Lamont, Kansas Property Taxes
The median property tax rate in Lamont, Kansas is 1.67%, considerably higher than both the national median of 0.99% and the Kansas state median of 1.43%. With the median home value in Lamont, the typical annual property tax bill reaches $564, which is below the national median of $2,690. Property taxes in Lamont are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Lamont'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 Lamont or another part of Greenwood County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Lamont, Kansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.67%
Estimate Property Tax Bill
$802
Ownwell’s Lamont Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lamont with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lamont 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 Lamont, Kansas
Property taxes in Lamont, Kansas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lamont is 1.67%, significantly higher than both the Kansas state median and the U.S. national median of 0.99%. Local government entities within Lamont set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lamont 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 Lamont's effective property tax rate to other areas in Kansas and the national median. For comparison, the zip code 66855 has both the highest and lowest median property tax rate of 1.67%, indicating a uniform rate across this area. Understanding how these cities compare with Lamont 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 Lamont Tax Rate
1.67%
Average Greenwood County Tax Rate
2.02%
Average Kansas Tax Rate
1.43%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lamont, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 66855 | 1.51% | 1.57% | 1.67% | 1.79% | 2.06% |
Source: Ownwell
Property Tax Assessment Values Across Lamont, Kansas
In Lamont, 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. In Lamont, 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. The median home price in Lamont is $48,045, and property tax bills can vary widely. For instance, the 25th percentile tax bill is $255, while the 75th percentile tax bill reaches $1,520. 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 Lamont helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Lamont Assessed Value
$48,045
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 Lamont, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 66855 | $1,214 | $23,248 | $48,045 | $102,488 | $133,719 |
Source: Ownwell
Property Tax Bills Across Lamont, Kansas
In Lamont, Kansas, 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 Lamont is $48,045. Property taxes are then determined by applying the local tax rate to this assessed value. For instance, if the local tax rate aligns with the national median of 0.99%, homeowners can expect their tax bills to reflect this rate. Several factors influence the final tax bill, including the home's assessed value, local tax rates, and any applicable exemptions or deductions. For homeowners in Lamont, tax bills can vary significantly. At the 25th percentile, the tax bill is around $255, while at the 75th percentile, it reaches $1,520. The 90th percentile sees tax bills as high as $2,119. These property taxes play a crucial role in funding local services such as schools, infrastructure, and public safety. Consequently, understanding how these taxes are calculated and what factors influence them can help homeowners better manage their financial planning.
Average Lamont Tax Bill
$564
Average Greenwood County Tax Bill
$769
Average Kansas Tax Bill
$2,595
Average United States Tax Bill
$2,690
Property Tax Bills Across Lamont, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 66855 | $19 | $255 | $564 | $1,520 | $2,119 |
Source: Ownwell