Menlo, Kansas Property Taxes
The median property tax rate in Menlo, Kansas is 1.10%, slightly higher than the national median of 0.99% but lower than the Kansas state median of 1.43%. With the median home value in Menlo, the typical annual property tax bill reaches $56, significantly below the national median of $2,690. Property taxes in Menlo 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 Menlo'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 Menlo 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
Menlo, 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 Menlo Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Menlo with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Menlo to provide an estimate of your property tax bill. This user-friendly tool helps you understand potential tax liabilities. For those interested in more detailed trends at the neighborhood level, additional localized information is available. Your property’s assessed value is the value assigned by Thomas County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Menlo, Kansas
Property taxes in Menlo, Kansas, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Menlo is 1.10%, higher than both the Kansas state median and the U.S. national median of 0.99%. Local government entities within Menlo set these rates annually, and they can vary significantly across different neighborhoods. Each year, Menlo 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 Menlo's effective property tax rate to other counties in Kansas and the national median. For comparison, the 67753 zip code has the highest median property tax rate of 1.10%, while the 67753 zip code also has the lowest median tax rate of 1.10%. Understanding how these cities compare with Menlo provides valuable insights into the varying tax landscape across Thomas County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Menlo Tax Rate
1.10%
Average Thomas County Tax Rate
1.59%
Average Kansas Tax Rate
1.43%
Average United States Tax Rate
0.99%
Property Tax Rates Across Menlo, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 67753 | 0.73% | 0.81% | 1.10% | 1.56% | 1.71% |
Source: Ownwell
Property Tax Assessment Values Across Menlo, Kansas
In Menlo, 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 Thomas 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 Menlo, 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 tax bill for the 25th percentile is $41, while the 75th percentile tax bill is $147. The highest tax bills, in the 90th percentile, can reach up to $454. 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 Menlo helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Menlo Assessed Value
$6,210
Average Thomas County Assessed Value
$124,550
Average Kansas Assessed Value
$156,260
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Menlo, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 67753 | $2,314 | $2,980 | $6,210 | $13,330 | $29,192 |
Source: Ownwell
Property Tax Bills Across Menlo, Kansas
In Menlo, located in Thomas County, KS, property tax bills are calculated based on the assessed value of the home. The assessed value is determined by the local tax assessor and typically represents a percentage of the market value of the property. In Menlo, the median home price stands at $6,210, which is notably lower than the national median. Homeowners in Menlo can expect their property tax bills to vary significantly. For instance, those in the 25th percentile pay around $41 annually, while those in the 75th percentile face a tax bill of approximately $147. At the higher end, the 90th percentile sees tax bills reaching up to $454. These property taxes fund essential public services such as schools, infrastructure, and emergency services, directly impacting the quality of life in the community. Compared to the national median property tax rate of 0.99%, Menlo's property taxes are relatively low, offering some financial relief to homeowners in the area.
Average Menlo Tax Bill
$56
Average Thomas County Tax Bill
$1,936
Average Kansas Tax Bill
$2,595
Average United States Tax Bill
$2,690
Property Tax Bills Across Menlo, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 67753 | $24 | $41 | $56 | $147 | $454 |
Source: Ownwell