Florence, Kansas Property Taxes
The median property tax rate in Florence, KS is 2.40%, significantly higher than both the national median of 0.99% and the Kansas state median of 1.43%. With the median home value in Florence, the typical annual property tax bill reaches $694, which is below the national median of $2,690. Property taxes in Florence 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 Florence'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 Florence 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
Florence, Kansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.4%
Estimate Property Tax Bill
$714
Ownwell’s Florence Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Florence with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Florence 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 Florence, Kansas
Property taxes in Florence, Kansas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Florence is 2.40%, significantly higher than both the Kansas state median and the U.S. national median of 0.99%. Local government entities within Florence set these rates annually, and they can vary significantly across different neighborhoods. Each year, Florence 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 Florence's effective property tax rate to other counties in Kansas and the national median. For comparison, the 66851 zip code has the highest median property tax rate of 2.40%, while the 66851 zip code also has the lowest median tax rate of 2.40%. Understanding how these cities compare with Florence provides valuable insights into the varying tax landscape across Marion County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Florence Tax Rate
2.40%
Average Marion County Tax Rate
2.06%
Average Kansas Tax Rate
1.43%
Average United States Tax Rate
0.99%
Property Tax Rates Across Florence, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 66851 | 1.85% | 2.23% | 2.40% | 2.72% | 3.74% |
Source: Ownwell
Property Tax Assessment Values Across Florence, Kansas
In Florence, 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 Marion 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 Florence, 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 Florence helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Florence are both $694.00, found in zip code 66851.
Average Florence Assessed Value
$29,735
Average Marion County Assessed Value
$76,800
Average Kansas Assessed Value
$156,260
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Florence, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 66851 | $1,995 | $11,362 | $29,735 | $53,775 | $114,165 |
Source: Ownwell
Property Tax Bills Across Florence, Kansas
In Florence, located in Marion County, KS, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The median home price in Florence is $29,735. The assessed value is then multiplied by the local tax rate to determine the tax bill. Various factors such as property size, location, and improvements can influence the assessed value. For homeowners in Florence, the tax bill can vary significantly. The 25th percentile tax bill is $321, while the 75th percentile tax bill is $1,132, and the 90th percentile tax bill reaches $2,292. These variations are reflective of differences in property values and specific assessments. The highest and lowest median tax bills in the area both stand at $694, highlighting some consistency within certain neighborhoods. Understanding how these factors interplay is crucial for homeowners as property taxes directly impact their annual expenses. Comparing this to the national median property tax rate of 0.99%, Florence's tax rates and bills offer a unique perspective on local property taxation.
Average Florence Tax Bill
$694
Average Marion County Tax Bill
$1,500
Average Kansas Tax Bill
$2,595
Average United States Tax Bill
$2,690
Property Tax Bills Across Florence, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 66851 | $103 | $321 | $694 | $1,132 | $2,292 |
Source: Ownwell