Norwich, Kansas Property Taxes
The median property tax rate in Norwich, KS is 2.33%, considerably higher than both the national median of 0.99% and the Kansas state median of 1.43%. With the median home value in Norwich, the typical annual property tax bill reaches $2,124, exceeding the national median of $2,690. Property taxes in Norwich 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 Norwich'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 Norwich 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
Norwich, Kansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.33%
Estimate Property Tax Bill
$2,164
$2,008
Ownwell’s Norwich Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Norwich with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Norwich 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 Norwich, Kansas
Property taxes in Norwich, Kansas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Norwich is 2.33%, significantly higher than both the Kansas state median and the U.S. national median of 0.99%. Local government entities within Norwich set these rates annually, and they can vary significantly across different neighborhoods. Each year, Norwich 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 Norwich's effective property tax rate to other counties in Kansas and the national median. For comparison, the zip code 67118 has the highest median property tax rate of 2.33%, while the same zip code also has the lowest median tax rate of 2.33%. Understanding how these cities compare with Norwich provides valuable insights into the varying tax landscape across Kingman County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Norwich Tax Rate
2.33%
Average Kingman County Tax Rate
1.98%
Average Kansas Tax Rate
1.43%
Average United States Tax Rate
0.99%
Property Tax Rates Across Norwich, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 67118 | 1.74% | 2.05% | 2.33% | 2.42% | 2.50% |
Source: Ownwell
Property Tax Assessment Values Across Norwich, Kansas
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Norwich, 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 Kingman 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 Norwich, 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 Norwich helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill is in zip code 67118 at $2,124, while the lowest median tax bill is also in zip code 67118 at $2,124.
Average Norwich Assessed Value
$92,885
Average Kingman County Assessed Value
$84,385
Average Kansas Assessed Value
$156,260
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Norwich, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 67118 | $30,977 | $53,138 | $92,885 | $156,562 | $275,402 |
Source: Ownwell
Property Tax Bills Across Norwich, Kansas
In Norwich, Kingman County, KS, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The county assessor determines the market value, and the assessed value is typically a fraction of this amount. Various factors influence the assessed value, including property size, location, and condition. Homeowners in Norwich face a median property tax rate of 0.99%, aligning with the national median. This rate is applied to the assessed value to determine the annual tax bill. For instance, with a median home price of $92,885, homeowners might expect a tax bill around $1,181 at the 25th percentile or up to $5,658 at the 90th percentile, reflecting the variability in property values and tax liabilities. The tax burden can significantly impact homeowners, influencing decisions on property investments and financial planning. Understanding these factors is crucial for managing property-related expenses effectively.
Average Norwich Tax Bill
$2,124
Average Kingman County Tax Bill
$1,733
Average Kansas Tax Bill
$2,595
Average United States Tax Bill
$2,690
Property Tax Bills Across Norwich, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 67118 | $694 | $1,181 | $2,124 | $3,306 | $5,658 |
Source: Ownwell