Neosho Falls, Kansas Property Taxes
The median property tax rate in Neosho Falls, KS is 1.12%, slightly higher than the national median of 0.99% but lower than the Kansas state median of 1.43%. With a median home value of $158,580 in Neosho Falls, the typical annual property tax bill is $2,166, which is below the national median of $2,690. Property taxes in Neosho Falls are calculated based on the tax assessed value, often less than the market value due to exemptions like the primary residence and agricultural exemptions. Grasping the intricacies of Neosho Falls' property tax system, leveraging available exemptions, and seeking opportunities for reductions can result in substantial annual savings. Whether residing in the core of Neosho Falls or other parts of the city, a thorough understanding of the local property tax system can greatly benefit homeowners and real estate investors alike.
Last Updated June 14, 2024
Neosho Falls, Kansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.12%
Estimate Property Tax Bill
$1,776
$1,648
Ownwell’s Neosho Falls Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Neosho Falls with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Neosho Falls 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 Neosho Falls, Kansas
Property taxes in Neosho Falls, Kansas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Neosho Falls is 1.12%, higher than both the Kansas state median and the U.S. national median of 0.99%. Local government entities within Neosho Falls set these rates annually, and they can vary significantly across different neighborhoods. Each year, Neosho Falls 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 Neosho Falls' effective property tax rate to other counties in Kansas and the national median. For comparison, the 66758 zip code has the highest median property tax rate of 1.12%, while the same 66758 zip code also has the lowest median tax rate of 1.12%. Understanding how these cities compare with Neosho Falls provides valuable insights into the varying tax landscape across Coffey County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Neosho Falls Tax Rate
1.12%
Average Coffey County Tax Rate
1.25%
Average Kansas Tax Rate
1.43%
Average United States Tax Rate
0.99%
Property Tax Rates Across Neosho Falls, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 66758 | 1.07% | 1.09% | 1.12% | 1.18% | 1.60% |
Source: Ownwell
Property Tax Assessment Values Across Neosho Falls, Kansas
In Neosho Falls, 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 local 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 Neosho Falls, 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 Neosho Falls helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill is 66758, with a tax bill of $2,166.
Average Neosho Falls Assessed Value
$158,580
Average Coffey County Assessed Value
$92,950
Average Kansas Assessed Value
$156,260
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Neosho Falls, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 66758 | $91,940 | $105,445 | $158,580 | $205,865 | $247,662 |
Source: Ownwell
Property Tax Bills Across Neosho Falls, Kansas
In Neosho Falls, KS, property tax bills are calculated based on the assessed value of the home, which is a percentage of its market value. The median home price in the area is $158,580. Property taxes in Coffey County are determined by multiplying the assessed value by the local tax rate, which can vary depending on the specific location within the county. Several factors influence the final tax bill, including property size, location, and any applicable exemptions. For example, the tax bill for the 25th percentile is $1,430, while the 75th percentile reaches $2,427, and the 90th percentile can be as high as $2,800. These variations indicate how different factors, such as property improvements or neighborhood developments, can impact the tax amount. Compared to the national median property tax rate of 0.99%, homeowners in Neosho Falls face a range of tax bills that reflect both the assessed value and local tax policies, potentially affecting their annual financial planning and overall cost of homeownership.
Average Neosho Falls Tax Bill
$2,166
Average Coffey County Tax Bill
$1,148
Average Kansas Tax Bill
$2,595
Average United States Tax Bill
$2,690
Property Tax Bills Across Neosho Falls, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 66758 | $1,092 | $1,430 | $2,166 | $2,427 | $2,800 |
Source: Ownwell