Thomas County Property Taxes
The median property tax rate in Thomas County is 1.59%, which is significantly higher than both the national median of 0.99% and the Kansas state median of 1.43%. With the median home value in Thomas County at $124,550, the typical annual property tax bill reaches $1,936, which is below the national median of $2,690. Property taxes in Thomas County are calculated based on the tax assessed value, which generally falls below the actual market value due to various property tax exemptions like the primary residence and agricultural exemptions. Understanding Thomas County's specific property tax system, exploring available exemptions, and identifying opportunities for property tax reductions can provide significant annual savings. Whether you live in Colby or another part of Thomas County, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Thomas County Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.59%
Estimate Property Tax Bill
$1,980
Ownwell’s Thomas County Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner to estimate their annual property taxes in Thomas County with just 2 data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Thomas County to estimate your property tax bill. This insight helps you understand potential tax liabilities. If you’d like to see trends on a city level, scroll down to navigate to a more local informational page. Your property assessed value is the value assigned to your property by your county for property tax calculations. Assessed value takes into account any exemptions you may have on your property.
Property Tax Rates Across Thomas County, Kansas
Property taxes in Thomas County play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Thomas County is 1.59%, which is higher than both the Kansas state median and the U.S. national median of 0.99%. Local government entities within Thomas County set these rates annually, and they can vary significantly between different areas within the county. Each year, Thomas County estimates its required budget to maintain services for the upcoming fiscal year and divides this budget by the total value of all taxable property in the jurisdiction, resulting in the property tax rate. Although tax rates and budgets are influenced by laws and voter input, this calculation forms the basic process for setting property tax rates. For comparison, the city of Selden has one of the higher property tax rates in Kansas at 2.10%, while the city of Menlo boasts one of the lowest at 1.10%. Analyzing how Thomas County's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Thomas County Tax Rate
1.59%
Average Kansas Tax Rate
1.43%
Average United States Tax Rate
0.99%
Property Tax Rates Across Thomas County, Kansas
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Brewster | 1.16% | 1.51% | 1.88% | 2.01% | 2.35% |
| Colby | 1.26% | 1.49% | 1.59% | 1.64% | 1.69% |
| Gem | 0.62% | 1.10% | 1.42% | 1.51% | 1.75% |
| Levant | 0.83% | 1.13% | 1.48% | 1.73% | 2.62% |
| Menlo | 0.73% | 0.81% | 1.10% | 1.56% | 1.71% |
| Monument | 1.73% | 1.80% | 1.92% | 2.05% | 2.12% |
| Oakley | N/A | N/A | N/A | N/A | N/A |
| Rexford | 0.98% | 1.24% | 1.55% | 1.65% | 1.95% |
| Selden | 2.10% | 2.10% | 2.10% | 2.10% | 2.10% |
| Winona | 1.10% | 1.23% | 1.38% | 1.65% | 2.28% |
Source: Ownwell
Property Tax Assessment Values Across Thomas County, Kansas
Understanding the difference between "market value" and "assessed value" is key to comprehending property taxes in Thomas County, KS. The market value represents the price a willing buyer would pay to a willing seller in an open, competitive market, considering location, property condition, and current economic trends. For tax purposes, this value is estimated by the Thomas County Appraisal District. The assessed value, however, 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. Assessment notices in Thomas County are typically mailed in the spring, usually by the middle of April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. The median home price in the county is $124,550, with tax bills ranging from $766 in Rexford to $8,174 in Selden. By distinguishing between these valuation concepts, property owners can better navigate their tax responsibilities and understand how their property taxes are affected. Being aware of these valuation processes in Thomas County will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively.
Average Thomas County Assessed Value
$124,550
Average Kansas Assessed Value
$156,260
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Thomas County, Kansas
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Brewster | $21,370 | $38,190 | $78,250 | $154,080 | $235,190 |
| Colby | $50,112 | $85,100 | $136,190 | $192,005 | $297,000 |
| Gem | $5,242 | $19,930 | $53,740 | $116,840 | $225,162 |
| Levant | $5,994 | $18,575 | $70,385 | $146,115 | $227,838 |
| Menlo | $2,314 | $2,980 | $6,210 | $13,330 | $29,192 |
| Monument | $318,492 | $331,950 | $354,380 | $376,810 | $390,268 |
| Oakley | N/A | N/A | N/A | N/A | N/A |
| Rexford | $9,354 | $21,840 | $50,840 | $109,332 | $210,566 |
| Selden | $390,000 | $390,000 | $390,000 | $390,000 | $390,000 |
| Winona | $110,826 | $113,290 | $151,750 | $201,180 | $252,296 |
Source: Ownwell
Property Tax Bills Across Thomas County, Kansas
In Thomas County, KS, property tax bills are calculated based on the assessed value of a home, which is determined by multiplying the market value by the assessment ratio. Homeowners in this county experience a range of property tax bills, influenced by various factors such as property location, market value, and local tax rates. For instance, the median home price in Thomas County is $124,550. Tax bills in the county can vary significantly, with the 25th percentile at $1,078 and the 75th percentile reaching $2,857. At the higher end, the 90th percentile tax bill is $4,357. The highest median tax bill in the county is found in Selden at $8,174, while Rexford has the lowest median tax bill of $766. These variations can affect homeowners significantly, impacting their annual financial planning and overall cost of living. Compared to the national median property tax rate of 0.99%, Thomas County's tax bills reflect the diverse economic landscape within the region.
Average Thomas County Tax Bill
$1,936
Average Kansas Tax Bill
$2,595
Average United States Tax Bill
$2,690
Property Tax Bills Across Thomas County, Kansas
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Brewster | $322 | $703 | $1,348 | $2,555 | $4,025 |
| Colby | $752 | $1,332 | $2,099 | $2,987 | $4,382 |
| Gem | $31 | $236 | $795 | $1,636 | $3,403 |
| Levant | $52 | $259 | $1,116 | $2,539 | $4,103 |
| Menlo | $24 | $41 | $56 | $147 | $454 |
| Monument | $5,550 | $6,067 | $6,929 | $7,791 | $8,308 |
| Oakley | N/A | N/A | N/A | N/A | N/A |
| Rexford | $94 | $317 | $766 | $1,580 | $3,332 |
| Selden | $8,174 | $8,174 | $8,174 | $8,174 | $8,174 |
| Winona | $1,246 | $1,781 | $2,535 | $3,908 | $5,578 |
Source: Ownwell