Wetmore, Kansas Property Taxes
The median property tax rate in Wetmore, KS is 1.09%, slightly higher than the national median of 0.99% but lower than the Kansas state median of 1.43%. With a median home value of $171,380 in Wetmore, the typical annual property tax bill amounts to $1,854, which is below the national median of $2,690. Property taxes in Wetmore are calculated based on the tax assessed value, which is often lower than the market value due to exemptions such as primary residence and agricultural exemptions. Understanding Wetmore'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 Wetmore or another part of Brown County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Wetmore, Kansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.09%
Estimate Property Tax Bill
$1,868
Ownwell’s Wetmore Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Wetmore with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Wetmore 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 Wetmore, Kansas
Property taxes in Wetmore, Kansas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Wetmore is 1.09%, which is higher than both the Kansas state median and the U.S. national median of 0.99%. Local government entities within Wetmore set these rates annually, and they can vary significantly across different neighborhoods. Each year, Wetmore 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 Wetmore's effective property tax rate to other counties in Kansas and the national median. For comparison, the zip code 66550 has the highest median property tax rate of 1.09%, while the lowest median tax rate in the same zip code is also 1.09%. Understanding how these cities compare with Wetmore provides valuable insights into the varying tax landscape across Nemaha County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Wetmore Tax Rate
1.09%
Average Brown County Tax Rate
1.17%
Average Kansas Tax Rate
1.43%
Average United States Tax Rate
0.99%
Property Tax Rates Across Wetmore, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 66550 | 0.95% | 1.04% | 1.09% | 1.37% | 2.01% |
Source: Ownwell
Property Tax Assessment Values Across Wetmore, Kansas
In Wetmore, 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 Brown 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 Wetmore, 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, in Wetmore, the median home price is $171,380, with tax bills ranging from $1,414 at the 25th percentile to $3,012 at the 75th percentile. 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 helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Wetmore Assessed Value
$171,380
Average Brown County Assessed Value
$95,260
Average Kansas Assessed Value
$156,260
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Wetmore, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 66550 | $81,412 | $120,295 | $171,380 | $240,580 | $337,816 |
Source: Ownwell
Property Tax Bills Across Wetmore, Kansas
Property tax bills in Wetmore, located in Brown County, KS, are calculated based on the assessed value of a property, which is a percentage of its market value. Homeowners in Wetmore face an intricate process where various factors, including the market value of their property, local tax rates, and any applicable exemptions, are considered. The assessed value is then multiplied by the local tax rate to determine the annual property tax bill. For instance, with a median home price of $171,380, the property tax bills can vary significantly. The 25th percentile tax bill stands at $1,414, while the 75th percentile reaches up to $3,012, and the 90th percentile can go as high as $6,935. Comparatively, the national median property tax rate is 0.99%, suggesting that Wetmore's tax rates can be quite variable. This variability in property tax bills directly impacts homeowners, influencing their overall cost of living and financial planning.
Average Wetmore Tax Bill
$1,854
Average Brown County Tax Bill
$1,072
Average Kansas Tax Bill
$2,595
Average United States Tax Bill
$2,690
Property Tax Bills Across Wetmore, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 66550 | $821 | $1,414 | $1,854 | $3,012 | $6,935 |
Source: Ownwell