Mayfield, Kansas Property Taxes
The median property tax rate in Mayfield, KS is 1.40%, slightly below the state median of 1.43% but still higher than the national median of 0.99%. With a median home value of $117,515 in Mayfield, the typical annual property tax bill is approximately $1,790, which is lower than the national median of $2,690. Property taxes in Mayfield are calculated based on the assessed value, which often falls below the market value due to various exemptions such as those for primary residences and agricultural properties. Navigating Mayfield'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 Mayfield 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
Mayfield, Kansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.4%
Estimate Property Tax Bill
$1,645
Ownwell’s Mayfield Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Mayfield with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Mayfield 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 Mayfield, Kansas
Property taxes in Mayfield, Kansas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Mayfield is 1.40%, significantly higher than both the Kansas state median and the U.S. national median of 0.99%. Local government entities within Mayfield set these rates annually, and they can vary across different neighborhoods. Each year, Mayfield 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 Mayfield's effective property tax rate to other counties in Kansas and the national median. For comparison, the 67103 zip code has the highest median property tax rate of 1.40%, while the same zip code also has the lowest median tax rate of 1.40%. Understanding how these cities compare with Mayfield provides valuable insights into the varying tax landscape across Sumner County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Mayfield Tax Rate
1.40%
Average Sumner County Tax Rate
1.55%
Average Kansas Tax Rate
1.43%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mayfield, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 67103 | 1.07% | 1.18% | 1.40% | 1.68% | 2.07% |
Source: Ownwell
Property Tax Assessment Values Across Mayfield, Kansas
In Mayfield, 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 Sumner 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 Mayfield, 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 zip code with the highest median tax bill is 67103, with a median tax bill of $1,790. Being aware of these valuation processes in Mayfield helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Mayfield Assessed Value
$117,515
Average Sumner County Assessed Value
$90,990
Average Kansas Assessed Value
$156,260
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Mayfield, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 67103 | $12,320 | $42,410 | $117,515 | $187,212 | $254,300 |
Source: Ownwell
Property Tax Bills Across Mayfield, Kansas
In Mayfield, KS, property tax bills are calculated based on the assessed value of a property and the local tax rate. The assessed value is determined by the county assessor, who evaluates the property’s market value and applies an assessment ratio. This ratio typically reflects a percentage of the market value. The local tax rate, or mill rate, is then applied to the assessed value to calculate the tax bill. Several factors influence the final tax bill, including property size, location, and any applicable exemptions. In Mayfield, the median home price is $117,515, with tax bills varying significantly. For instance, homeowners at the 25th percentile pay around $751, while those at the 75th percentile face bills of approximately $2,677. At the 90th percentile, tax bills can reach up to $4,130. Compared to the national median property tax rate of 0.99%, Mayfield's tax rates can result in a wide range of tax obligations, affecting homeowners differently based on their property’s assessed value and the applicable tax rate.
Average Mayfield Tax Bill
$1,790
Average Sumner County Tax Bill
$1,397
Average Kansas Tax Bill
$2,595
Average United States Tax Bill
$2,690
Property Tax Bills Across Mayfield, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 67103 | $201 | $751 | $1,790 | $2,677 | $4,130 |
Source: Ownwell