Paola, Kansas Property Taxes
The median property tax rate in Paola, KS is 0.99%, aligning with the national median of 0.99% but significantly lower than the Kansas state median of 1.43%. With a median home value of $290,200 in Paola, the typical annual property tax bill amounts to $3,047, surpassing the national median of $2,690. Property taxes in Paola are based on the assessed value, which often falls below the market value due to exemptions like primary residence and agricultural exemptions. Understanding Paola'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 Paola or another part of Miami County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Paola, Kansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.99%
Estimate Property Tax Bill
$2,873
Ownwell’s Paola Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Paola with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Paola 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 Paola, Kansas
Property taxes in Paola, Kansas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Paola is 0.99%, which aligns with the U.S. national median of 0.99%. Local government entities within Paola set these rates annually, and they can vary significantly across different neighborhoods. Each year, Paola 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 Paola's effective property tax rate to other counties in Kansas and the national median. For comparison, the zip code 66071 has both the highest and the lowest median property tax rates at 0.99%. Understanding how these cities compare with Paola provides valuable insights into the varying tax landscape across Miami County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Paola Tax Rate
0.99%
Average Miami County Tax Rate
1.07%
Average Kansas Tax Rate
1.43%
Average United States Tax Rate
0.99%
Property Tax Rates Across Paola, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 66071 | 0.84% | 0.91% | 0.99% | 1.28% | 1.37% |
Source: Ownwell
Property Tax Assessment Values Across Paola, Kansas
In Paola, 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 Miami 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 Paola, 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 Paola helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. For instance, the highest median tax bill in zip code 66071 is $3047, while the lowest is also $3047, indicating a uniform tax scenario within this area.
Average Paola Assessed Value
$290,200
Average Miami County Assessed Value
$304,800
Average Kansas Assessed Value
$156,260
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Paola, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 66071 | $124,900 | $198,800 | $290,200 | $407,800 | $546,600 |
Source: Ownwell
Property Tax Bills Across Paola, Kansas
In Paola, located in Miami County, KS, property tax bills are determined by assessing the property's market value and applying the local tax rate. The median home price in Paola is $290,200. Once the property’s market value is established, the local tax rate is applied to calculate the annual tax bill. Factors such as property improvements, neighborhood developments, and market trends can influence the assessed value. For homeowners in Paola, property tax bills can vary significantly. At the 25th percentile, the tax bill is around $2,165, while at the 75th percentile, it rises to about $4,205. The top 10% of property tax bills reach up to $5,625. The median tax bill in the area is $3,047, which is slightly above the national median property tax rate of 0.99%. These property taxes fund essential local services such as schools, infrastructure, and public safety, directly impacting the quality of life for residents. Homeowners must stay informed about their property’s assessed value and any changes in the local tax rate to manage their financial planning effectively.
Average Paola Tax Bill
$3,047
Average Miami County Tax Bill
$3,311
Average Kansas Tax Bill
$2,595
Average United States Tax Bill
$2,690
Property Tax Bills Across Paola, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 66071 | $1,283 | $2,165 | $3,047 | $4,205 | $5,625 |
Source: Ownwell