Osage City, Kansas Property Taxes
The median property tax rate in Osage City, KS is 1.34%, which is 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 $166,950, the typical annual property tax bill in Osage City is $1,878, which is below the national median of $2,690. Property taxes here are calculated based on the tax assessed value, typically lower than the market value due to exemptions such as primary residence and agricultural exemptions. Understanding Osage City'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 Osage City 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
Osage City, Kansas Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.43%
Estimate Property Tax Bill
$2,860
Ownwell’s Osage City Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Osage City with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Osage City 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 Osage City, Kansas
Property taxes in Osage City, Kansas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Osage City is 1.34%, higher than both the Kansas state median and the U.S. national median of 0.99%. Local government entities within Osage City set these rates annually, and they can vary significantly across different neighborhoods. Each year, Osage City 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 Osage City's effective property tax rate to other counties in Kansas and the national median. For comparison, the 66523 zip code has the highest median property tax rate of 1.34%, while the 66523 zip code also has the lowest median tax rate of 1.34%. Understanding how these cities compare with Osage City 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 Osage City Tax Rate
1.34%
Average Lyon County Tax Rate
1.51%
Average Kansas Tax Rate
1.43%
Average United States Tax Rate
0.99%
Property Tax Rates Across Osage City, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 66523 | 1.06% | 1.09% | 1.34% | 1.51% | 1.69% |
Source: Ownwell
Property Tax Assessment Values Across Osage City, Kansas
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Osage City, 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 Osage City, 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. For example, the highest median tax bill in Osage City is $1,878 in the 66523 zip code, which is also the lowest median tax bill. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Osage City Assessed Value
$166,950
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 Osage City, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 66523 | $46,706 | $115,170 | $166,950 | $267,260 | $286,686 |
Source: Ownwell
Property Tax Bills Across Osage City, Kansas
In Osage City, property tax bills are calculated based on the assessed value of a property, which is a percentage of its market value. Homeowners in Osage City, located in Lyon County, KS, see their property tax bills influenced by several factors, including the local tax rate and the assessed value of their property. The median home price in the area is $166,950, and the property tax rate is applied to this assessed value to determine the tax bill. For instance, the tax bill at the 25th percentile is approximately $1,309, while at the 75th percentile, it reaches around $3,660. The 90th percentile tax bill is about $3,775. These figures indicate that property taxes can significantly impact homeowners' finances, with higher-valued properties incurring higher tax bills. Compared to the national median property tax rate of 0.99%, homeowners in Osage City experience varying tax obligations based on their property's assessed value and the local tax rate, emphasizing the importance of understanding local property tax calculations.
Average Osage City Tax Bill
$1,878
Average Lyon County Tax Bill
$2,056
Average Kansas Tax Bill
$2,595
Average United States Tax Bill
$2,690
Property Tax Bills Across Osage City, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 66523 | $791 | $1,309 | $1,878 | $3,660 | $3,775 |
Source: Ownwell