Garnett, Kansas Property Taxes
The median property tax rate in Garnett, KS is 1.43%, aligning with the Kansas state median but significantly higher than the national median of 0.99%. With the median home value in Garnett at $110,575, the typical annual property tax bill reaches $1,522, which is below the national median of $2,690. Property taxes in Garnett are calculated based on the tax assessed value, often lower than the market value due to exemptions such as those for primary residences and agricultural properties. Grasping Garnett's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Garnett or another part of Anderson County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Garnett, 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 Garnett Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Garnett with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Garnett 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 Garnett, Kansas
Property taxes in Garnett, Kansas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Garnett is 1.43%, which is significantly higher than the U.S. national median of 0.99%. Local government entities within Garnett set these rates annually, and they can vary significantly across different neighborhoods. Each year, Garnett 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 Garnett's effective property tax rate to other counties in Kansas and the national median. For comparison, the 66032 zip code has the highest median property tax rate of 1.43%, while the same zip code also has the lowest median tax rate of 1.43%. Understanding how these cities compare with Garnett provides valuable insights into the varying tax landscape across Anderson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Garnett Tax Rate
1.43%
Average Anderson County Tax Rate
1.43%
Average Kansas Tax Rate
1.43%
Average United States Tax Rate
0.99%
Property Tax Rates Across Garnett, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 66032 | 1.09% | 1.27% | 1.43% | 1.55% | 1.74% |
Source: Ownwell
Property Tax Assessment Values Across Garnett, Kansas
In Garnett, 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 Anderson 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 Garnett, 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 Garnett helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 66032 has both the highest and lowest median tax bill at $1,522, which is significantly higher than the national median property tax rate of 0.99%.
Average Garnett Assessed Value
$110,575
Average Anderson County Assessed Value
$104,340
Average Kansas Assessed Value
$156,260
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Garnett, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 66032 | $32,893 | $63,502 | $110,575 | $178,325 | $267,561 |
Source: Ownwell
Property Tax Bills Across Garnett, Kansas
In Garnett, Anderson County, KS, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The median home price in Garnett is $110,575. Property taxes are determined by multiplying the assessed value by the local tax rate. For example, if the assessed value is 11.5% of the market value, a home valued at $110,575 would have an assessed value of approximately $12,716. The local tax rate is then applied to this assessed value to determine the tax bill. Factors influencing the tax bill include the home's market value, local tax rates, and any applicable exemptions. Homeowners in Garnett can expect their property tax bills to vary, with the 25th percentile at $854 and the 75th percentile at $2,522. At the 90th percentile, tax bills can reach up to $3,721, significantly impacting homeowners' annual expenses. Compared to the national median property tax rate of 0.99%, Garnett's property tax rates can be a crucial consideration for current and prospective homeowners.
Average Garnett Tax Bill
$1,522
Average Anderson County Tax Bill
$1,429
Average Kansas Tax Bill
$2,595
Average United States Tax Bill
$2,690
Property Tax Bills Across Garnett, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 66032 | $421 | $854 | $1,522 | $2,522 | $3,721 |
Source: Ownwell