Wetmore, Kansas Property Taxes
The median property tax rate in Wetmore, KS is 1.53%, significantly higher than both the national median of 0.99% and the Kansas state median of 1.43%. With the median home value in Wetmore at $169,010, the typical annual property tax bill reaches $2,588, which is slightly below the national median of $2,690. Property taxes in Wetmore are calculated based on the tax assessed value, often lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Wetmore'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 Wetmore or another part of Jackson County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Wetmore, Kansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.53%
Estimate Property Tax Bill
$2,586
Ownwell’s Wetmore Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Wetmore with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Wetmore 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 Wetmore, Kansas
Property taxes in Wetmore, Kansas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Wetmore is 1.53%, significantly higher than both the Kansas state median and the U.S. national median of 0.99%. Local government entities within Wetmore set these rates annually, and they can vary significantly across different neighborhoods. Each year, Wetmore 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 Wetmore's effective property tax rate to other counties in Kansas and the national median. For comparison, the 66550 zip code has the highest median property tax rate of 1.53%, while the same zip code also has the lowest median tax rate of 1.53%. Understanding how these cities compare with Wetmore provides valuable insights into the varying tax landscape across Jackson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Wetmore Tax Rate
1.53%
Average Jackson County Tax Rate
1.48%
Average Kansas Tax Rate
1.43%
Average United States Tax Rate
0.99%
Property Tax Rates Across Wetmore, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 66550 | 1.21% | 1.27% | 1.53% | 2.31% | 3.14% |
Source: Ownwell
Property Tax Assessment Values Across Wetmore, Kansas
In Wetmore, 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 Jackson 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 in Wetmore 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 Wetmore 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 66550, with a median tax bill of $2,588.
Average Wetmore Assessed Value
$169,010
Average Jackson County Assessed Value
$133,885
Average Kansas Assessed Value
$156,260
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Wetmore, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 66550 | $79,582 | $107,935 | $169,010 | $197,878 | $330,399 |
Source: Ownwell
Property Tax Bills Across Wetmore, Kansas
In Wetmore, Kansas, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The assessed value is typically a percentage of the market value of the property. For instance, Jackson County uses an assessment rate to determine this value. Once the assessed value is established, the local tax rate, or mill levy, is applied to calculate the tax bill. Factors influencing property tax bills include the home's market value, local tax rates, and any applicable exemptions. Homeowners in Wetmore see a range of tax bills depending on their property's value. For example, the 25th percentile tax bill is around $1,441, while the 75th percentile tax bill reaches approximately $4,133. At the higher end, the 90th percentile tax bill is about $4,617. These taxes fund essential local services such as schools, infrastructure, and emergency services. Understanding how these elements combine helps homeowners anticipate their annual property tax obligations and budget accordingly.
Average Wetmore Tax Bill
$2,588
Average Jackson County Tax Bill
$1,989
Average Kansas Tax Bill
$2,595
Average United States Tax Bill
$2,690
Property Tax Bills Across Wetmore, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 66550 | $1,160 | $1,441 | $2,588 | $4,133 | $4,617 |
Source: Ownwell