Miltonvale, Kansas Property Taxes
The median property tax rate in Miltonvale, KS is 2.48%, significantly higher than both the national median of 0.99% and the Kansas state median of 1.43%. With the median home value in Miltonvale at $103,790, the typical annual property tax bill reaches $2,962, exceeding the national median of $2,690. Property taxes in Miltonvale 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 Miltonvale'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 Miltonvale 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
Miltonvale, Kansas Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.43%
Estimate Property Tax Bill
$2,860
Ownwell’s Miltonvale Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Miltonvale with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Miltonvale 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 Miltonvale, Kansas
Property taxes in Miltonvale, Kansas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Miltonvale is 1.29%, higher than both the Kansas state median of 1.28% and the U.S. national median of 0.99%. Local government entities within Miltonvale set these rates annually, and they can vary significantly across different neighborhoods. Each year, Miltonvale 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 Miltonvale's effective property tax rate to other counties in Kansas and the national median. For comparison, the 67466 zip code has the highest median property tax rate of 1.29%, while the same zip code also has the lowest median tax rate of 1.29%. Understanding how these cities compare with Miltonvale provides valuable insights into the varying tax landscape across Ottawa County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Miltonvale Tax Rate
2.48%
Average Ottawa County Tax Rate
1.87%
Average Kansas Tax Rate
1.43%
Average United States Tax Rate
0.99%
Property Tax Rates Across Miltonvale, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 67466 | 1.57% | 1.79% | 2.48% | 3.49% | 4.53% |
Source: Ownwell
Property Tax Assessment Values Across Miltonvale, Kansas
In Miltonvale, 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 Ottawa 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 Miltonvale, 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. For instance, the median home price in Miltonvale is $103,790, with tax bills ranging from $1,539 at the 25th percentile to $5,149 at the 90th percentile. The highest and lowest median tax bills are both $2,962, found in the zip code 67466. 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 Miltonvale helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Miltonvale Assessed Value
$103,790
Average Ottawa County Assessed Value
$109,750
Average Kansas Assessed Value
$156,260
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Miltonvale, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 67466 | $28,000 | $57,905 | $103,790 | $159,310 | $241,922 |
Source: Ownwell
Property Tax Bills Across Miltonvale, Kansas
In Miltonvale, property tax bills are calculated based on the assessed value of a home, which is derived from its market value. The assessed value is typically a percentage of the market value, and this percentage can vary. Homeowners in Miltonvale should be aware that their property tax bills are influenced by several factors, including the local tax rate, which is determined by the county. For example, Ottawa County has a median home price of $103,790. The median property tax bill in the area is significantly influenced by the assessed value of the property and the local tax rate. The tax bill at the 25th percentile is $1,539, while at the 75th percentile, it rises to $3,454. For those at the 90th percentile, the tax bill can go up to $5,149. Compared to the national median property tax rate of 0.99%, Miltonvale's property tax rates can vary, impacting homeowners differently based on their property's assessed value. Understanding these factors can help homeowners anticipate their annual property tax obligations and manage their finances accordingly.
Average Miltonvale Tax Bill
$2,962
Average Ottawa County Tax Bill
$1,977
Average Kansas Tax Bill
$2,595
Average United States Tax Bill
$2,690
Property Tax Bills Across Miltonvale, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 67466 | $840 | $1,539 | $2,962 | $3,454 | $5,149 |
Source: Ownwell