Wakefield, Clay County, Kansas Property Taxes
The median property tax rate in Wakefield, Kansas is 1.56%, considerably higher than both the national median of 0.99% and the Kansas state median of 1.43%. With the median home value in Wakefield, the typical annual property tax bill reaches $2,126, exceeding the national median of $2,690. Property taxes in Wakefield 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 Wakefield'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 Wakefield 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
Wakefield, Clay County, Kansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.56%
Estimate Property Tax Bill
$2,127
$1,973
Ownwell’s Wakefield Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Wakefield with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Wakefield 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 Wakefield, Clay County, Kansas
Property taxes in Wakefield, Kansas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Wakefield is 1.56%, significantly higher than both the Kansas state median and the U.S. national median of 0.99%. Local government entities within Wakefield set these rates annually, and they can vary significantly across different neighborhoods. Each year, Wakefield 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 Wakefield's effective property tax rate to other counties in Kansas and the national median. For comparison, the 67487 zip code has the highest median property tax rate of 1.56%, while the same zip code also has the lowest median tax rate of 1.56%. Understanding how these cities compare with Wakefield provides valuable insights into the varying tax landscape across Clay County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Wakefield Tax Rate
1.56%
Average Clay County Tax Rate
1.86%
Average Kansas Tax Rate
1.43%
Average United States Tax Rate
0.99%
Property Tax Rates Across Wakefield, Clay County, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 67487 | 1.56% | 1.56% | 1.56% | 1.56% | 1.56% |
Source: Ownwell
Property Tax Assessment Values Across Wakefield, Clay County, Kansas
In Wakefield, 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 Clay 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 Wakefield, 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 Wakefield helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 67487 in Wakefield has both the highest and lowest median tax bills, each valued at $235.
Property Tax Assessment Values Across Wakefield, Clay County, Kansas
Source: Ownwell
$54,660
$95,493
$136,325
Average Wakefield Assessed Value
$136,325
Average Clay County Assessed Value
$92,400
Average Kansas Assessed Value
$156,260
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Wakefield, Clay County, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 67487 | $53,170 | $88,410 | $136,325 | $183,075 | $230,465 |
Source: Ownwell
Property Tax Bills Across Wakefield, Clay County, Kansas
In Wakefield, KS, property tax bills are calculated based on the assessed value of a property, which is a percentage of its market value. The median home price in Wakefield stands at $136,325. Property taxes are then determined by applying the local tax rate to this assessed value. In this region, the median tax bill is $235, which is significantly lower than the national median property tax rate of 0.99%. Several factors influence the tax bill, including the property's location, size, and any applicable exemptions. Homeowners in Wakefield benefit from relatively low property taxes, which can make homeownership more affordable compared to other regions. The consistency in tax bills, with the 25th, 75th, and 90th percentiles all at $235, suggests a stable tax environment. This stability can provide homeowners with predictable expenses, aiding in better financial planning and reducing the risk of unexpected costs. Overall, the property tax structure in Wakefield offers a favorable scenario for homeowners looking to manage their housing expenses effectively.
Average Wakefield Tax Bill
$235
Average Clay County Tax Bill
$611
Average Kansas Tax Bill
$2,595
Average United States Tax Bill
$2,690
Property Tax Bills Across Wakefield, Clay County, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 67487 | $235 | $235 | $235 | $235 | $235 |
Source: Ownwell