Park, Kansas Property Taxes
The median property tax rate in Park, KS is 1.51%, considerably higher than both the national median of 0.99% and the Kansas state median of 1.43%. With the median home value in Park at $45,655, the typical annual property tax bill reaches $722, exceeding the national median of $2,690. Property taxes in Park 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 Park'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 Park 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
Park, Kansas Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.43%
Estimate Property Tax Bill
$2,860
Ownwell’s PARK Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in PARK with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in PARK 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 Park, Kansas
Property taxes in Park, Kansas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Park is 1.51%, significantly higher than the Kansas state median and the U.S. national median of 0.99%. Local government entities within Park set these rates annually, and they can vary significantly across different neighborhoods. Each year, Park 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 Park's effective property tax rate to other counties in Kansas and the national median. For comparison, the zip code 67751 has the highest median property tax rate of 1.51%, while the same zip code also has the lowest median tax rate of 1.51%. Understanding how these areas compare with Park provides valuable insights into the varying tax landscape across Gove County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Park Tax Rate
1.51%
Average Gove County Tax Rate
1.81%
Average Kansas Tax Rate
1.43%
Average United States Tax Rate
0.99%
Property Tax Rates Across Park, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 67751 | 1.10% | 1.39% | 1.51% | 1.89% | 3.53% |
Source: Ownwell
Property Tax Assessment Values Across Park, Kansas
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Park, Kansas. The market value represents the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors such as location, property condition, and economic trends. This value is estimated by the Gove 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 Park, 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 Park helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 67751 at $722, which is also the lowest median tax bill in the area.
Average Park Assessed Value
$45,655
Average Gove County Assessed Value
$74,990
Average Kansas Assessed Value
$156,260
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Park, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 67751 | $5,533 | $19,955 | $45,655 | $82,835 | $121,753 |
Source: Ownwell
Property Tax Bills Across Park, Kansas
In the city of Park, located in Gove County, Kansas, property tax bills are calculated based on the assessed value of a home. The assessed value is typically a percentage of the market value, which is then subject to the local tax rate. For example, with a median home price of $45,655, the tax bill can vary significantly. Homeowners in the 25th percentile can expect to pay around $307, while those in the 75th percentile might see bills as high as $1,509. The 90th percentile tax bills can reach up to $2,688. Several factors influence the final tax bill, including property size, location, and any applicable exemptions. Compared to the national median property tax rate of 0.99%, the rates in Park can impact homeowners differently based on their property's assessed value. Understanding these factors can help homeowners anticipate their tax obligations and plan accordingly. This variability in tax bills emphasizes the importance of knowing how local assessments and rates apply to individual properties.
Average Park Tax Bill
$722
Average Gove County Tax Bill
$1,267
Average Kansas Tax Bill
$2,595
Average United States Tax Bill
$2,690
Property Tax Bills Across Park, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 67751 | $89 | $307 | $722 | $1,509 | $2,688 |
Source: Ownwell