Cambridge, Cowley County, Kansas Property Taxes
The median property tax rate in Cambridge, KS is 1.48%, considerably higher than both the national median of 0.99% and the Kansas state median of 1.43%. With the median home value in Cambridge, the typical annual property tax bill reaches $903, which is significantly lower than the national median of $2,690. Property taxes in Cambridge 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 Cambridge'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 Cambridge 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
Cambridge, Cowley County, Kansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.48%
Estimate Property Tax Bill
$814
$755
Ownwell’s Cambridge Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Cambridge with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Cambridge 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 Cambridge, Cowley County, Kansas
Property taxes in Cambridge, Kansas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Cambridge is 1.48%, significantly higher than the U.S. national median of 0.99%. Local government entities within Cambridge set these rates annually, and they can vary across different neighborhoods. Each year, Cambridge 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 Cambridge's effective property tax rate to other areas in Kansas and the national median. For comparison, the zip code 67023 has the highest median property tax rate of 1.48%, while also having the lowest median tax rate of 1.48%. Understanding how these areas compare with Cambridge provides valuable insights into the varying tax landscape across Cowley County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Cambridge Tax Rate
1.48%
Average Cowley County Tax Rate
1.69%
Average Kansas Tax Rate
1.43%
Average United States Tax Rate
0.99%
Property Tax Rates Across Cambridge, Cowley County, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 67023 | 1.29% | 1.29% | 1.48% | 1.94% | 2.81% |
Source: Ownwell
Property Tax Assessment Values Across Cambridge, Cowley County, Kansas
In Cambridge, 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 Cowley 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 Cambridge, 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 25th percentile tax bill is $328, while the 75th percentile tax bill is $2,272. The highest median tax bill in the area is $903, located in the 67023 zip code. 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 Cambridge helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Cambridge, Cowley County, Kansas
Source: Ownwell
$45,210
$123,095
$200,980
Average Cambridge Assessed Value
$54,995
Average Cowley County Assessed Value
$83,900
Average Kansas Assessed Value
$156,260
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Cambridge, Cowley County, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 67023 | $8,235 | $21,362 | $54,995 | $104,668 | $198,692 |
Source: Ownwell
Property Tax Bills Across Cambridge, Cowley County, Kansas
In Cambridge, Cowley County, KS, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The tax rate, also known as the mill levy, is applied to this assessed value to determine the annual property tax bill. Factors such as the property's location, size, and usage can influence the assessed value. Homeowners in Cambridge experience a range of tax bills, with the 25th percentile paying around $328, while those in the 75th percentile face bills up to $2,272. The highest tax bills can reach as much as $4,191 for the 90th percentile. Compared to the national median property tax rate of 0.99%, Cambridge's rates can vary significantly, reflecting the specific valuations and needs of the local community. These property taxes fund essential public services, such as schools, infrastructure, and emergency services, directly impacting the quality of life for residents. Understanding these factors can help homeowners better anticipate their annual property tax obligations.
Average Cambridge Tax Bill
$903
Average Cowley County Tax Bill
$1,388
Average Kansas Tax Bill
$2,595
Average United States Tax Bill
$2,690
Property Tax Bills Across Cambridge, Cowley County, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 67023 | $128 | $328 | $903 | $2,272 | $4,191 |
Source: Ownwell