Fall River, Kansas Property Taxes
The median property tax rate in Fall River, KS is 1.52%, considerably higher than both the national median of 0.99% and the Kansas state median of 1.43%. With the median home value in Fall River at $39,700, the typical annual property tax bill reaches $604, which is significantly lower than the national median of $2,690. Property taxes in Fall River 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 Fall River’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 Fall River 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
Fall River, Kansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.52%
Estimate Property Tax Bill
$603
Ownwell’s Fall River Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Fall River with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Fall River 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 Fall River, Kansas
Property taxes in Fall River, Kansas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Fall River is 1.52%, significantly higher than both the Kansas state median and the U.S. national median of 0.99%. Local government entities within Fall River set these rates annually, and they can vary significantly across different neighborhoods. Each year, Fall River 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 Fall River's effective property tax rate to other counties in Kansas and the national median. For comparison, the 67047 zip code has the highest median property tax rate of 1.52%, while the same zip code also has the lowest median tax rate of 1.52%. Understanding how these cities compare with Fall River provides valuable insights into the varying tax landscape across Greenwood County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Fall River Tax Rate
1.52%
Average Greenwood County Tax Rate
2.02%
Average Kansas Tax Rate
1.43%
Average United States Tax Rate
0.99%
Property Tax Rates Across Fall River, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 67047 | 1.27% | 1.37% | 1.52% | 2.05% | 2.36% |
Source: Ownwell
Property Tax Assessment Values Across Fall River, Kansas
In Fall River, 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 Greenwood 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 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 Fall River helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $604.00 in zip code 67047, while the lowest is also $604.00 in the same zip code.
Average Fall River Assessed Value
$39,700
Average Greenwood County Assessed Value
$39,700
Average Kansas Assessed Value
$156,260
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Fall River, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 67047 | $5,714 | $15,995 | $39,700 | $75,085 | $114,244 |
Source: Ownwell
Property Tax Bills Across Fall River, Kansas
In Fall River, Greenwood County, KS, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The median home price in Fall River is $39,700. To determine the tax bill, the assessed value is multiplied by the local tax rate. Factors like property size, location, and improvements can influence the assessed value. Homeowners in Fall River experience a range of tax bills. The 25th percentile tax bill is around $286, while the 75th percentile reaches $1,149, and the 90th percentile can be as high as $1,945. The median tax bill in the highest and lowest zip codes is $604, reflecting the consistency within the area. Compared to the national median property tax rate of 0.99%, Fall River's rates can significantly impact homeowners, especially those in higher tax brackets. Understanding these factors helps homeowners better anticipate their annual expenses and plan their finances accordingly.
Average Fall River Tax Bill
$604
Average Greenwood County Tax Bill
$769
Average Kansas Tax Bill
$2,595
Average United States Tax Bill
$2,690
Property Tax Bills Across Fall River, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 67047 | $106 | $286 | $604 | $1,149 | $1,945 |
Source: Ownwell