Greenwich, Kansas Property Taxes
The median property tax rate in Greenwich, Kansas is 1.30%, which is higher than the national median of 0.99% but lower than the Kansas state median of 1.43%. With the median home value in Greenwich, the typical annual property tax bill amounts to $805, which is below the national median of $2,690. Property taxes in Greenwich are calculated based on the tax assessed value, which often falls below the market value due to exemptions such as primary residence and agricultural exemptions. Understanding Greenwich'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 Greenwich 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
Greenwich, Kansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.3%
Estimate Property Tax Bill
$822
Ownwell’s Greenwich Property Tax Bill Calculator is a valuable tool for homeowners, real estate investors, or potential buyers to estimate their annual property taxes in Greenwich with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Greenwich to provide an estimate of your property tax bill. This handy tool offers insights into potential tax liabilities, helping you plan your finances better. For those interested in neighborhood-level trends, you can find more detailed information by scrolling down. Your property’s assessed value, determined by the county, is used for property tax calculations and may include applicable exemptions.
Property Tax Rates Across Greenwich, Kansas
Property taxes in Greenwich, Kansas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Greenwich is 1.30%, significantly higher than the U.S. national median of 0.99%. Local government entities within Greenwich set these rates annually, and they can vary significantly across different neighborhoods. Each year, Greenwich 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 Greenwich's effective property tax rate to other counties in Kansas and the national median. For comparison, the 67055 zip code has the highest median property tax rate of 1.30%, while the same zip code also holds the lowest median tax rate of 1.30%. Understanding how these areas compare with Greenwich provides valuable insights into the varying tax landscape across Sedgwick County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Greenwich Tax Rate
1.30%
Average Sedgwick County Tax Rate
1.29%
Average Kansas Tax Rate
1.43%
Average United States Tax Rate
0.99%
Property Tax Rates Across Greenwich, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 67055 | 1.21% | 1.22% | 1.30% | 1.33% | 1.38% |
Source: Ownwell
Property Tax Assessment Values Across Greenwich, Kansas
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Greenwich, 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 Sedgwick County 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 Greenwich, 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. The highest median tax bill in Greenwich is $805 in the 67055 zip code, while the lowest is also $805 in the same zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Greenwich Assessed Value
$63,215
Average Sedgwick County Assessed Value
$135,800
Average Kansas Assessed Value
$156,260
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Greenwich, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 67055 | $14,233 | $28,278 | $63,215 | $98,682 | $126,982 |
Source: Ownwell
Property Tax Bills Across Greenwich, Kansas
In Greenwich, Kansas, property tax bills are calculated based on the assessed value of a home, which is a percentage of the market value. The median home price in Greenwich is $63,215. Property tax rates in Sedgwick County are applied to this assessed value to determine the annual tax bill. For instance, homeowners at the 25th percentile can expect a tax bill of around $341, while those at the 75th percentile may see a bill closer to $1,303. Factors influencing the tax bill include the property's assessed value, local tax rates, and any applicable exemptions. These factors combined determine the final amount a homeowner must pay. With the national median property tax rate at 0.99%, the property tax rates in Greenwich can significantly impact homeowners, especially when compared to other regions. Understanding these calculations helps homeowners anticipate their tax obligations and manage their finances more effectively.
Average Greenwich Tax Bill
$805
Average Sedgwick County Tax Bill
$1,835
Average Kansas Tax Bill
$2,595
Average United States Tax Bill
$2,690
Property Tax Bills Across Greenwich, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 67055 | $180 | $341 | $805 | $1,303 | $1,700 |
Source: Ownwell