Palmer, Kansas Property Taxes
The median property tax rate in Palmer, Kansas is 0.92%, which is lower than both the national median of 0.99% and the Kansas state median of 1.43%. With the median home value in Palmer, the typical annual property tax bill reaches $1,065, significantly below the national median of $2,690. Property taxes in Palmer are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as the primary residence and agricultural exemptions. Understanding Palmer's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Palmer 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
Palmer, Kansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.92%
Estimate Property Tax Bill
$1,231
Ownwell’s Palmer Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Palmer with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Palmer 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 Palmer, Kansas
Property taxes in Palmer, Kansas, play a crucial role in funding essential local services, including public schools, road maintenance, and emergency services. The median tax rate in Palmer is 0.92%, slightly below the U.S. national median of 0.99%. Local government entities within Palmer set these rates annually, and they can vary significantly across different neighborhoods. Each year, Palmer 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 Palmer's effective property tax rate to other areas in Washington County and the national median. For comparison, the zip code 66962 has both the highest and lowest median property tax rate of 0.92%. Understanding how these areas compare with Palmer provides valuable insights into the varying tax landscape across Washington County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Palmer Tax Rate
0.92%
Average Washington County Tax Rate
1.08%
Average Kansas Tax Rate
1.43%
Average United States Tax Rate
0.99%
Property Tax Rates Across Palmer, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 66962 | 0.42% | 0.63% | 0.92% | 1.26% | 1.70% |
Source: Ownwell
Property Tax Assessment Values Across Palmer, Kansas
In Palmer, 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 Washington 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 Palmer, 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 Palmer helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 66962 has both the highest and lowest median tax bill, valued at $1,065.
Average Palmer Assessed Value
$133,760
Average Washington County Assessed Value
$82,220
Average Kansas Assessed Value
$156,260
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Palmer, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 66962 | $24,992 | $68,040 | $133,760 | $220,340 | $420,558 |
Source: Ownwell
Property Tax Bills Across Palmer, Kansas
In Palmer, Washington County, KS, property tax bills are calculated based on the assessed value of a home, which is derived from its market value. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. For instance, with a median home price of $133,760, homeowners can expect their tax bills to vary significantly. The 25th percentile tax bill is around $530, while the 75th percentile reaches approximately $1,973. At the upper end, the 90th percentile tax bill can be as high as $2,595. Several factors influence the tax bill, including property size, location, and any applicable exemptions. This variability can significantly impact homeowners, as those with higher-valued properties or fewer exemptions will face heftier tax bills. Compared to the national median property tax rate of 0.99%, the tax rates in Palmer can result in substantial differences in annual expenses for homeowners, making it crucial for them to understand how these factors affect their specific tax obligations.
Average Palmer Tax Bill
$1,065
Average Washington County Tax Bill
$749
Average Kansas Tax Bill
$2,595
Average United States Tax Bill
$2,690
Property Tax Bills Across Palmer, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 66962 | $163 | $530 | $1,065 | $1,973 | $2,595 |
Source: Ownwell