Walton, Kansas Property Taxes
The median property tax rate in Walton, KS is 1.84%, considerably higher than both the national median of 0.99% and the Kansas state median of 1.43%. With the median home value in Walton at $84,515, the typical annual property tax bill reaches $1,349, exceeding the national median of $2,690. Property taxes in Walton 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 Walton'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 Walton 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
Walton, Kansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.84%
Estimate Property Tax Bill
$1,555
$1,443
Ownwell’s Walton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Walton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Walton 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 Walton, Kansas
Property taxes in Walton, Kansas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Walton is 1.84%, significantly higher than the U.S. national median of 0.99%. Local government entities within Walton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Walton 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 Walton's effective property tax rate to other counties in Kansas and the national median. For comparison, the 67151 zip code has the highest median property tax rate of 1.84%, while the same zip code also has the lowest median tax rate of 1.84%. Understanding how these cities compare with Walton provides valuable insights into the varying tax landscape across Harvey County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Walton Tax Rate
1.84%
Average Harvey County Tax Rate
1.99%
Average Kansas Tax Rate
1.43%
Average United States Tax Rate
0.99%
Property Tax Rates Across Walton, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 67151 | 1.41% | 1.52% | 1.84% | 1.90% | 1.97% |
Source: Ownwell
Property Tax Assessment Values Across Walton, Kansas
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Walton, Kansas. 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 Harvey 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 Walton, 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. The median home price in Walton is $84,515. The 25th percentile tax bill is $680, while the 75th percentile tax bill is $2,485, and the 90th percentile tax bill is $3,608. The zip code with both the highest and lowest median tax bill is 67151, with a median tax bill of $1,349. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Walton Assessed Value
$84,515
Average Harvey County Assessed Value
$132,235
Average Kansas Assessed Value
$156,260
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Walton, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 67151 | $15,933 | $43,772 | $84,515 | $166,952 | $244,242 |
Source: Ownwell
Property Tax Bills Across Walton, Kansas
In Walton, Kansas, property tax bills are calculated based on the assessed value of the property, which is determined by the county assessor. The assessed value is a percentage of the property's market value, and this percentage can vary depending on local regulations. For homeowners in Walton, the median home price is $84,515. The property tax rate in Walton is influenced by local tax levies, which fund essential services such as schools, public safety, and infrastructure. Homeowners can expect tax bills that vary widely; for instance, the 25th percentile tax bill is around $680, while the 75th percentile tax bill rises to $2,485. At the higher end, the 90th percentile tax bill can reach up to $3,608. Compared to the national median property tax rate of 0.99%, Walton’s property tax rates can have significant impacts on homeowners, particularly those with higher-valued properties. This variability underscores the importance of understanding local property tax assessments and their implications for household budgets.
Average Walton Tax Bill
$1,349
Average Harvey County Tax Bill
$2,442
Average Kansas Tax Bill
$2,595
Average United States Tax Bill
$2,690
Property Tax Bills Across Walton, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 67151 | $263 | $680 | $1,349 | $2,485 | $3,608 |
Source: Ownwell