Walnut, Bourbon County, Kansas Property Taxes
The median property tax rate in Walnut, KS is 2.38%, significantly higher than both the national median of 0.99% and the Kansas state median of 1.43%. With a median home value of $56,420, the typical annual property tax bill in Walnut reaches $893, which is below the national median of $2,690. Property taxes in Walnut are calculated based on the tax assessed value, which often falls below the market value due to exemptions like primary residence and agricultural exemptions. Understanding Walnut'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 Walnut or another part of Bourbon County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Walnut, Bourbon County, Kansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.38%
Estimate Property Tax Bill
$1,343
$1,246
Ownwell’s Walnut Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Walnut with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Walnut 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 Walnut, Bourbon County, Kansas
Property taxes in Walnut, Kansas, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Walnut is 2.38%, significantly higher than the Kansas state median and the U.S. national median of 0.99%. Local government entities within Walnut set these rates annually, and they can vary significantly across different neighborhoods. Each year, Walnut 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 Walnut's effective property tax rate to other counties in Kansas and the national median. For comparison, the zip code 66780 has both the highest and lowest median property tax rate of 2.38%. Understanding how these cities compare with Walnut provides valuable insights into the varying tax landscape across Bourbon County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Walnut Tax Rate
2.38%
Average Bourbon County Tax Rate
1.91%
Average Kansas Tax Rate
1.43%
Average United States Tax Rate
0.99%
Property Tax Rates Across Walnut, Bourbon County, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 66780 | 1.48% | 1.62% | 2.38% | 3.25% | 4.26% |
Source: Ownwell
Property Tax Assessment Values Across Walnut, Bourbon County, Kansas
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Walnut, 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 Bourbon 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 Walnut, 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 instance, the highest median tax bill in Walnut is $893 in the 66780 zip code, while the lowest is also $893 in the same zip code. 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 Walnut helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Walnut, Bourbon County, Kansas
Source: Ownwell
$28,700
$87,728
$146,755
Average Walnut Assessed Value
$56,420
Average Bourbon County Assessed Value
$59,230
Average Kansas Assessed Value
$156,260
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Walnut, Bourbon County, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 66780 | $16,122 | $19,930 | $56,420 | $125,955 | $185,498 |
Source: Ownwell
Property Tax Bills Across Walnut, Bourbon County, Kansas
In Walnut, Kansas, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. This assessed value is a percentage of the property's market value. For instance, with a median home price of $56,420, the assessed value is used to calculate the tax bill. The tax rate in Walnut is influenced by various local factors, including funding needs for public services such as schools, infrastructure, and emergency services. Homeowners in Walnut face varying tax bills, with the 25th percentile paying around $585 and the 75th percentile paying approximately $2,479. The 90th percentile tax bill can go up to $3,116. These figures indicate a wide range of property tax burdens, reflecting differences in property values and specific local tax rates. Compared to the national median property tax rate of 0.99%, Walnut's property tax rates can be seen as relatively moderate, but they still significantly impact homeowners' annual expenses.
Average Walnut Tax Bill
$893
Average Bourbon County Tax Bill
$1,096
Average Kansas Tax Bill
$2,595
Average United States Tax Bill
$2,690
Property Tax Bills Across Walnut, Bourbon County, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 66780 | $345 | $585 | $893 | $2,479 | $3,116 |
Source: Ownwell