Latham, Butler County, Kansas Property Taxes
The median property tax rate in Latham, KS is 1.47%, considerably higher than both the national median of 0.99% and the Kansas state median of 1.43%. With the median home value in Latham, the typical annual property tax bill reaches $529, which is significantly lower than the national median of $2,690. Property taxes in Latham 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 Latham'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 Latham 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
Latham, Butler County, Kansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.47%
Estimate Property Tax Bill
$603
$559
Ownwell’s Latham Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Latham with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Latham 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 Latham, Butler County, Kansas
Property taxes in Latham, Kansas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Latham is 1.47%, significantly higher than the U.S. national median of 0.99%. Local government entities within Latham set these rates annually, and they can vary significantly across different neighborhoods. Each year, Latham 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 Latham's effective property tax rate to other counties in Kansas and the national median. For comparison, the 67072 zip code has both the highest and lowest median property tax rate of 1.47%, identical to Latham's rate. Understanding how these cities compare with Latham provides valuable insights into the varying tax landscape across Butler, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Latham Tax Rate
1.47%
Average Butler County Tax Rate
1.35%
Average Kansas Tax Rate
1.43%
Average United States Tax Rate
0.99%
Property Tax Rates Across Latham, Butler County, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 67072 | 0.78% | 1.14% | 1.47% | 1.78% | 2.05% |
Source: Ownwell
Property Tax Assessment Values Across Latham, Butler County, Kansas
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Latham, 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 Butler 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 Latham, 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 Latham is $41,010, with tax bills ranging from $144 at the 25th percentile to $3,090 at the 90th percentile. The highest median tax bill is found in zip code 67072, amounting to $529. 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.
Property Tax Assessment Values Across Latham, Butler County, Kansas
Source: Ownwell
$41,010
$237,125
$433,240
Average Latham Assessed Value
$41,010
Average Butler County Assessed Value
$188,800
Average Kansas Assessed Value
$156,260
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Latham, Butler County, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 67072 | $2,010 | $13,522 | $41,010 | $144,872 | $226,465 |
Source: Ownwell
Property Tax Bills Across Latham, Butler County, Kansas
In Latham, Kansas, property tax bills are determined by assessing the market value of a property and applying the local tax rate. The assessed value is a percentage of the market value, which is then multiplied by the tax rate set by local authorities. This calculation results in the annual property tax bill for homeowners. Several factors influence the tax bill, including property size, location, and any improvements made to the property. For homeowners in Latham, the tax bill can vary significantly. At the 25th percentile, the tax bill is around $144, while at the 75th percentile, it reaches $1,913. The top 10% of homeowners face a tax bill of approximately $3,090. The median property tax bill in Latham's highest and lowest zip codes is $529, which is considerably lower than the national median property tax rate of 0.99%. These variations affect homeowners by influencing their annual financial planning and the affordability of homeownership in the area.
Average Latham Tax Bill
$529
Average Butler County Tax Bill
$2,390
Average Kansas Tax Bill
$2,595
Average United States Tax Bill
$2,690
Property Tax Bills Across Latham, Butler County, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 67072 | $40 | $144 | $529 | $1,913 | $3,090 |
Source: Ownwell