Mcpherson, Kansas Property Taxes
The median property tax rate in McPherson, KS is 1.49%, considerably higher than both the national median of 0.99% and the Kansas state median of 1.43%. With the median home value in McPherson, the typical annual property tax bill reaches $2,359, which is below the national median of $2,690. Property taxes in McPherson 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 McPherson'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 McPherson 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
Mcpherson, Kansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.49%
Estimate Property Tax Bill
$2,454
Ownwell’s McPherson Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in McPherson with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in McPherson 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 Mcpherson, Kansas
Property taxes in McPherson, Kansas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in McPherson is 1.49%, higher than both the Kansas state median and the U.S. national median of 0.99%. Local government entities within McPherson set these rates annually, and they can vary significantly across different neighborhoods. Each year, McPherson 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 McPherson's effective property tax rate to other counties in Kansas and the national median. For comparison, the 67460 zip code has the highest median property tax rate of 1.49%, while the lowest median tax rate is also 1.49%. Understanding how these cities compare with McPherson 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 Mcpherson Tax Rate
1.49%
Average Mcpherson County Tax Rate
1.47%
Average Kansas Tax Rate
1.43%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mcpherson, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 67460 | 1.17% | 1.42% | 1.49% | 1.52% | 1.55% |
Source: Ownwell
Property Tax Assessment Values Across Mcpherson, Kansas
In McPherson, 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 McPherson, 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 McPherson helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 67460 has both the highest and lowest median tax bills, each amounting to $2,359.
Average Mcpherson Assessed Value
$164,720
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 Mcpherson, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 67460 | $70,242 | $109,385 | $164,720 | $233,360 | $309,575 |
Source: Ownwell
Property Tax Bills Across Mcpherson, Kansas
In McPherson, Kansas, property tax bills are calculated based on the assessed value of a property, which is determined by the county assessor. The assessed value is a percentage of the property's market value. Homeowners in McPherson can expect their tax bills to vary significantly depending on the value of their homes. The median home price in the area is $164,720, with tax bills ranging from $1,548 at the 25th percentile to $4,511 at the 90th percentile. Several factors influence the final tax bill, including the property's location within McPherson County and any applicable exemptions or deductions. For instance, the highest and lowest median tax bills in the county are both $2,359, indicating a level of consistency in tax assessments within the zip code 67460. Compared to the national median property tax rate of 0.99%, McPherson's rates can be considered moderate, making it an attractive option for homeowners looking for reasonable property tax obligations.
Average Mcpherson Tax Bill
$2,359
Average Mcpherson County Tax Bill
$2,306
Average Kansas Tax Bill
$2,595
Average United States Tax Bill
$2,690
Property Tax Bills Across Mcpherson, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 67460 | $988 | $1,548 | $2,359 | $3,360 | $4,511 |
Source: Ownwell