Merriam, Kansas Property Taxes
The median property tax rate in Merriam, KS is 1.26%, which is higher than both the national median of 0.99% and the Kansas state median of 1.43%. With the median home value in Merriam at $247,950, the typical annual property tax bill reaches $3,140, surpassing the national median of $2,690. Property taxes in Merriam 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 Merriam'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 Merriam 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
Merriam, Kansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.26%
Estimate Property Tax Bill
$3,124
$2,899
Ownwell’s Merriam Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Merriam with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Merriam 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 Merriam, Kansas
Property taxes in Merriam, Kansas, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Merriam is 1.26%, higher than both the Kansas state median and the U.S. national median of 0.99%. Local government entities within Merriam set these rates annually, and they can vary significantly across different neighborhoods. Each year, Merriam 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 Merriam's effective property tax rate to other areas in Kansas and the national median. For comparison, the 66203 ZIP code has the highest median property tax rate of 1.27%, while the 66204 ZIP code has the lowest median tax rate of 1.25%. Understanding how these areas compare with Merriam provides valuable insights into the varying tax landscape across Johnson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Merriam Tax Rate
1.26%
Average Johnson County Tax Rate
1.32%
Average Kansas Tax Rate
1.43%
Average United States Tax Rate
0.99%
Property Tax Rates Across Merriam, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 66202 | 1.26% | 1.26% | 1.26% | 1.26% | 1.27% |
| 66203 | 1.27% | 1.27% | 1.27% | 1.28% | 1.28% |
| 66204 | 1.24% | 1.24% | 1.25% | 1.25% | 1.25% |
Source: Ownwell
Property Tax Assessment Values Across Merriam, Kansas
In Merriam, 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 Johnson 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 Merriam, 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. For instance, homeowners in the 66203 zip code face the highest median tax bill at $3,537, while those in the 66202 zip code experience the lowest median tax bill at $2,737. 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 Merriam helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Merriam Assessed Value
$247,950
Average Johnson County Assessed Value
$319,800
Average Kansas Assessed Value
$156,260
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Merriam, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 66202 | $193,120 | $206,550 | $217,000 | $237,350 | $302,180 |
| 66203 | $62,082 | $245,100 | $271,400 | $320,225 | $336,860 |
| 66204 | $208,600 | $227,100 | $248,000 | $276,300 | $296,900 |
Source: Ownwell
Property Tax Bills Across Merriam, Kansas
In Merriam, located in Johnson County, KS, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The assessed value is a percentage of the property's market value. Homeowners in Merriam typically see property tax bills that vary significantly, with the 25th percentile at $2,737 and the 75th percentile reaching $3,724. The highest median tax bill in the area is $3,537, found in the 66203 zip code, while the lowest median tax bill is $2,737 in the 66202 zip code. Factors influencing the tax bill include the market value of the property, local tax rates, and any applicable exemptions. For homeowners, these property taxes fund essential public services such as schools, roads, and emergency services. Compared to the national median property tax rate of 0.99%, Merriam's property taxes can be seen as moderately high, impacting the overall cost of homeownership in the area.
Average Merriam Tax Bill
$3,140
Average Johnson County Tax Bill
$4,179
Average Kansas Tax Bill
$2,595
Average United States Tax Bill
$2,690
Property Tax Bills Across Merriam, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 66202 | $2,426 | $2,601 | $2,737 | $3,002 | $3,847 |
| 66203 | $2,994 | $3,178 | $3,537 | $4,118 | $4,280 |
| 66204 | $2,589 | $2,827 | $3,096 | $3,460 | $3,724 |
Source: Ownwell