Tescott, Kansas Property Taxes
The median property tax rate in Tescott, KS is 1.93%, considerably higher than both the national median of 0.99% and the Kansas state median of 1.43%. With the median home value in Tescott at $80,620, the typical annual property tax bill reaches $1,506, which is below the national median of $2,690. Property taxes in Tescott 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 Tescott'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 Tescott 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
Tescott, Kansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.93%
Estimate Property Tax Bill
$1,556
Ownwell’s Tescott Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Tescott with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Tescott 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 Tescott, Kansas
Property taxes in Tescott, Kansas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Tescott is 1.93%, significantly higher than both the Kansas state median and the U.S. national median of 0.99%. Local government entities within Tescott set these rates annually, and they can vary significantly across different neighborhoods. Each year, Tescott 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 Tescott's effective property tax rate to other counties in Kansas and the national median. For comparison, the zip code 67484 has the highest median property tax rate of 1.93%, while the same zip code also has the lowest median tax rate of 1.93%. Understanding how these cities compare with Tescott 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 Tescott Tax Rate
1.93%
Average Ottawa County Tax Rate
1.87%
Average Kansas Tax Rate
1.43%
Average United States Tax Rate
0.99%
Property Tax Rates Across Tescott, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 67484 | 1.53% | 1.74% | 1.93% | 2.20% | 3.71% |
Source: Ownwell
Property Tax Assessment Values Across Tescott, Kansas
In Tescott, 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 Tescott, 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 Tescott helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code 67484 has the highest and lowest median tax bill at $1,506.
Average Tescott Assessed Value
$80,620
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 Tescott, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 67484 | $3,264 | $34,698 | $80,620 | $145,010 | $214,780 |
Source: Ownwell
Property Tax Bills Across Tescott, Kansas
In Tescott, located in Ottawa County, KS, property tax bills are calculated based on the assessed value of a property, which is a percentage of its market value. The county assessor determines this value, and the local tax rate is then applied to it. For instance, with a median home price of $80,620, homeowners can expect varying tax bills. The 25th percentile tax bill is $659, while the 75th percentile reaches $2,551, and the 90th percentile can be as high as $4,297. These figures reflect the range of property taxes that homeowners might encounter, influenced by factors such as property size, location, and improvements. Compared to the national median property tax rate of 0.99%, Tescott's rates can significantly impact homeowners, potentially making property ownership more costly depending on the specific assessed value and tax rate applied. Understanding these elements is crucial for homeowners to anticipate their annual tax liabilities accurately.
Average Tescott Tax Bill
$1,506
Average Ottawa County Tax Bill
$1,977
Average Kansas Tax Bill
$2,595
Average United States Tax Bill
$2,690
Property Tax Bills Across Tescott, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 67484 | $147 | $659 | $1,506 | $2,551 | $4,297 |
Source: Ownwell