Neosho Rapids, Kansas Property Taxes
The median property tax rate in Neosho Rapids, KS is 1.44%, slightly higher than both the national median of 0.99% and the Kansas state median of 1.43%. With a median home value of $135,845 in Neosho Rapids, the typical annual property tax bill is $1,954, which is below the national median of $2,690. Property taxes in Neosho Rapids are calculated based on the assessed value, which is often lower than the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Neosho Rapids' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Neosho Rapids or another part of Coffey County, comprehending the local property tax framework will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Neosho Rapids, Kansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.44%
Estimate Property Tax Bill
$1,956
$1,815
Ownwell’s Neosho Rapids Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Neosho Rapids with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Neosho Rapids 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 Rapids, Kansas
Property taxes in Neosho Rapids, Kansas, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Neosho Rapids is 1.44%, significantly higher than both the Kansas state median and the U.S. national median of 0.99%. Local government entities within Neosho Rapids set these rates annually, and they can vary significantly across different neighborhoods. Each year, Neosho Rapids 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 Rapids' effective property tax rate to other counties in Kansas and the national median. For comparison, the zip code 66864 has the highest median property tax rate of 1.44%, while the same zip code also has the lowest median tax rate of 1.44%. Understanding how these cities compare with Neosho Rapids 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 Rapids Tax Rate
1.44%
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 Rapids, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 66864 | 1.17% | 1.25% | 1.44% | 1.84% | 2.22% |
Source: Ownwell
Property Tax Assessment Values Across Neosho Rapids, Kansas
In Neosho Rapids, 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 Coffey 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 Neosho Rapids, 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. The median home price in Neosho Rapids is $135,845, with tax bills ranging from $1,577 at the 25th percentile to $2,835 at the 90th percentile. The highest and lowest median tax bill in the area is $1,954, found in zip code 66864. 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 Rapids helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Neosho Rapids Assessed Value
$135,845
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 Rapids, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 66864 | $80,934 | $94,142 | $135,845 | $189,815 | $260,312 |
Source: Ownwell
Property Tax Bills Across Neosho Rapids, Kansas
In Neosho Rapids, Kansas, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. For instance, if a home has a market value of $135,845, the assessed value is determined using a specific assessment ratio set by local authorities. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. Several factors influence this tax bill, including the property's location, size, and market conditions. In Neosho Rapids, homeowners can expect property tax bills ranging from $1,577 at the 25th percentile to $2,590 at the 75th percentile, with the 90th percentile reaching up to $2,835. These figures are relatively moderate compared to the national median property tax rate of 0.99%. Understanding how these factors contribute to the overall tax bill can help homeowners anticipate their annual expenses and plan accordingly. High property taxes can impact affordability, making it crucial for homeowners to stay informed about local tax rates and assessments.
Average Neosho Rapids Tax Bill
$1,954
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 Rapids, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 66864 | $1,309 | $1,577 | $1,954 | $2,590 | $2,835 |
Source: Ownwell