Russell, Kansas Property Taxes
The median property tax rate in Russell, KS is 2.32%, considerably higher than both the national median of 0.99% and Kansas' state median of 1.43%. With the median home value in Russell, the typical annual property tax bill reaches $2,837, exceeding the national median of $2,690. Property taxes in Russell 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 Russell'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 Russell 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
Russell, Kansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.32%
Estimate Property Tax Bill
$2,493
Ownwell’s Russell Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Russell with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Russell 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 Russell, Kansas
Property taxes in Russell, Kansas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Russell is 1.80%, significantly higher than the Kansas state median of 1.37% and the U.S. national median of 0.99%. Local government entities within Russell set these rates annually, and they can vary significantly across different neighborhoods. Each year, Russell 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 Russell's effective property tax rate to other counties in Kansas and the national median. For comparison, the 67665 zip code has the highest median property tax rate of 1.80%, while the same zip code also has the lowest median tax rate of 1.80%. Understanding how these cities compare with Russell provides valuable insights into the varying tax landscape across Russell County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Russell Tax Rate
2.32%
Average Barton County Tax Rate
1.84%
Average Kansas Tax Rate
1.43%
Average United States Tax Rate
0.99%
Property Tax Rates Across Russell, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 67665 | 1.69% | 1.84% | 2.32% | 2.78% | 3.32% |
Source: Ownwell
Property Tax Assessment Values Across Russell, Kansas
In Russell, 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 Russell, 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 Russell helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Russell both amount to $2837, found in the zip code 67665.
Average Russell Assessed Value
$107,460
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 Russell, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 67665 | $62,490 | $74,750 | $107,460 | $151,910 | $174,040 |
Source: Ownwell
Property Tax Bills Across Russell, Kansas
Property tax bills in Russell, KS, are calculated based on the assessed value of your property, which is determined by the county assessor. The assessed value is typically a percentage of the market value of your home. For instance, if your home has a median market value of $107,460, the assessed value will be a fraction of this amount, depending on local assessment rates. Once the assessed value is established, the local tax rate is applied to calculate the annual property tax bill. In Russell, property tax bills can vary significantly, with the 25th percentile tax bill being around $2,160 and the 75th percentile reaching up to $3,691. This variation can be attributed to differences in property values and specific local tax rates. Homeowners in Russell should be aware that their property tax bills are influenced by multiple factors, including changes in market values and local tax policies. These taxes fund essential public services, impacting not only individual finances but also the overall quality of life in the community.
Average Russell Tax Bill
$2,837
Average Barton County Tax Bill
$1,617
Average Kansas Tax Bill
$2,595
Average United States Tax Bill
$2,690
Property Tax Bills Across Russell, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 67665 | $1,616 | $2,160 | $2,837 | $3,691 | $4,324 |
Source: Ownwell