Rantoul, Kansas Property Taxes
The median property tax rate in Rantoul, KS is 1.48%, considerably higher than both the national median of 0.99% and the Kansas state median of 1.37%. With the median home value in Rantoul, the typical annual property tax bill reaches $2,728, slightly above the national median of $2,690. Property taxes in Rantoul 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 Rantoul'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 Rantoul 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
Rantoul, Kansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.94%
Estimate Property Tax Bill
$3,045
Ownwell’s Rantoul Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Rantoul with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Rantoul 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 Rantoul, Kansas
Property taxes in Rantoul, Kansas, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Rantoul is 1.38%, significantly higher than both the Kansas state median of 1.29% and the U.S. national median of 0.99%. Local government entities within Rantoul set these rates annually, and they can vary significantly across different neighborhoods. Each year, Rantoul 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 Rantoul's effective property tax rate to other counties in Kansas and the national median. For comparison, the 66079 zip code has the highest median property tax rate of 1.38%, while the same zip code also has the lowest median tax rate of 1.38%. Understanding how these cities compare with Rantoul provides valuable insights into the varying tax landscape across Miami County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Rantoul Tax Rate
0.94%
Average Miami County Tax Rate
1.07%
Average Kansas Tax Rate
1.43%
Average United States Tax Rate
0.99%
Property Tax Rates Across Rantoul, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 66079 | 0.77% | 0.92% | 0.94% | 0.98% | 1.02% |
Source: Ownwell
Property Tax Assessment Values Across Rantoul, Kansas
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Rantoul, 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 Miami 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 Rantoul, 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 Rantoul helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 66079 has both the highest and lowest median tax bill at $3,166, reflecting the uniformity in property tax assessments within the area.
Average Rantoul Assessed Value
$323,965
Average Miami County Assessed Value
$304,800
Average Kansas Assessed Value
$156,260
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Rantoul, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 66079 | $317,680 | $320,822 | $323,965 | $401,878 | $453,260 |
Source: Ownwell
Property Tax Bills Across Rantoul, Kansas
In Rantoul, Kansas, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor's office. This assessed value is a percentage of the market value of the property. The median home price in Rantoul is $323,965, and the tax rate is applied to this assessed value to determine the annual property tax bill. Factors considered in calculating the tax bill include the property's location, size, and any improvements or renovations made. For instance, in Miami County, the tax bill for the 25th percentile is $3,000, while those in the 75th percentile pay around $3,769. Homeowners in the 90th percentile face tax bills up to $4,343. Compared to the national median property tax rate of 0.99%, the property tax rates in Rantoul can significantly impact homeowners, affecting their monthly mortgage payments and overall affordability. Understanding these factors is crucial for homeowners to budget effectively and anticipate their yearly tax obligations.
Average Rantoul Tax Bill
$3,166
Average Miami County Tax Bill
$3,311
Average Kansas Tax Bill
$2,595
Average United States Tax Bill
$2,690
Property Tax Bills Across Rantoul, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 66079 | $2,485 | $3,000 | $3,166 | $3,769 | $4,343 |
Source: Ownwell