Galva, Kansas Property Taxes
The median property tax rate in Galva, KS is 1.62%, considerably higher than both the national median of 0.99% and the Kansas state median of 1.43%. With the median home value in Galva at $197,860, the typical annual property tax bill reaches $3,121, exceeding the national median of $2,690. Property taxes in Galva 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 Galva'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 Galva or another part of McPherson County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Galva, Kansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.62%
Estimate Property Tax Bill
$3,205
Ownwell’s Galva Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Galva with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Galva 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 Galva, Kansas
Property taxes in Galva, Kansas, are essential for funding vital local services such as public schools, road maintenance, and emergency services. The median tax rate in Galva is 1.62%, significantly higher than both the Kansas state median and the U.S. national median of 0.99%. Local government entities within Galva set these rates annually, and they can vary significantly across different neighborhoods. Each year, Galva 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 Galva's effective property tax rate to other counties in Kansas and the national median. For comparison, the 67443 zip code has the highest median property tax rate of 1.62%, while the same zip code also has the lowest median tax rate of 1.62%. Understanding how these areas compare with Galva provides valuable insights into the varying tax landscape across McPherson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Galva Tax Rate
1.62%
Average Mcpherson County Tax Rate
1.47%
Average Kansas Tax Rate
1.43%
Average United States Tax Rate
0.99%
Property Tax Rates Across Galva, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 67443 | 1.33% | 1.41% | 1.62% | 1.68% | 1.73% |
Source: Ownwell
Property Tax Assessment Values Across Galva, Kansas
In Galva, 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 McPherson 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 Galva, 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 Galva helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 67443 has the highest and lowest median tax bill, both at $3,121.
Average Galva Assessed Value
$197,860
Average Mcpherson County Assessed Value
$161,285
Average Kansas Assessed Value
$156,260
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Galva, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 67443 | $92,104 | $141,485 | $197,860 | $260,425 | $328,376 |
Source: Ownwell
Property Tax Bills Across Galva, Kansas
In Galva, located in McPherson 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 Galva is $197,860. The tax rate is applied to this assessed value to determine the annual tax bill. Factors such as property location, home improvements, and local tax rates play a crucial role in this calculation. For instance, the 25th percentile of tax bills in Galva is $2,174, while those in the 75th percentile can reach up to $4,056. The highest median tax bill recorded is $3,121. These tax bills significantly impact homeowners by influencing their annual expenses and potentially affecting their ability to afford their homes. Compared to the national median property tax rate of 0.99%, Galva’s property tax rates can vary, affecting how much homeowners ultimately pay. Understanding these factors helps homeowners plan their finances and anticipate changes in their property tax obligations.
Average Galva Tax Bill
$3,121
Average Mcpherson County Tax Bill
$2,306
Average Kansas Tax Bill
$2,595
Average United States Tax Bill
$2,690
Property Tax Bills Across Galva, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 67443 | $1,443 | $2,174 | $3,121 | $4,056 | $5,196 |
Source: Ownwell