Minneola, Kansas Property Taxes
The median property tax rate in Minneola, Kansas is 2.42%, considerably higher than both the national median of 0.99% and the Kansas state median of 1.43%. With the median home value in Minneola at $142,715, the typical annual property tax bill reaches $3,907, exceeding the national median of $2,690. Property taxes in Minneola 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 Minneola'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 Minneola 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
Minneola, Kansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.42%
Estimate Property Tax Bill
$3,454
$3,205
Ownwell’s MINNEOLA Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in MINNEOLA with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in MINNEOLA 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 Minneola, Kansas
Property taxes in Minneola, Kansas, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Minneola is 1.32%, which is higher than both the Kansas state median of 1.28% and the U.S. national median of 0.99%. Local government entities within Minneola set these rates annually, and they can vary significantly across different neighborhoods. Each year, Minneola 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 Minneola's effective property tax rate to other counties in Kansas and the national median. For comparison, the zip code 67865 has the highest median property tax rate of 1.32%, while the same zip code 67865 has the lowest median tax rate of 1.32%. Understanding how these cities compare with Minneola provides valuable insights into the varying tax landscape across Clark County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Minneola Tax Rate
2.42%
Average Ford County Tax Rate
1.91%
Average Kansas Tax Rate
1.43%
Average United States Tax Rate
0.99%
Property Tax Rates Across Minneola, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 67865 | 2.09% | 2.16% | 2.42% | 3.44% | 3.97% |
Source: Ownwell
Property Tax Assessment Values Across Minneola, Kansas
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Minneola, Kansas. 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 Ford 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 Minneola, 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. In Minneola, the median home price stands at $142,715. The tax bill at the 25th percentile is $1,539, while at the 75th percentile, it reaches $6,445. 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 Minneola helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Minneola Assessed Value
$142,715
Average Ford County Assessed Value
$108,530
Average Kansas Assessed Value
$156,260
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Minneola, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 67865 | $1,793 | $69,962 | $142,715 | $197,935 | $284,974 |
Source: Ownwell
Property Tax Bills Across Minneola, Kansas
In Minneola, Kansas, 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 Minneola is $142,715. Property taxes are determined by multiplying the assessed value by the local tax rate. For instance, the tax bill in the 25th percentile is $1,539, while in the 75th percentile, it reaches $6,445, and the 90th percentile sees it rise to $9,590. These variations illustrate the impact of differing property values and tax rates within the area. Factors influencing property tax bills include the home's assessed value and local tax rates, which can vary significantly. The highest and lowest median tax bills in Minneola both stand at $3,907, highlighting some consistency within specific zip codes. Compared to the national median property tax rate of 0.99%, homeowners in Minneola may experience differing financial implications based on their property's assessed value and the local tax rate. Understanding these factors helps homeowners anticipate their annual tax obligations more accurately.
Average Minneola Tax Bill
$3,907
Average Ford County Tax Bill
$2,081
Average Kansas Tax Bill
$2,595
Average United States Tax Bill
$2,690
Property Tax Bills Across Minneola, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 67865 | $37 | $1,539 | $3,907 | $6,445 | $9,590 |
Source: Ownwell