Murdock, Kansas Property Taxes
The median property tax rate in Murdock, KS is 1.79%, considerably higher than both the national median of 0.99% and the Kansas state median of 1.43%. With the median home value in Murdock at $102,985, the typical annual property tax bill reaches $2,041, which is below the national median of $2,690. Property taxes in Murdock 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 Murdock'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 Murdock 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
Murdock, Kansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.79%
Estimate Property Tax Bill
$1,843
Ownwell’s Murdock Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Murdock with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Murdock 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 Murdock, Kansas
Property taxes in Murdock, Kansas, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Murdock is 1.79%, significantly higher than both the Kansas state median and the U.S. national median of 0.99%. Local government entities within Murdock set these rates annually, and they can vary considerably across different neighborhoods. Each year, Murdock 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 Murdock's effective property tax rate to other counties in Kansas and the national median. For comparison, the 67111 zip code has the highest median property tax rate of 1.79%, which is also the lowest median tax rate in the area. Understanding how these cities compare with Murdock 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 Murdock Tax Rate
1.79%
Average Kingman County Tax Rate
1.98%
Average Kansas Tax Rate
1.43%
Average United States Tax Rate
0.99%
Property Tax Rates Across Murdock, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 67111 | 1.55% | 1.67% | 1.79% | 2.00% | 2.37% |
Source: Ownwell
Property Tax Assessment Values Across Murdock, Kansas
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Murdock, 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. Assessment notices in Murdock 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 Murdock helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill in Murdock is 67111, both at $2041.
Average Murdock Assessed Value
$102,985
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 Murdock, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 67111 | $21,790 | $53,610 | $102,985 | $164,942 | $237,730 |
Source: Ownwell
Property Tax Bills Across Murdock, Kansas
In Murdock, Kingman County, KS, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The local tax rate, applied to this assessed value, determines the final tax bill. For instance, with a median home price of $102,985, homeowners can expect varying tax bills depending on their property's assessment and specific local rates. The tax bill at the 25th percentile is around $1,098, indicating that lower-valued properties incur less tax. Conversely, at the 75th percentile, the tax bill rises to approximately $3,066, reflecting higher property values. Factors influencing the tax bill include the property's location, assessed value, and any applicable exemptions. These taxes significantly impact homeowners by contributing to local services like schools, infrastructure, and public safety. Comparatively, Murdock's tax rates and bills align with national trends, providing a balanced perspective for homeowners in this region. This system ensures that property taxes are fairly distributed based on property value and local needs.
Average Murdock Tax Bill
$2,041
Average Kingman County Tax Bill
$1,733
Average Kansas Tax Bill
$2,595
Average United States Tax Bill
$2,690
Property Tax Bills Across Murdock, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 67111 | $333 | $1,098 | $2,041 | $3,066 | $4,268 |
Source: Ownwell