Wright, Kansas Property Taxes
The median property tax rate in Wright, KS is 1.68%, considerably higher than both the national median of 0.99% and the Kansas state median of 1.43%. With the median home value in Wright, the typical annual property tax bill reaches $2,342, which is below the national median of $2,690. Property taxes in Wright 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 Wright'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 Wright 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
Wright, Kansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.68%
Estimate Property Tax Bill
$2,205
$2,046
Ownwell’s Wright Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Wright with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Wright 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 Wright, Kansas
Property taxes in Wright, Kansas, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Wright is 1.68%, significantly higher than the U.S. national median of 0.99%. Local government entities within Wright set these rates annually, and they can vary significantly across different neighborhoods. Each year, Wright 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. For comparison, the zip code 67882 in Ford County has the highest median property tax rate of 1.68%, while the same zip code also has the lowest median tax rate of 1.68%. Understanding how these cities compare with Wright provides valuable insights into the varying tax landscape across Ford County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Wright Tax Rate
1.68%
Average Ford County Tax Rate
1.91%
Average Kansas Tax Rate
1.43%
Average United States Tax Rate
0.99%
Property Tax Rates Across Wright, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 67882 | 1.58% | 1.65% | 1.68% | 1.84% | 2.48% |
Source: Ownwell
Property Tax Assessment Values Across Wright, Kansas
In Wright, Kansas, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value represents 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. Assessment notices in Wright 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. Wright's property owners should be aware that the highest median tax bill is $2,342 in zip code 67882. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Wright Assessed Value
$131,265
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 Wright, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 67882 | $54,438 | $93,410 | $131,265 | $173,910 | $275,914 |
Source: Ownwell
Property Tax Bills Across Wright, Kansas
In Wright, KS, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The assessed value is a percentage of the property's market value. For example, if the median home price in Wright is $131,265, the assessed value would be a fraction of this amount. The local property tax rate is then applied to this assessed value to determine the tax bill. Several factors influence this calculation, including the market value of similar homes in the area and any applicable exemptions. For homeowners, this means that their annual property tax bill can vary significantly depending on these factors. In Wright, the tax bill at the 25th percentile is $1,598, while the 75th percentile sees bills around $3,231. At the 90th percentile, homeowners could pay as much as $5,427. These variations highlight the importance of understanding how property taxes are assessed and the potential financial impact on homeowners in Wright.
Average Wright Tax Bill
$2,342
Average Ford County Tax Bill
$2,081
Average Kansas Tax Bill
$2,595
Average United States Tax Bill
$2,690
Property Tax Bills Across Wright, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 67882 | $986 | $1,598 | $2,342 | $3,231 | $5,427 |
Source: Ownwell