Richmond, Kansas Property Taxes
The median property tax rate in Richmond, KS 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 Richmond at $147,230, the typical annual property tax bill amounts to $2,048, which is below the national median of $2,690. Property taxes in Richmond are based on the assessed value, which is often lower than the market value due to various exemptions such as the primary residence and agricultural exemptions. Understanding Richmond'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 Richmond or another part of Anderson County, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Richmond, Kansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.3%
Estimate Property Tax Bill
$1,914
$1,776
Ownwell’s Richmond Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Richmond with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Richmond 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 Richmond, Kansas
Property taxes in Richmond, Kansas, are essential for funding crucial local services, including public schools, road maintenance, and emergency services. The median tax rate in Richmond is 1.30%, which is higher than the U.S. national median of 0.99%. Local government entities within Richmond set these rates annually, leading to variations across different neighborhoods. Each year, Richmond estimates its required budget to maintain services for the upcoming fiscal year. This budget is then divided 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. For comparison, the highest and lowest median property tax rates in Anderson County are both 1.30%, the same as Richmond's rate. Understanding how these areas compare with Richmond 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 Richmond Tax Rate
1.30%
Average Anderson County Tax Rate
1.43%
Average Kansas Tax Rate
1.43%
Average United States Tax Rate
0.99%
Property Tax Rates Across Richmond, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 66080 | 1.04% | 1.16% | 1.30% | 1.63% | 2.34% |
Source: Ownwell
Property Tax Assessment Values Across Richmond, Kansas
In Richmond, 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 Richmond, 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 Richmond helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Richmond is $147,230, with the highest median tax bill at $2,048 in zip code 66080, matching the lowest median tax bill in the same zip code.
Average Richmond Assessed Value
$147,230
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 Richmond, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 66080 | $73,456 | $103,582 | $147,230 | $184,748 | $253,003 |
Source: Ownwell
Property Tax Bills Across Richmond, Kansas
In Richmond, Kansas, property tax bills are calculated based on the assessed value of a home, which is derived from its market value. The median home price in Richmond is $147,230. Homeowners in this area can expect their property tax bills to vary significantly. For instance, the tax bill at the 25th percentile is $1,189, while at the 75th percentile, it rises to $2,795. At the 90th percentile, it can reach as high as $4,255. These variations are influenced by several factors, including the property's assessed value, local tax rates, and any applicable exemptions. The highest and lowest median tax bills in Anderson County, where Richmond is located, are both reported at $2,048, indicating a relatively uniform tax rate within this specific zip code (66080). For homeowners, understanding how these factors interplay is crucial. Higher property taxes can affect monthly mortgage payments and overall affordability, making it essential for homeowners to stay informed and possibly seek exemptions or appeals to manage their tax liabilities effectively.
Average Richmond Tax Bill
$2,048
Average Anderson County Tax Bill
$1,429
Average Kansas Tax Bill
$2,595
Average United States Tax Bill
$2,690
Property Tax Bills Across Richmond, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 66080 | $798 | $1,189 | $2,048 | $2,795 | $4,255 |
Source: Ownwell