Valley Falls, Kansas Property Taxes
The median property tax rate in Valley Falls, KS is 1.53%, considerably higher than both the national median of 0.99% and the Kansas state median of 1.43%. With the median home value in Valley Falls, the typical annual property tax bill reaches $1,331, exceeding the national median of $2,690. Property taxes in Valley Falls 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 Valley Falls' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Valley Falls 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
Valley Falls, Kansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.53%
Estimate Property Tax Bill
$1,349
Ownwell’s Valley Falls Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Valley Falls with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Valley Falls 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 Valley Falls, Kansas
Property taxes in Valley Falls, Kansas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Valley Falls is 1.53%, significantly higher than both the Kansas state median and the U.S. national median of 0.99%. Local government entities within Valley Falls set these rates annually, and they can vary significantly across different neighborhoods. Each year, Valley Falls 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 Valley Falls' effective property tax rate to other counties in Kansas and the national median. For comparison, the 66088 zip code has the highest median property tax rate of 1.53%, while the same zip code also has the lowest median tax rate of 1.53%. Understanding how these areas compare with Valley Falls provides valuable insights into the varying tax landscape across Atchison County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Valley Falls Tax Rate
1.53%
Average Atchison County Tax Rate
1.45%
Average Kansas Tax Rate
1.43%
Average United States Tax Rate
0.99%
Property Tax Rates Across Valley Falls, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 66088 | 1.10% | 1.22% | 1.53% | 1.96% | 3.02% |
Source: Ownwell
Property Tax Assessment Values Across Valley Falls, Kansas
In Valley Falls, 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 Atchison 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 Valley Falls, 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 example, the median home price in Valley Falls is $88,150, with tax bills ranging from $1,094 at the 25th percentile to $2,560 at the 90th percentile. The highest and lowest median tax bill is $1,331, both found in the zip code 66088. By understanding 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 Valley Falls helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Valley Falls Assessed Value
$88,150
Average Atchison County Assessed Value
$101,645
Average Kansas Assessed Value
$156,260
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Valley Falls, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 66088 | $36,584 | $72,140 | $88,150 | $177,310 | $204,144 |
Source: Ownwell
Property Tax Bills Across Valley Falls, Kansas
In Valley Falls, located in Atchison 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. Factors such as property location, size, and improvements can influence the assessed value. The median home price in Valley Falls is $88,150, and the tax rate is applied to this value to estimate the tax bill. Homeowners in Valley Falls can expect property tax bills ranging significantly based on their property's assessed value. For instance, the 25th percentile tax bill is approximately $1,094, while the 75th percentile reaches around $1,964. At the higher end, the 90th percentile tax bill is about $2,560. Comparatively, the national median property tax rate is 0.99%, making the local rates and resulting tax bills a critical consideration for homeowners. These taxes fund essential public services, directly impacting the community and property values.
Average Valley Falls Tax Bill
$1,331
Average Atchison County Tax Bill
$1,343
Average Kansas Tax Bill
$2,595
Average United States Tax Bill
$2,690
Property Tax Bills Across Valley Falls, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 66088 | $503 | $1,094 | $1,331 | $1,964 | $2,560 |
Source: Ownwell