Newton, Kansas Property Taxes
The median property tax rate in Newton, KS is 1.32%, which is notably higher than the national median of 0.99%, but lower than the Kansas state median of 1.43%. With a median home value of $189,465 in Newton, the typical annual property tax bill amounts to $2,643, closely aligning with the national median of $2,690. Property taxes in Newton are calculated based on the assessed value, which is often lower than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Newton'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 Newton 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
Newton, Kansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.32%
Estimate Property Tax Bill
$2,501
$2,321
Ownwell’s Newton Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Newton using just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Newton 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 Newton, Kansas
Property taxes in Newton, Kansas, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Newton is 1.32%, notably higher than both the Kansas state median and the U.S. national median of 0.99%. Local government entities within Newton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Newton 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 Newton's effective property tax rate to other counties in Kansas and the national median. For comparison, the 67114 zip code has the highest median property tax rate of 1.32%, while the 67114 zip code also has the lowest median tax rate of 1.32%. Understanding how these cities compare with Newton provides valuable insights into the varying tax landscape across Butler County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Newton Tax Rate
1.32%
Average Butler County Tax Rate
1.35%
Average Kansas Tax Rate
1.43%
Average United States Tax Rate
0.99%
Property Tax Rates Across Newton, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 67114 | 1.01% | 1.15% | 1.32% | 1.59% | 1.85% |
Source: Ownwell
Property Tax Assessment Values Across Newton, Kansas
In Newton, 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 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 Newton, 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 Newton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 67114, with a median tax bill of $2,643.
Average Newton Assessed Value
$189,465
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 Newton, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 67114 | $87,600 | $140,748 | $189,465 | $264,908 | $407,465 |
Source: Ownwell
Property Tax Bills Across Newton, Kansas
In Newton, KS, property tax bills are determined by several key factors. The primary component is the assessed value of the property, which is a percentage of the market value. Local tax rates, known as mill levies, are then applied to this assessed value to calculate the tax bill. For instance, with a median home price of $189,465, homeowners can expect varying tax bills depending on their property's assessed value and the applicable mill levy. Homeowners in Newton typically see tax bills ranging from $1,726 at the 25th percentile to $3,642 at the 75th percentile, with the 90th percentile reaching up to $5,729. This variance highlights the impact of property value and local tax rates on individual tax bills. The highest and lowest median tax bills in Newton are both $2,643, reflecting a consistent tax rate across different properties. These property taxes fund essential local services such as schools, public safety, and infrastructure, directly affecting homeowners by contributing to the community's overall quality of life and property values.
Average Newton Tax Bill
$2,643
Average Butler County Tax Bill
$2,390
Average Kansas Tax Bill
$2,595
Average United States Tax Bill
$2,690
Property Tax Bills Across Newton, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 67114 | $1,062 | $1,726 | $2,643 | $3,642 | $5,729 |
Source: Ownwell