Hoyt, Kansas Property Taxes
The median property tax rate in Hoyt, KS is 1.39%, slightly higher than the national median of 0.99% but just below the Kansas state median of 1.43%. With the median home value in Hoyt, the typical annual property tax bill reaches $2,302, which is below the national median of $2,690. Property taxes in Hoyt 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 Hoyt'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 Hoyt 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
Hoyt, Kansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.39%
Estimate Property Tax Bill
$2,210
Ownwell’s Hoyt Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Hoyt with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Hoyt 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 Hoyt, Kansas
Property taxes in Hoyt, Kansas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Hoyt is 1.39%, higher than both the Kansas state median and the U.S. national median of 0.99%. Local government entities within Hoyt set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hoyt 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 Hoyt's effective property tax rate to other counties in Kansas and the national median. For comparison, the 66440 zip code has both the highest and lowest median property tax rate of 1.39%. Understanding how these cities compare with Hoyt provides valuable insights into the varying tax landscape across Jackson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Hoyt Tax Rate
1.39%
Average Jackson County Tax Rate
1.48%
Average Kansas Tax Rate
1.43%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hoyt, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 66440 | 1.19% | 1.28% | 1.39% | 1.70% | 1.85% |
Source: Ownwell
Property Tax Assessment Values Across Hoyt, Kansas
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Hoyt, 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 Jackson County 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 Hoyt, 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 Hoyt helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Hoyt are both $2302 in the 66440 zip code.
Average Hoyt Assessed Value
$158,980
Average Jackson County Assessed Value
$133,885
Average Kansas Assessed Value
$156,260
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Hoyt, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 66440 | $69,840 | $113,195 | $158,980 | $214,265 | $274,970 |
Source: Ownwell
Property Tax Bills Across Hoyt, Kansas
Property tax bills in Hoyt, Jackson County, KS, are determined based on the assessed value of a property, which is a percentage of its market value. Homeowners in Hoyt can expect their tax bill to be influenced by several factors, including the local tax rate and any applicable exemptions. The median home price in Hoyt is $158,980, and property tax bills vary significantly across different percentiles. For instance, the 25th percentile tax bill is $1,601, while the 75th percentile tax bill reaches $2,875, and the 90th percentile tax bill can be as high as $3,651. When compared to the national median property tax rate of 0.99%, homeowners in Hoyt may find their tax bills relatively moderate, depending on their property's assessed value. The highest and lowest median tax bills in the area are both recorded at $2,302 in the 66440 zip code, indicating some consistency in tax assessments. These property taxes play a crucial role in funding local services and infrastructure, directly impacting the community's quality of life.
Average Hoyt Tax Bill
$2,302
Average Jackson County Tax Bill
$1,989
Average Kansas Tax Bill
$2,595
Average United States Tax Bill
$2,690
Property Tax Bills Across Hoyt, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 66440 | $950 | $1,601 | $2,302 | $2,875 | $3,651 |
Source: Ownwell