Glasco, Kansas Property Taxes
The median property tax rate in Glasco, KS is 1.62%, considerably higher than both the national median of 0.99% and the Kansas state median of 1.43%. With the median home value in Glasco at $44,100, the typical annual property tax bill reaches $697, which is below the national median of $2,690. Property taxes in Glasco 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 Glasco'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 Glasco 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
Glasco, Kansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.62%
Estimate Property Tax Bill
$714
Ownwell’s Glasco Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Glasco with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Glasco 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 Glasco, Kansas
Property taxes in Glasco, Kansas, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Glasco is 1.62%, higher than both the Kansas state median and the U.S. national median of 0.99%. Local government entities within Glasco set these rates annually, and they can vary significantly across different neighborhoods. Each year, Glasco 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 Glasco's effective property tax rate to other counties in Kansas and the national median. For comparison, the 67445 zip code has the highest median property tax rate of 1.62%, while the 67445 zip code has the lowest median tax rate of 1.62%. Understanding how these cities compare with Glasco provides valuable insights into the varying tax landscape across Cloud County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Glasco Tax Rate
1.62%
Average Cloud County Tax Rate
1.76%
Average Kansas Tax Rate
1.43%
Average United States Tax Rate
0.99%
Property Tax Rates Across Glasco, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 67445 | 1.34% | 1.48% | 1.62% | 1.79% | 2.28% |
Source: Ownwell
Property Tax Assessment Values Across Glasco, Kansas
In Glasco, 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 Cloud 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 Glasco, 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 instance, the median home price in Glasco is $44,100, with tax bills ranging from $340 at the 25th percentile to $3,225 at the 90th 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 in Glasco helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Glasco Assessed Value
$44,100
Average Cloud County Assessed Value
$69,310
Average Kansas Assessed Value
$156,260
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Glasco, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 67445 | $7,250 | $21,600 | $44,100 | $84,900 | $149,270 |
Source: Ownwell
Property Tax Bills Across Glasco, Kansas
In Glasco, located in Cloud County, KS, property tax bills are calculated based on the assessed value of a home, which is derived from its market value. The median home price in Glasco is $44,100. The tax rate is applied to this assessed value to determine the annual tax bill. Factors such as local government budgets, school funding, and public services influence the tax rate. For instance, the 25th percentile tax bill is $340, while the 75th percentile reaches $1,369, and the 90th percentile can be as high as $3,225. These variations highlight how different property values and local tax rates affect homeowners. Compared to the national median property tax rate of 0.99%, Glasco's tax bills reflect its unique economic and governmental needs. Homeowners in this area must consider these factors when budgeting for their annual expenses, as property taxes directly impact their financial planning and the affordability of homeownership.
Average Glasco Tax Bill
$697
Average Cloud County Tax Bill
$1,191
Average Kansas Tax Bill
$2,595
Average United States Tax Bill
$2,690
Property Tax Bills Across Glasco, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 67445 | $125 | $340 | $697 | $1,369 | $3,225 |
Source: Ownwell