Wellsville, Kansas Property Taxes
The median property tax rate in Wellsville, KS is 1.86%, considerably higher than both the national median of 0.99% and the Kansas state median of 1.43%. With the median home value in Wellsville, the typical annual property tax bill reaches $3,538, exceeding the national median of $2,690. Property taxes in Wellsville 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 Wellsville'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 Wellsville 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
Wellsville, Kansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.86%
Estimate Property Tax Bill
$3,850
$3,572
Ownwell’s Wellsville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Wellsville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Wellsville 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 Wellsville, Kansas
Property taxes in Wellsville, Kansas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Wellsville is 1.86%, significantly higher than both the Kansas state median and the U.S. national median of 0.99%. Local government entities within Wellsville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Wellsville 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 Wellsville's effective property tax rate to other counties in Kansas and the national median. For comparison, the 66092 zip code has the highest median property tax rate of 1.86%, while the 66092 zip code also has the lowest median tax rate of 1.86%. Understanding how these cities compare with Wellsville provides valuable insights into the varying tax landscape across Franklin County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Wellsville Tax Rate
1.86%
Average Franklin County Tax Rate
1.76%
Average Kansas Tax Rate
1.43%
Average United States Tax Rate
0.99%
Property Tax Rates Across Wellsville, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 66092 | 1.32% | 1.35% | 1.86% | 1.89% | 1.90% |
Source: Ownwell
Property Tax Assessment Values Across Wellsville, Kansas
In Wellsville, 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 Franklin 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 Wellsville, 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 Wellsville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Wellsville are both recorded at $3,538 in the zip code 66092.
Average Wellsville Assessed Value
$206,970
Average Franklin County Assessed Value
$165,700
Average Kansas Assessed Value
$156,260
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Wellsville, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 66092 | $91,712 | $148,125 | $206,970 | $276,720 | $386,606 |
Source: Ownwell
Property Tax Bills Across Wellsville, Kansas
In Wellsville, located in Franklin County, KS, property tax bills are calculated based on the assessed value of homes. The assessed value is determined by the county assessor and is a percentage of the property's market value. Homeowners in Wellsville can expect their tax bills to be influenced by several factors, including the local tax rate and the assessed value of their property. The median home price in Wellsville is $206,970, with property tax bills ranging significantly. At the 25th percentile, homeowners pay around $2,719, while those at the 75th percentile see bills closer to $4,580. For those in the 90th percentile, tax bills can reach up to $5,547. These figures reflect how varying home values and local tax rates impact the overall tax burden. Comparatively, Wellsville's property tax rates can be higher than the national median property tax rate of 0.99%, affecting homeowners' annual financial planning and potentially influencing decisions on property investments in the area.
Average Wellsville Tax Bill
$3,538
Average Franklin County Tax Bill
$2,728
Average Kansas Tax Bill
$2,595
Average United States Tax Bill
$2,690
Property Tax Bills Across Wellsville, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 66092 | $1,847 | $2,719 | $3,538 | $4,580 | $5,547 |
Source: Ownwell