Olpe, Kansas Property Taxes
The median property tax rate in Olpe, KS is 1.49%, which is significantly higher than both the national median of 0.99% and the Kansas state median of 1.43%. With a median home value of $183,595 in Olpe, the typical annual property tax bill reaches $2,683, closely aligning with the national median of $2,690. Property taxes in Olpe are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Olpe'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 Olpe or another part of Lyon County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Olpe, Kansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.49%
Estimate Property Tax Bill
$2,736
$2,539
Ownwell’s Olpe Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Olpe with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Olpe 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 Olpe, Kansas
Property taxes in Olpe, Kansas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Olpe is 1.49%, significantly higher than the U.S. national median of 0.99%. Local government entities within Olpe set these rates annually, and they can vary significantly across different neighborhoods. Each year, Olpe 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 Olpe's effective property tax rate to other counties in Kansas and the national median. For comparison, the 66865 zip code has the highest median property tax rate of 1.49%, while the same zip code also has the lowest median tax rate of 1.49%. Understanding how these cities compare with Olpe provides valuable insights into the varying tax landscape across Lyon County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Olpe Tax Rate
1.49%
Average Lyon County Tax Rate
1.51%
Average Kansas Tax Rate
1.43%
Average United States Tax Rate
0.99%
Property Tax Rates Across Olpe, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 66865 | 1.23% | 1.33% | 1.49% | 1.66% | 1.85% |
Source: Ownwell
Property Tax Assessment Values Across Olpe, Kansas
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Olpe, 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 Lyon 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 Olpe, 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 Olpe helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Olpe are both $2,683, found in the 66865 zip code.
Average Olpe Assessed Value
$183,595
Average Lyon County Assessed Value
$135,800
Average Kansas Assessed Value
$156,260
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Olpe, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 66865 | $53,995 | $103,410 | $183,595 | $268,140 | $332,855 |
Source: Ownwell
Property Tax Bills Across Olpe, Kansas
In Olpe, located in Lyon County, KS, property tax bills are determined by assessing the market value of a home and applying the local tax rate. The median home price in Olpe is $183,595. Homeowners can expect property tax bills to vary significantly based on the assessed value of their property and the specific tax rates applied by local authorities. For instance, tax bills in the 25th percentile are around $1,581, while those in the 75th percentile can reach up to $3,908. At the 90th percentile, they can go as high as $4,972. The process involves multiplying the assessed value of the property by the local tax rate, which is influenced by various factors such as local government budgets, school district funding, and public services. This system ensures that property taxes are proportionate to the value of the property, impacting homeowners by requiring higher payments for higher-valued homes. The highest median tax bill in the region is $2,683, reflecting the variability in tax burdens across different properties in Olpe.
Average Olpe Tax Bill
$2,683
Average Lyon County Tax Bill
$2,056
Average Kansas Tax Bill
$2,595
Average United States Tax Bill
$2,690
Property Tax Bills Across Olpe, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 66865 | $830 | $1,581 | $2,683 | $3,908 | $4,972 |
Source: Ownwell