Lancaster, Kansas Property Taxes
The median property tax rate in Lancaster, KS is 1.12%, slightly above the national median of 0.99% but lower than the Kansas state median of 1.43%. With the median home value in Lancaster at $104,030, the typical annual property tax bill reaches $1,269, which is below the national median of $2,690. Property taxes in Lancaster are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Lancaster'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 Lancaster 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
Lancaster, Kansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.12%
Estimate Property Tax Bill
$1,165
$1,081
Ownwell’s Lancaster Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lancaster with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lancaster 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 Lancaster, Kansas
Property taxes in Lancaster, Kansas, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lancaster is 1.12%, which is higher than the U.S. national median of 0.99%. Local government entities within Lancaster set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lancaster 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 Lancaster's effective property tax rate to other counties in Kansas and the national median. For comparison, the 66041 zip code has the highest median property tax rate of 1.12%, while the same zip code also has the lowest median tax rate of 1.12%. Understanding how these areas compare with Lancaster provides valuable insights into the varying tax landscape across Atchison County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Lancaster Tax Rate
1.12%
Average Atchison County Tax Rate
1.45%
Average Kansas Tax Rate
1.43%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lancaster, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 66041 | 0.95% | 1.04% | 1.12% | 1.54% | 2.13% |
Source: Ownwell
Property Tax Assessment Values Across Lancaster, Kansas
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Lancaster, Kansas. 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 Atchison 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 Lancaster, 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. For example, the median home price in Lancaster is $104,030, with tax bills ranging from $594 at the 25th percentile to $4,120 at the 90th percentile. The highest median tax bill in the area is $1,269 in the 66041 zip code. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Lancaster Assessed Value
$104,030
Average Atchison County Assessed Value
$101,645
Average Kansas Assessed Value
$156,260
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lancaster, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 66041 | $3,468 | $39,865 | $104,030 | $175,025 | $248,226 |
Source: Ownwell
Property Tax Bills Across Lancaster, Kansas
In Lancaster, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The assessed value is a percentage of the property's market value, and this figure is then multiplied by the local tax rate to determine the annual tax bill. For instance, with a median home price of $104,030, homeowners in Lancaster can expect their property tax bills to vary significantly. Factors such as location, property size, and any improvements made to the home can influence the assessed value. The tax bill in Lancaster ranges widely, with the 25th percentile at $594, the 75th percentile at $2,274, and the 90th percentile reaching up to $4,120. This variability can have a significant impact on homeowners, affecting their annual budgeting and long-term financial planning. Compared to the national median property tax rate of 0.99%, Lancaster's tax bills illustrate the diverse range of property tax burdens homeowners can face.
Average Lancaster Tax Bill
$1,269
Average Atchison County Tax Bill
$1,343
Average Kansas Tax Bill
$2,595
Average United States Tax Bill
$2,690
Property Tax Bills Across Lancaster, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 66041 | $151 | $594 | $1,269 | $2,274 | $4,120 |
Source: Ownwell