Milton, Kansas Property Taxes
The median property tax rate in Milton, KS is 1.61%, considerably higher than both the national median of 0.99% and the Kansas state median of 1.43%. With the median home value in Milton, the typical annual property tax bill reaches $714, which is significantly lower than the national median of $2,690. Property taxes in Milton 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 Milton'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 Milton 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
Milton, Kansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.61%
Estimate Property Tax Bill
$714
Ownwell’s Milton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Milton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Milton 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 Milton, Kansas
Property taxes in Milton, Kansas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Milton is 1.61%, significantly higher than both the Kansas state median and the U.S. national median of 0.99%. Local government entities within Milton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Milton 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 Milton's effective property tax rate to other counties in Kansas and the national median. For comparison, the 67106 zip code has the highest median property tax rate of 1.61%, while the same zip code also has the lowest median tax rate of 1.61%. Understanding how these cities compare with Milton provides valuable insights into the varying tax landscape across Kingman County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Milton Tax Rate
1.61%
Average Kingman County Tax Rate
1.98%
Average Kansas Tax Rate
1.43%
Average United States Tax Rate
0.99%
Property Tax Rates Across Milton, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 67106 | 1.61% | 1.61% | 1.61% | 1.61% | 1.61% |
Source: Ownwell
Property Tax Assessment Values Across Milton, Kansas
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Milton, Kansas. 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 Kingman 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 Milton, 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. For example, the highest and lowest median tax bills in Milton are both $714, found in the 67106 zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Milton Assessed Value
$44,340
Average Kingman County Assessed Value
$84,385
Average Kansas Assessed Value
$156,260
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Milton, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 67106 | $44,340 | $44,340 | $44,340 | $44,340 | $44,340 |
Source: Ownwell
Property Tax Bills Across Milton, Kansas
In Milton, located in Kingman County, KS, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by the local assessor's office and is a percentage of the property's market value. For homeowners in Milton, the median home price is $44,340. The tax rate is applied to the assessed value to determine the annual tax bill. In this area, the median property tax bill stands at $714, which is significantly lower than the national median property tax rate of 0.99%. Factors influencing the tax bill include the property's assessed value, local tax rates, and any applicable exemptions. For example, the 25th, 75th, and 90th percentile tax bills in Milton are all $714, indicating a consistent tax rate across different property values. This relatively low and consistent tax rate can make homeownership in Milton more affordable compared to other regions, providing financial relief and stability for homeowners.
Average Milton Tax Bill
$714
Average Kingman County Tax Bill
$1,733
Average Kansas Tax Bill
$2,595
Average United States Tax Bill
$2,690
Property Tax Bills Across Milton, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 67106 | $714 | $714 | $714 | $714 | $714 |
Source: Ownwell