Benton, Kansas Property Taxes
The median property tax rate in Benton, KS is 1.39%, considerably higher than the national median of 0.99% but slightly lower than the Kansas state median of 1.43%. With a median home value of $455,970 in Benton, the typical annual property tax bill reaches $6,322, significantly exceeding the national median of $2,690. Property taxes in Benton 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 Benton’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 Benton 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
Benton, Kansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.39%
Estimate Property Tax Bill
$6,338
Ownwell’s Benton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Benton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Benton 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 Benton, Kansas
Property taxes in Benton, Kansas, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Benton is 1.39%, significantly higher than the U.S. national median of 0.99%. Local government entities within Benton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Benton 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 Benton's effective property tax rate to other areas in Kansas and the national median. For comparison, the 67017 zip code has the highest median property tax rate of 1.39%, while the lowest median tax rate is also 1.39% in the same zip code. Understanding how these cities compare with Benton provides valuable insights into the varying tax landscape across Sedgwick County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Benton Tax Rate
1.39%
Average Sedgwick County Tax Rate
1.29%
Average Kansas Tax Rate
1.43%
Average United States Tax Rate
0.99%
Property Tax Rates Across Benton, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 67017 | 1.26% | 1.37% | 1.39% | 1.39% | 1.39% |
Source: Ownwell
Property Tax Assessment Values Across Benton, Kansas
In Benton, 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 Sedgwick 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 Benton, 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 Benton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Benton is $6322 in the 67017 zip code, while the lowest median tax bill is also $6322 in the same zip code.
Average Benton Assessed Value
$455,970
Average Sedgwick County Assessed Value
$135,800
Average Kansas Assessed Value
$156,260
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Benton, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 67017 | $76,305 | $189,338 | $455,970 | $520,642 | $581,898 |
Source: Ownwell
Property Tax Bills Across Benton, Kansas
In Benton, Sedgwick 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 assessed value, considering factors such as property size, location, and condition. The local tax rate is then applied to the assessed value to calculate the tax bill. For instance, with a median home price of $455,970, homeowners can expect varying tax bills. The 25th percentile tax bill is around $2,480, while the 75th percentile reaches up to $7,231. At the 90th percentile, tax bills can soar to $8,092. These values highlight significant variability, influenced by property characteristics and local tax rates. Compared to the national median property tax rate of 0.99%, Benton's tax implications can be substantial for homeowners, affecting their annual financial planning. Understanding these factors is crucial for homeowners to anticipate and manage their property tax obligations effectively.
Average Benton Tax Bill
$6,322
Average Sedgwick County Tax Bill
$1,835
Average Kansas Tax Bill
$2,595
Average United States Tax Bill
$2,690
Property Tax Bills Across Benton, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 67017 | $954 | $2,480 | $6,322 | $7,231 | $8,092 |
Source: Ownwell