Towanda, Butler County, Kansas Property Taxes
The median property tax rate in Towanda, KS is 1.26%, which is higher than both the national median of 0.99% and the Kansas state median of 1.43%. With a median home value of $177,345 in Towanda, the typical annual property tax bill amounts to $2,205, falling below the national median of $2,690. Property taxes in Towanda are calculated based on the tax assessed value, which often comes in lower than the market value due to exemptions such as those for primary residences and agricultural land. Understanding Towanda'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 Towanda or another part of Butler County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Towanda, Butler County, Kansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.26%
Estimate Property Tax Bill
$2,235
$2,074
Ownwell’s Towanda Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Towanda with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Towanda 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 Towanda, Butler County, Kansas
Property taxes in Towanda, Kansas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Towanda is 1.26%, higher than both the Kansas state median and the U.S. national median of 0.99%. Local government entities within Towanda set these rates annually, and they can vary significantly across different neighborhoods. Each year, Towanda 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 Towanda's effective property tax rate to other counties in Kansas and the national median. For comparison, the 67144 zip code has the highest median property tax rate of 1.26%, while the 67144 zip code also has the lowest median tax rate of 1.26%. Understanding how these cities compare with Towanda 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 Towanda Tax Rate
1.26%
Average Butler County Tax Rate
1.35%
Average Kansas Tax Rate
1.43%
Average United States Tax Rate
0.99%
Property Tax Rates Across Towanda, Butler County, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 67144 | 0.98% | 1.11% | 1.26% | 1.51% | 1.61% |
Source: Ownwell
Property Tax Assessment Values Across Towanda, Butler County, Kansas
In Towanda, 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 Towanda, 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 Towanda helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area both stand at $2,205 in the zip code 67144.
Property Tax Assessment Values Across Towanda, Butler County, Kansas
Source: Ownwell
$41,010
$237,125
$433,240
Average Towanda Assessed Value
$177,345
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 Towanda, Butler County, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 67144 | $67,335 | $103,750 | $177,345 | $301,550 | $421,800 |
Source: Ownwell
Property Tax Bills Across Towanda, Butler County, Kansas
In Towanda, KS, property tax bills are calculated based on the assessed value of a property, which is determined by the county assessor. This assessed value is a percentage of the market value, reflecting the property's worth in the current real estate market. Factors such as property size, location, and condition are considered in this valuation. Once the assessed value is established, it is multiplied by the local tax rate to determine the annual tax bill. For example, with a median home price of $177,345, the property tax bills in Towanda can vary significantly. The 25th percentile tax bill is $1,398, while the 75th percentile reaches $3,603, and the 90th percentile climbs to $4,902. These figures illustrate the range homeowners might expect, depending on their property's assessed value and specific circumstances. Compared to the national median property tax rate of 0.99%, Towanda's tax bills reflect the local economic and real estate conditions, impacting homeowners' annual expenses and overall financial planning.
Average Towanda Tax Bill
$2,205
Average Butler County Tax Bill
$2,390
Average Kansas Tax Bill
$2,595
Average United States Tax Bill
$2,690
Property Tax Bills Across Towanda, Butler County, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 67144 | $888 | $1,398 | $2,205 | $3,603 | $4,902 |
Source: Ownwell