Reading, Kansas Property Taxes
The median property tax rate in Reading, KS is 1.25%, which is higher than the national median of 0.99% but lower than the Kansas state median of 1.43%. With a median home value of $116,650 in Reading, the typical annual property tax bill amounts to $1,444, surpassing the national median of $2,690. Property taxes in Reading are based on the tax assessed value, which is often lower than the market value due to exemptions such as primary residence and agricultural exemptions. By understanding Reading's property tax system, exploring available exemptions, and identifying opportunities for reductions, homeowners and real estate investors can achieve significant annual savings. Whether you're situated in the heart of Reading or another part of the city, gaining insights into the local property tax system is crucial for financial planning and investment strategies.
Last Updated June 14, 2024
Reading, Kansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.25%
Estimate Property Tax Bill
$1,458
$1,353
Ownwell’s Reading Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Reading with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Reading 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 Reading, Kansas
Property taxes in Reading, Kansas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Reading is 1.25%, higher than both the Kansas state median and the U.S. national median of 0.99%. Local government entities within Reading set these rates annually, and they can vary significantly across different neighborhoods. Each year, Reading 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 Reading's effective property tax rate to other counties in Kansas and the national median. For comparison, the 66868 zip code has the highest median property tax rate of 1.25%, while the 66868 zip code also has the lowest median tax rate of 1.25%. Understanding how these cities compare with Reading 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 Reading Tax Rate
1.25%
Average Lyon County Tax Rate
1.51%
Average Kansas Tax Rate
1.43%
Average United States Tax Rate
0.99%
Property Tax Rates Across Reading, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 66868 | 0.93% | 1.03% | 1.25% | 1.44% | 1.71% |
Source: Ownwell
Property Tax Assessment Values Across Reading, Kansas
In Reading, 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 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 Reading, 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 Reading helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Reading, the highest and lowest median tax bills are both $1444.00 in zip code 66868.
Average Reading Assessed Value
$116,650
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 Reading, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 66868 | $12,806 | $43,762 | $116,650 | $207,410 | $317,537 |
Source: Ownwell
Property Tax Bills Across Reading, Kansas
In Reading, KS, property tax bills are determined by multiplying the assessed value of a home by the local tax rate. The assessed value is a percentage of the home's market value, which in Reading is influenced by factors such as location, property size, and market conditions. Homeowners in Reading experience a range of tax bills, with the 25th percentile paying around $550 and the 75th percentile paying up to $2,549. The highest tax bills, reaching the 90th percentile, can be as high as $4,056. The median home price in Reading is $116,650, which serves as a baseline for understanding these tax values. Compared to the national median property tax rate of 0.99%, Reading's rates can vary significantly. Homeowners should be aware that these taxes fund essential local services such as schools, infrastructure, and emergency services, directly impacting the community's quality of life. Understanding how these factors interplay helps homeowners anticipate their financial responsibilities and plan accordingly.
Average Reading Tax Bill
$1,444
Average Lyon County Tax Bill
$2,056
Average Kansas Tax Bill
$2,595
Average United States Tax Bill
$2,690
Property Tax Bills Across Reading, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 66868 | $187 | $550 | $1,444 | $2,549 | $4,056 |
Source: Ownwell