Newton, Kansas Property Taxes
The median property tax rate in Newton, KS is 1.60%, considerably higher than both the national median of 0.99% and the Kansas state median of 1.43%. With the median home value in Newton at $153,620, the typical annual property tax bill reaches $2,500, slightly below the national median of $2,690. Property taxes in Newton 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 Newton'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 Newton 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
Newton, Kansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.6%
Estimate Property Tax Bill
$2,458
$2,281
Ownwell’s Newton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Newton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Newton 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 Newton, Kansas
Property taxes in Newton, Kansas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Newton is 1.60%, significantly higher than both the Kansas state median and the U.S. national median of 0.99%. Local government entities within Newton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Newton 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 Newton's effective property tax rate to other counties in Kansas and the national median. For comparison, the 67114 zip code has the highest median property tax rate of 1.60%, while the 67114 zip code also has the lowest median tax rate of 1.60%. Understanding how these cities compare with Newton provides valuable insights into the varying tax landscape across Marion County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Newton Tax Rate
1.60%
Average Marion County Tax Rate
2.06%
Average Kansas Tax Rate
1.43%
Average United States Tax Rate
0.99%
Property Tax Rates Across Newton, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 67114 | 1.41% | 1.54% | 1.60% | 1.74% | 1.99% |
Source: Ownwell
Property Tax Assessment Values Across Newton, Kansas
In Newton, 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 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 Newton, 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 Newton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Newton is $153,620, with tax bills ranging from $1,929 at the 25th percentile to $4,191 at the 90th percentile. The zip code 67114 shows the highest and lowest median tax bills, both at $2,500.
Average Newton Assessed Value
$153,620
Average Marion County Assessed Value
$76,800
Average Kansas Assessed Value
$156,260
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Newton, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 67114 | $89,778 | $123,448 | $153,620 | $195,605 | $249,972 |
Source: Ownwell
Property Tax Bills Across Newton, Kansas
In Newton, KS, property tax bills are calculated based on the assessed value of a property, which is determined by the county assessor. The assessed value is a percentage of the property's market value, reflecting its worth in the current real estate market. Homeowners in Newton can expect their tax bills to vary significantly, with the 25th percentile tax bill at $1,929 and the 75th percentile reaching $3,093. For those at the higher end, the 90th percentile tax bill can be as much as $4,191. Several factors influence the final tax bill, including the property's location, size, and any improvements made. The local tax rate, which funds essential services such as schools, public safety, and infrastructure, also plays a crucial role. Compared to the national median property tax rate of 0.99%, Newton’s rates may reflect the specific needs and budgetary requirements of the community. This variability in tax bills can significantly impact homeowners, affecting their annual expenses and long-term financial planning.
Average Newton Tax Bill
$2,500
Average Marion County Tax Bill
$1,500
Average Kansas Tax Bill
$2,595
Average United States Tax Bill
$2,690
Property Tax Bills Across Newton, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 67114 | $1,240 | $1,929 | $2,500 | $3,093 | $4,191 |
Source: Ownwell