Raymond, Kansas Property Taxes
The median property tax rate in Raymond, KS is 1.14%, which is higher than the national median of 0.99% but lower than the Kansas state median of 1.43%. With the median home value in Raymond, the typical annual property tax bill reaches $502, significantly below the national median of $2,690. Property taxes in Raymond are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Raymond'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 Raymond 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
Raymond, Kansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.14%
Estimate Property Tax Bill
$429
Ownwell’s Raymond Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Raymond with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Raymond 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 Raymond, Kansas
Property taxes in Raymond, Kansas, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Raymond is 1.14%, higher than both the Kansas state median and the U.S. national median of 0.99%. Local government entities within Raymond set these rates annually, and they can vary significantly across different neighborhoods. Each year, Raymond 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 Raymond's effective property tax rate to other counties in Kansas and the national median. For comparison, the 67573 zip code has the highest median property tax rate of 1.14%, while the same zip code also has the lowest median tax rate of 1.14%. Understanding how these cities compare with Raymond provides valuable insights into the varying tax landscape across Rice County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Raymond Tax Rate
1.14%
Average Rice County Tax Rate
1.62%
Average Kansas Tax Rate
1.43%
Average United States Tax Rate
0.99%
Property Tax Rates Across Raymond, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 67573 | 0.84% | 1.00% | 1.14% | 1.32% | 1.84% |
Source: Ownwell
Property Tax Assessment Values Across Raymond, Kansas
In Raymond, 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 Rice 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 Raymond, 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 Raymond helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Raymond is $502 in the 67573 zip code, which contrasts the national median property tax rate of 0.99%.
Average Raymond Assessed Value
$37,590
Average Rice County Assessed Value
$67,595
Average Kansas Assessed Value
$156,260
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Raymond, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 67573 | $2,780 | $13,385 | $37,590 | $87,565 | $193,248 |
Source: Ownwell
Property Tax Bills Across Raymond, Kansas
In Raymond, located in Rice County, KS, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is derived from a percentage of the market value of the property. For instance, if the median home price in Raymond is $37,590, the assessed value is determined by applying the county's assessment ratio to this market price. Once the assessed value is established, the local tax rate is applied to calculate the property tax bill. Various factors influence the tax bill, including property location, home size, and any applicable exemptions. Homeowners in Raymond can expect their property tax bills to vary significantly. For example, the tax bill at the 25th percentile is $147, while at the 75th percentile, it reaches $1,195. At the 90th percentile, it can go as high as $2,721. These taxes directly impact homeowners by affecting their annual financial obligations and potentially influencing their decisions on property investments and home improvements.
Average Raymond Tax Bill
$502
Average Rice County Tax Bill
$1,047
Average Kansas Tax Bill
$2,595
Average United States Tax Bill
$2,690
Property Tax Bills Across Raymond, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 67573 | $31 | $147 | $502 | $1,195 | $2,721 |
Source: Ownwell