in Oakley can expect their property tax bills to vary significantly. For example, tax bills at the 25th percentile are around $919, while those at the 75th percentile can reach $2,770, and the highest tax bills, at the 90th percentile, can be as much as $3,796. These property taxes play a crucial role in funding essential community services, such as education, public safety, and infrastructure, directly impacting the quality of life for Oakley residents.
Average Oakley Tax Bill
$1,653
Average Gove County Tax Bill
$1,267
Average Kansas Tax Bill
$2,595
Average United States Tax Bill
$2,690
Property Tax Bills Across Oakley, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 67748 | $666 | $919 | $1,653 | $2,770 | $3,796 |
Source: Ownwell