Wheaton, Kansas Property Taxes
The median property tax rate in Wheaton, KS is 0.82%, which is notably lower than the national median of 0.99% and the Kansas state median of 1.43%. With the median home value in Wheaton, the typical annual property tax bill amounts to $971, significantly below the national median of $2,690. Property taxes in Wheaton are calculated based on the tax assessed value, which is generally lower than the market value due to various exemptions such as those for primary residences and agricultural land. By understanding Wheaton's property tax system, exploring available exemptions, and identifying opportunities for reductions, homeowners can achieve substantial annual savings. Whether you're in the heart of Wheaton or another part of the city, gaining insights into the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Wheaton, Kansas Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.43%
Estimate Property Tax Bill
$2,860
Ownwell’s Wheaton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Wheaton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Wheaton 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 Wheaton, Kansas
Property taxes in Wheaton, Kansas, are essential for funding vital local services such as public schools, road maintenance, and emergency services. The median tax rate in Wheaton is 0.82%, which is lower than the U.S. national median of 0.99%. Local government entities within Wheaton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Wheaton 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 Wheaton's effective property tax rate to other counties in Kansas and the national median. For comparison, the zip code 66521 has the highest median property tax rate of 0.82%, while the same zip code also has the lowest median tax rate of 0.82%. Understanding how these cities compare with Wheaton provides valuable insights into the varying tax landscape across Pottawatomie County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Wheaton Tax Rate
0.82%
Average Pottawatomie County Tax Rate
1.01%
Average Kansas Tax Rate
1.43%
Average United States Tax Rate
0.99%
Property Tax Rates Across Wheaton, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 66521 | 0.73% | 0.76% | 0.82% | 0.87% | 0.90% |
Source: Ownwell
Property Tax Assessment Values Across Wheaton, Kansas
In Wheaton, 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 Pottawatomie 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 Wheaton, 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. For instance, in the 66521 zip code, the highest median tax bill is $971. 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 Wheaton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Wheaton Assessed Value
$107,460
Average Pottawatomie County Assessed Value
$216,600
Average Kansas Assessed Value
$156,260
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Wheaton, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 66521 | $36,492 | $63,105 | $107,460 | $151,815 | $178,428 |
Source: Ownwell
Property Tax Bills Across Wheaton, Kansas
In Wheaton, property tax bills are calculated based on the assessed value of a home, which is determined by county assessors. The assessed value is a percentage of the market value, and this figure is then multiplied by the local tax rate to determine the annual tax bill. For example, with a median home price of $107,460, homeowners in Wheaton can expect to pay a property tax bill that falls within a range depending on various factors such as property location and specific tax rates. The 25th percentile tax bill in Wheaton is approximately $552, while the 75th percentile tax bill reaches around $1,390. At the higher end, the 90th percentile tax bill is about $1,641. When compared to the national median property tax rate of 0.99%, Wheaton's property taxes offer a perspective on how local rates and home values interact to influence what homeowners ultimately pay. This variation in tax bills highlights the importance of understanding local property tax assessments and rates to manage homeownership costs effectively.
Average Wheaton Tax Bill
$971
Average Pottawatomie County Tax Bill
$2,156
Average Kansas Tax Bill
$2,595
Average United States Tax Bill
$2,690
Property Tax Bills Across Wheaton, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 66521 | $300 | $552 | $971 | $1,390 | $1,641 |
Source: Ownwell