Olathe, Kansas Property Taxes
The median property tax rate in Olathe, KS is 1.35%, notably higher than the national median of 0.99% but slightly lower than the Kansas state median of 1.43%. With a median home value of $291,700 in Olathe, the typical annual property tax bill reaches $3,940, surpassing the national median of $2,690. Property taxes in Olathe are calculated based on the tax assessed value, which often falls below market value due to various exemptions, including primary residence and agricultural exemptions. Understanding Olathe'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 Olathe 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
Olathe, Kansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.35%
Estimate Property Tax Bill
$3,938
$3,654
Ownwell’s Olathe Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Olathe with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Olathe 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 Olathe, Kansas
Property taxes in Olathe, Kansas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Olathe is 1.35%, higher than both the Kansas state median and the U.S. national median of 0.99%. Local government entities within Olathe set these rates annually, and they can vary significantly across different neighborhoods. Each year, Olathe 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 Olathe's effective property tax rate to other counties in Kansas and the national median. For comparison, the 66215 zip code has the highest median property tax rate of 1.35%, while the 66061 zip code has the lowest median tax rate of 1.35%. Understanding how these cities compare with Olathe 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 Olathe Tax Rate
1.35%
Average Johnson County Tax Rate
1.32%
Average Kansas Tax Rate
1.43%
Average United States Tax Rate
0.99%
Property Tax Rates Across Olathe, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 66061 | 1.32% | 1.34% | 1.35% | 1.36% | 1.37% |
| 66062 | 1.32% | 1.35% | 1.35% | 1.36% | 1.42% |
| 66215 | 1.35% | 1.35% | 1.35% | 1.36% | 1.36% |
Source: Ownwell
Property Tax Assessment Values Across Olathe, Kansas
In Olathe, 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 Olathe, 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 Olathe helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Olathe, the zip code with the highest median tax bill is 66215 at $4,175, while the lowest is 66061 at $3,745.
Average Olathe Assessed Value
$291,700
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 Olathe, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 66061 | $137,500 | $193,500 | $276,900 | $400,000 | $516,800 |
| 66062 | $227,100 | $256,900 | $297,700 | $359,700 | $448,000 |
| 66215 | $255,650 | $276,800 | $308,350 | $338,600 | $355,100 |
Source: Ownwell
Property Tax Bills Across Olathe, Kansas
In Olathe, property tax bills are calculated based on the assessed value of a home, which is determined by the Johnson County appraiser's office. The assessed value is a percentage of the market value of the property. For instance, if the median home price in Olathe is $291,700, the assessed value will be a fraction of this amount. Property tax rates are then applied to the assessed value to determine the tax bill. Several factors influence the final tax bill, including the specific tax rate set by local taxing authorities and any applicable exemptions or deductions. Homeowners in Olathe experience varying tax bills, with the 25th percentile paying around $3,193 and the 75th percentile paying approximately $5,055. At the higher end, the 90th percentile sees tax bills reaching up to $6,637. These variations can significantly impact homeowners, affecting their annual financial planning and overall cost of homeownership. Comparing these figures to the national median property tax rate of 0.99%, Olathe's property taxes reflect the local economic conditions and public service funding needs.
Average Olathe Tax Bill
$3,940
Average Johnson County Tax Bill
$4,179
Average Kansas Tax Bill
$2,595
Average United States Tax Bill
$2,690
Property Tax Bills Across Olathe, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 66061 | $1,834 | $2,598 | $3,745 | $5,444 | $7,071 |
| 66062 | $3,061 | $3,467 | $4,018 | $4,859 | $6,203 |
| 66215 | $3,445 | $3,738 | $4,175 | $4,596 | $4,826 |
Source: Ownwell