Solomon, Kansas Property Taxes
The median property tax rate in Solomon, KS is 2.12%, considerably higher than both the national median of 0.99% and the Kansas state median of 1.43%. With the median home value in Solomon, the typical annual property tax bill reaches $2,263, slightly below the national median of $2,690. Property taxes in Solomon 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 Solomon'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 Solomon 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
Solomon, Kansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.12%
Estimate Property Tax Bill
$2,345
Ownwell's Solomon Property Tax Bill Calculator enables homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Solomon with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Solomon to provide an estimated property tax bill. This valuable tool helps you gauge potential tax liabilities effectively. For those interested in neighborhood-level trends, more localized information is available further down the page. Your property’s assessed value is determined by the county for property tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Solomon, Kansas
Property taxes in Solomon, Kansas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Solomon is 2.12%, significantly higher than both the Kansas state median and the U.S. national median of 0.99%. Local government entities within Solomon set these rates annually, and they can vary significantly across different neighborhoods. Each year, Solomon 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 Solomon's effective property tax rate to other counties in Kansas and the national median. For comparison, the zip code 67480 has the highest median property tax rate of 2.12%, while the same zip code also has the lowest median tax rate of 2.12%. Understanding how these cities compare with Solomon provides valuable insights into the varying tax landscape across Dickinson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Solomon Tax Rate
2.12%
Average Dickinson County Tax Rate
1.82%
Average Kansas Tax Rate
1.43%
Average United States Tax Rate
0.99%
Property Tax Rates Across Solomon, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 67480 | 1.66% | 2.04% | 2.12% | 2.15% | 2.16% |
Source: Ownwell
Property Tax Assessment Values Across Solomon, Kansas
In Solomon, 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 Dickinson 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 Solomon, 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 Solomon helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Solomon are both $2,263, with the zip code 67480.
Average Solomon Assessed Value
$110,605
Average Dickinson County Assessed Value
$105,350
Average Kansas Assessed Value
$156,260
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Solomon, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 67480 | $27,338 | $64,780 | $110,605 | $160,718 | $216,952 |
Source: Ownwell
Property Tax Bills Across Solomon, Kansas
In Solomon, located in Dickinson County, KS, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The median home price in Solomon is $110,605. Homeowners in this city see a range of tax bills depending on their property's assessed value. For instance, the 25th percentile tax bill is $1,361, while the 75th percentile tax bill rises to $3,272, and at the 90th percentile, it can reach up to $4,483. The tax rate in Solomon is influenced by local government budgets and the needs of public services such as schools and infrastructure. This rate is applied to the assessed value to determine the final tax bill. Compared to the national median property tax rate of 0.99%, Solomon's rates reflect the specific fiscal requirements of Dickinson County. Homeowners must account for these taxes as part of their annual expenses, which can impact their overall financial planning and home affordability.
Average Solomon Tax Bill
$2,263
Average Dickinson County Tax Bill
$2,015
Average Kansas Tax Bill
$2,595
Average United States Tax Bill
$2,690
Property Tax Bills Across Solomon, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 67480 | $571 | $1,361 | $2,263 | $3,272 | $4,483 |
Source: Ownwell