Montezuma, Kansas Property Taxes
The median property tax rate in Montezuma, KS is 1.76%, significantly higher than both the national median of 0.99% and the Kansas state median of 1.43%. With a median home value of $162,570 in Montezuma, the typical annual property tax bill reaches $3,302, surpassing the national median of $2,690. Property taxes in Montezuma are calculated based on the tax assessed value, which often falls below the market value due to exemptions such as primary residence and agricultural exemptions. Understanding Montezuma'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 Montezuma 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
Montezuma, Kansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.76%
Estimate Property Tax Bill
$2,861
Ownwell’s Montezuma Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Montezuma with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Montezuma 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 Montezuma, Kansas
Property taxes in Montezuma, Kansas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Montezuma is 1.76%, significantly higher than the U.S. national median of 0.99%. Local government entities within Montezuma set these rates annually, and they can vary across different neighborhoods. Each year, Montezuma 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 Montezuma's effective property tax rate to other counties in Kansas and the national median. For comparison, the zip code 67867 has the highest median property tax rate of 1.76%, while the lowest median tax rate is also 1.76%. Understanding how these cities compare with Montezuma provides valuable insights into the varying tax landscape across Meade County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Montezuma Tax Rate
1.76%
Average Meade County Tax Rate
2.01%
Average Kansas Tax Rate
1.43%
Average United States Tax Rate
0.99%
Property Tax Rates Across Montezuma, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 67867 | 1.49% | 1.56% | 1.76% | 2.90% | 4.39% |
Source: Ownwell
Property Tax Assessment Values Across Montezuma, Kansas
In Montezuma, 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 Meade 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 Montezuma, 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 Montezuma helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill is 67867, amounting to $3,302.
Average Montezuma Assessed Value
$162,570
Average Meade County Assessed Value
$68,450
Average Kansas Assessed Value
$156,260
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Montezuma, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 67867 | $63,935 | $106,325 | $162,570 | $195,628 | $285,420 |
Source: Ownwell
Property Tax Bills Across Montezuma, Kansas
In Montezuma, Meade County, KS, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is a percentage of the market value of the property, determined by county assessors. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. For instance, with a median home price of $162,570, homeowners can expect varying tax bills depending on their property's specific assessed value and applicable tax rate. Factors such as property improvements, neighborhood changes, and overall market trends can influence the assessed value. Homeowners in Montezuma may receive tax bills ranging from the 25th percentile at $1,954 to the 75th percentile at $4,944, with the 90th percentile reaching up to $6,755. Compared to the national median property tax rate of 0.99%, these figures highlight the variability in property tax obligations. Understanding these factors can help homeowners anticipate their annual tax responsibilities and plan accordingly.
Average Montezuma Tax Bill
$3,302
Average Meade County Tax Bill
$1,357
Average Kansas Tax Bill
$2,595
Average United States Tax Bill
$2,690
Property Tax Bills Across Montezuma, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 67867 | $1,634 | $1,954 | $3,302 | $4,944 | $6,755 |
Source: Ownwell