Walton, Marion County, Kansas Property Taxes
The median property tax rate in Walton, KS is 1.66%, significantly higher than both the national median of 0.99% and the Kansas state median of 1.43%. With a median home value of $113,435 in Walton, the typical annual property tax bill is $1,826, which is lower than the national median of $2,690. Property taxes in Walton 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 Walton's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Walton or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Walton, Marion County, Kansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.66%
Estimate Property Tax Bill
$1,883
$1,747
Ownwell’s Walton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Walton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Walton 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 Walton, Marion County, Kansas
Property taxes in Walton, Kansas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Walton is 1.66%, significantly higher than both the Kansas state median and the U.S. national median of 0.99%. Local government entities within Walton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Walton 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 Walton's effective property tax rate to other counties in Kansas and the national median. For comparison, the zip code 67151 has the highest median property tax rate of 1.66%, while the same zip code also has the lowest median tax rate of 1.66%. Understanding how these cities compare with Walton 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 Walton Tax Rate
1.66%
Average Marion County Tax Rate
2.06%
Average Kansas Tax Rate
1.43%
Average United States Tax Rate
0.99%
Property Tax Rates Across Walton, Marion County, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 67151 | 1.02% | 1.58% | 1.66% | 1.91% | 2.20% |
Source: Ownwell
Property Tax Assessment Values Across Walton, Marion County, Kansas
In Walton, 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 Marion 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 Walton, 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 Walton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Walton is $1,826, found in zip code 67151, while the lowest median tax bill is also $1,826 in the same zip code.
Property Tax Assessment Values Across Walton, Marion County, Kansas
Source: Ownwell
$28,220
$94,958
$161,695
Average Walton Assessed Value
$113,435
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 Walton, Marion County, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 67151 | $36,285 | $77,358 | $113,435 | $172,850 | $225,935 |
Source: Ownwell
Property Tax Bills Across Walton, Marion County, Kansas
In Walton, Kansas, property tax bills are calculated based on the assessed value of a property, which is a percentage of its market value. The local tax rate is then applied to this assessed value to determine the final tax bill. Various factors, such as property size, location, and improvements, influence the assessed value. For instance, the median home price in Walton is $113,435, and with the national median property tax rate at 0.99%, local tax bills can vary significantly. Homeowners in Walton experience a range of property tax bills. For the 25th percentile, the tax bill is around $908, while those in the 75th percentile pay approximately $2,339. At the 90th percentile, the tax bill can reach up to $3,378. These variations reflect differences in property values and specific assessments. The highest and lowest median tax bills in Walton are both recorded at $1,826, indicating a relatively uniform tax rate across different properties. Understanding these factors helps homeowners anticipate their annual property tax obligations and plan their finances accordingly.
Average Walton Tax Bill
$1,826
Average Marion County Tax Bill
$1,500
Average Kansas Tax Bill
$2,595
Average United States Tax Bill
$2,690
Property Tax Bills Across Walton, Marion County, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 67151 | $597 | $908 | $1,826 | $2,339 | $3,378 |
Source: Ownwell