Otis, Kansas Property Taxes
The median property tax rate in Otis, Kansas is 2.17%, considerably higher than both the national median of 0.99% and the Kansas state median of 1.43%. With the median home value in Otis, the typical annual property tax bill reaches $1,539, exceeding the national median of $2,690. Property taxes in Otis are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Otis'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 Otis 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
Otis, Kansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.17%
Estimate Property Tax Bill
$1,511
$1,403
Ownwell’s Otis Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Otis with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Otis 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 Otis, Kansas
Property taxes in Otis, Kansas, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Otis is 2.17%, significantly higher than the Kansas state median and the U.S. national median of 0.99%. Local government entities within Otis set these rates annually, and they can vary significantly across different neighborhoods. Each year, Otis 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 Otis's effective property tax rate to other counties in Kansas and the national median. For comparison, the zip code 67565 has both the highest and lowest median property tax rate of 2.17%. Understanding how these cities compare with Otis provides valuable insights into the varying tax landscape across Barton County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Otis Tax Rate
2.17%
Average Barton County Tax Rate
1.84%
Average Kansas Tax Rate
1.43%
Average United States Tax Rate
0.99%
Property Tax Rates Across Otis, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 67565 | 1.53% | 1.59% | 2.17% | 3.01% | 3.42% |
Source: Ownwell
Property Tax Assessment Values Across Otis, Kansas
In Otis, 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 Barton 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 Otis, 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 Otis helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $1539, found in the 67565 zip code.
Average Otis Assessed Value
$69,650
Average Barton County Assessed Value
$86,600
Average Kansas Assessed Value
$156,260
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Otis, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 67565 | $30,096 | $56,265 | $69,650 | $94,500 | $152,224 |
Source: Ownwell
Property Tax Bills Across Otis, Kansas
In Otis, a city in Barton 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 Otis is $69,650. Property tax rates in this area can significantly impact homeowners. For instance, the tax bill at the 25th percentile is $1,195, while at the 75th percentile, it rises to $2,221. The 90th percentile tax bill reaches $2,810. These figures illustrate the range of property taxes homeowners might expect to pay, depending on their property's assessed value. The highest and lowest median tax bills in the area are both $1,539, showcasing some consistency in property tax assessments within this specific zip code, 67565. Compared to the national median property tax rate of 0.99%, the property taxes in Otis can be quite variable, affecting homeowners differently based on their property's value and specific assessed rate. Understanding these factors can help homeowners anticipate their annual property tax obligations and plan accordingly.
Average Otis Tax Bill
$1,539
Average Barton County Tax Bill
$1,617
Average Kansas Tax Bill
$2,595
Average United States Tax Bill
$2,690
Property Tax Bills Across Otis, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 67565 | $400 | $1,195 | $1,539 | $2,221 | $2,810 |
Source: Ownwell