Home, Marshall County, Kansas Property Taxes
The median property tax rate in HOME, 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 $122,400 in HOME, the typical annual property tax bill amounts to $1,340, which is below the national median of $2,690. Property taxes in HOME 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 HOME'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 HOME 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
Home, Marshall County, Kansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.25%
Estimate Property Tax Bill
$1,530
$1,420
Ownwell’s HOME Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in HOME with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in HOME 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 Home, Marshall County, Kansas
Property taxes in HOME, Kansas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in HOME is 1.25%, higher than both the Kansas state median and the U.S. national median of 0.99%. Local government entities within HOME set these rates annually, and they can vary significantly across different neighborhoods. Each year, HOME 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 HOME's effective property tax rate to other counties in Kansas and the national median. For comparison, the 66438 zip code has both the highest and lowest median property tax rate of 1.25%. Understanding how these cities compare with HOME provides valuable insights into the varying tax landscape across Marshall County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Home Tax Rate
1.25%
Average Marshall County Tax Rate
1.65%
Average Kansas Tax Rate
1.43%
Average United States Tax Rate
0.99%
Property Tax Rates Across Home, Marshall County, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 66438 | 0.91% | 1.10% | 1.25% | 1.52% | 2.30% |
Source: Ownwell
Property Tax Assessment Values Across Home, Marshall County, Kansas
In HOME, 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 Marshall 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 HOME, 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 HOME helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $1,340, found in the 66438 zip code.
Property Tax Assessment Values Across Home, Marshall County, Kansas
Source: Ownwell
$47,745
$90,358
$132,970
Average Home Assessed Value
$122,400
Average Marshall County Assessed Value
$92,000
Average Kansas Assessed Value
$156,260
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Home, Marshall County, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 66438 | $26,669 | $53,598 | $122,400 | $195,005 | $263,938 |
Source: Ownwell
Property Tax Bills Across Home, Marshall County, Kansas
In HOME, located in Marshall County, KS, property tax bills are determined based on the assessed value of a home, which is a percentage of its market value. The median home price in this area is $122,400, and the property tax rate is applied to this assessed value to calculate the annual tax bill. Factors influencing the tax bill include the home's market value, local tax rates, and any applicable exemptions or deductions. For homeowners in HOME, the tax bill can vary significantly. The 25th percentile tax bill is $602, meaning that 25% of homeowners pay this amount or less. On the higher end, the 75th percentile tax bill is $2,960, and the 90th percentile reaches up to $4,432. This range indicates substantial variability in tax burdens, influenced by property values and individual circumstances. Comparatively, the national median property tax rate is 0.99%, and while specific rates for HOME aren't provided, understanding these figures helps homeowners anticipate potential costs and manage their budgets effectively.
Average Home Tax Bill
$1,340
Average Marshall County Tax Bill
$1,429
Average Kansas Tax Bill
$2,595
Average United States Tax Bill
$2,690
Property Tax Bills Across Home, Marshall County, Kansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 66438 | $248 | $602 | $1,340 | $2,960 | $4,432 |
Source: Ownwell