Kanorado, Kansas Property Taxes
The median property tax rate in Kanorado, KS is 2.24%, significantly higher than both the national median of 0.99% and the Kansas state median of 1.43%. With the median home value in Kanorado at $44,955, the typical annual property tax bill reaches $931, which is below the national median of $2,690. Property taxes in Kanorado 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 Kanorado'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 Kanorado or another part of Sherman County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Kanorado, Kansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.24%
Estimate Property Tax Bill
$1,007
Ownwell’s KANORADO Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in KANORADO with just two simple data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in KANORADO to provide an accurate estimate of your property tax bill. This valuable tool helps you understand potential tax liabilities, making financial planning easier. For those interested in more granular insights, neighborhood-level trends are also available. Your property’s assessed value is determined by the county and is crucial for property tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Kanorado, Kansas
Property taxes in Kanorado, Kansas, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Kanorado is 1.29%, higher than the Kansas state median of 1.28% and the U.S. national median of 0.99%. Local government entities within Kanorado set these rates annually, and they can vary significantly across different neighborhoods. Each year, Kanorado 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 Kanorado's effective property tax rate to other counties in Kansas and the national median. For comparison, the 67741 zip code has the highest median property tax rate of 1.29%, while the same 67741 zip code also has the lowest median tax rate of 1.29%. Understanding how these cities compare with Kanorado provides valuable insights into the varying tax landscape across Sherman County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Kanorado Tax Rate
2.24%
Average Sherman County Tax Rate
1.56%
Average Kansas Tax Rate
1.43%
Average United States Tax Rate
0.99%
Property Tax Rates Across Kanorado, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 67741 | 1.35% | 1.77% | 2.24% | 2.61% | 3.94% |
Source: Ownwell
Property Tax Assessment Values Across Kanorado, Kansas
In Kanorado, 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 Sherman 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 Kanorado, 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 Kanorado helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 67741 has the highest median tax bill at $931, while the lowest median tax bill also stands at $931 in the same zip code.
Average Kanorado Assessed Value
$44,955
Average Sherman County Assessed Value
$93,120
Average Kansas Assessed Value
$156,260
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Kanorado, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 67741 | $5,943 | $18,620 | $44,955 | $86,715 | $152,255 |
Source: Ownwell
Property Tax Bills Across Kanorado, Kansas
Property tax bills in Kanorado, located in Sherman County, Kansas, are calculated based on the assessed value of a property. This assessed value is determined by the local tax assessor and typically represents a percentage of the property's market value. In Kanorado, the median home price stands at $44,955. The property tax rate is applied to this assessed value to determine the annual tax bill. Several factors influence the final tax bill, including the property's location, size, and any applicable exemptions. For instance, homeowners may qualify for exemptions that reduce their taxable value, thereby lowering their tax bill. In Sherman County, the 25th percentile of tax bills is around $400, while the 75th percentile reaches up to $1,713. At the 90th percentile, tax bills can be as high as $3,590. Comparatively, the national median property tax rate is 0.99%, which provides a benchmark for understanding how local rates stack up. High property taxes can significantly impact homeowners by increasing the overall cost of homeownership, making it essential for them to understand how their tax bill is calculated.
Average Kanorado Tax Bill
$931
Average Sherman County Tax Bill
$1,436
Average Kansas Tax Bill
$2,595
Average United States Tax Bill
$2,690
Property Tax Bills Across Kanorado, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 67741 | $162 | $400 | $931 | $1,713 | $3,590 |
Source: Ownwell