Milton, Kansas Property Taxes
The median property tax rate in Milton, Kansas is 1.20%, which is higher than both the national median of 0.99% and the Kansas state median of 1.43%. With the median home value in Milton at $183,425, the typical annual property tax bill reaches $2,083, falling below the national median of $2,690. Property taxes in Milton 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 Milton'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 Milton 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
Milton, Kansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.2%
Estimate Property Tax Bill
$2,201
Ownwell’s Milton Property Tax Bill Calculator is an invaluable tool for homeowners, real estate investors, and potential buyers aiming to estimate their annual property taxes in Milton. By simply entering your property's estimated assessed value, the calculator uses the median tax rate in Milton to provide an accurate estimate of your property tax bill. This powerful tool helps you gain a clear understanding of potential tax liabilities, ensuring you are well-prepared for any financial commitments. For those interested in more detailed trends at the neighborhood level, additional localized information is available by scrolling down. Your property’s assessed value, determined by the county, plays a crucial role in these calculations and includes any applicable exemptions.
Property Tax Rates Across Milton, Kansas
Property taxes in Milton, Kansas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Milton is 1.20%, higher than both the Kansas state median and the U.S. national median of 0.99%. Local government entities within Milton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Milton 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 Milton's effective property tax rate to other counties in Kansas and the national median. For comparison, the 67106 zip code has the highest median property tax rate of 1.20%, while the 67106 zip code also has the lowest median tax rate of 1.20%. Understanding how these cities compare with Milton 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 Milton Tax Rate
1.20%
Average Sedgwick County Tax Rate
1.29%
Average Kansas Tax Rate
1.43%
Average United States Tax Rate
0.99%
Property Tax Rates Across Milton, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 67106 | 1.16% | 1.19% | 1.20% | 1.22% | 1.23% |
Source: Ownwell
Property Tax Assessment Values Across Milton, Kansas
In Milton, 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 Milton, 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 Milton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill is 67106, with a median tax bill of $2,083.
Average Milton Assessed Value
$183,425
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 Milton, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 67106 | $152,303 | $160,100 | $183,425 | $287,250 | $454,335 |
Source: Ownwell
Property Tax Bills Across Milton, Kansas
In Milton, Sedgwick County, KS, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The assessed value is then multiplied by the local property tax rate to determine the annual tax bill. For instance, with a median home price of $183,425, homeowners can expect varying tax bills depending on their property's assessed value and specific circumstances. Several factors influence the final tax bill, including the property's location, any applicable exemptions, and the specific tax rate in the area. For Milton, the tax bill can range significantly, with the 25th percentile at $1,913 and the 75th percentile reaching up to $3,499. The top 10% of tax bills can be as high as $5,583. These property taxes play a crucial role in funding local services such as schools, infrastructure, and public safety. Homeowners in Milton need to be aware of their assessed property values and any potential exemptions to manage their annual tax responsibilities effectively.
Average Milton Tax Bill
$2,083
Average Sedgwick County Tax Bill
$1,835
Average Kansas Tax Bill
$2,595
Average United States Tax Bill
$2,690
Property Tax Bills Across Milton, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 67106 | $1,816 | $1,913 | $2,083 | $3,499 | $5,583 |
Source: Ownwell