Riverton, Kansas Property Taxes
The median property tax rate in Riverton, KS is 1.06%, 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 Riverton, the typical annual property tax bill reaches $1,398, which is below the national median of $2,690. Property taxes in Riverton are based on the tax assessed value, which is often lower than the market value due to various exemptions such as those for primary residences and agricultural properties. Understanding Riverton'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 Riverton or another part of Cherokee County, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Riverton, Kansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.06%
Estimate Property Tax Bill
$1,317
Ownwell’s Riverton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Riverton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Riverton 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 Riverton, Kansas
Property taxes in Riverton, Kansas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Riverton is 1.06%, higher than both the Kansas state median and the U.S. national median of 0.99%. Local government entities within Riverton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Riverton 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 Riverton's effective property tax rate to other counties in Kansas and the national median. For comparison, the 66770 zip code has the highest median property tax rate of 1.06%, while the same zip code also has the lowest median tax rate of 1.06%. Understanding how these cities compare with Riverton provides valuable insights into the varying tax landscape across Cherokee County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Riverton Tax Rate
1.06%
Average Cherokee County Tax Rate
1.39%
Average Kansas Tax Rate
1.43%
Average United States Tax Rate
0.99%
Property Tax Rates Across Riverton, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 66770 | 0.95% | 1.02% | 1.06% | 1.09% | 1.56% |
Source: Ownwell
Property Tax Assessment Values Across Riverton, Kansas
In Riverton, 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 Cherokee 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 Riverton, 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 Riverton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Riverton, the highest median tax bill is $1,398 in the 66770 zip code, while the lowest median tax bill is also $1,398 in the same zip code. This highlights the importance of understanding property valuations to manage and potentially reduce tax bills effectively.
Average Riverton Assessed Value
$124,220
Average Cherokee County Assessed Value
$77,000
Average Kansas Assessed Value
$156,260
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Riverton, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 66770 | $39,385 | $74,720 | $124,220 | $173,750 | $234,651 |
Source: Ownwell
Property Tax Bills Across Riverton, Kansas
Property tax bills in Riverton, located in Cherokee County, KS, are determined by the assessed value of a property and the local tax rate. The assessed value is typically a percentage of the property's market value, which in Riverton is influenced by various factors such as property size, location, and condition. Once the assessed value is established, the local tax rate is applied to calculate the annual tax bill. For homeowners in Riverton, the median home price stands at $124,220. Property tax bills can vary significantly, with the 25th percentile at $878 and the 75th percentile reaching $1,973. At the 90th percentile, homeowners might see a tax bill as high as $2,559. Compared to the national median property tax rate of 0.99%, Riverton's rates reflect both the value of the properties and the specific needs of the local government. These property taxes fund essential services such as public education, infrastructure, and emergency services, directly impacting the quality of life for Riverton residents.
Average Riverton Tax Bill
$1,398
Average Cherokee County Tax Bill
$1,049
Average Kansas Tax Bill
$2,595
Average United States Tax Bill
$2,690
Property Tax Bills Across Riverton, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 66770 | $438 | $878 | $1,398 | $1,973 | $2,559 |
Source: Ownwell